Argyle Launches First Self-serve Tool for Consumers to Generate Income and Employment Verification Reports for Free
Argyle Verify Extends Company’s Mission to Improve Financial Health of 1099 and W-2 Workers by Giving Them Control Over Their Employment Data
NEW YORK–(BUSINESS WIRE)–#VOIE—Argyle, the leading employment data platform that provides companies access to user-permissioned employment records in real time, announced today it is streamlining the income and employment verification process for U.S. consumers with its new offering, Argyle Verify. Providing a much-needed alternative to outdated and time-intensive verification processes, Argyle’s consent-driven service enables 75 percent of the U.S. workforces to easily access, verify, and share their income and employment information with lenders, landlords, and employers of their choice, at no charge.
Occupations and the ways in which individuals earn money are evolving and multiplying, making it harder for businesses and institutions to formally verify streams of income required for banking, lending, insurance, and housing decisions. This creates often dire real-life consequences for people in need of these kinds of fundamental services. According to a recent survey of more than 1,200 gig, freelance, and 1099 workers, 49 percent of respondents indicated being denied financial services they feel they can afford; 81 percent reported needing to verify employment income to secure financial resources, with more than a third (36 percent) reporting difficulties with the verification process; and 70 percent of gig workers said they believe their employment records provide a more accurate representation of their ability to pay compared to other data, such as payment history or credit scores. Respondents also expressed feeling depressed and lacking motivation as a result of inequitable access to financial services.
Argyle CEO Shumilk Fishman explained, “Workers have long been overlooked by financial institutions and lenders solely on the fact that their form of employment and income channels aren’t nicely packaged in the way society has conformed around.” Fishman believes user-permissioned employment data—and providing consumers with easy access to this data—levels the playing field. “Our mission is to provide equal financial access to everyone. This is why we are offering Argyle Verify to consumers free of charge.”
Any Worker Can Share Verified Income and Employment in Three Easy Steps
Unlike legacy employment verification services, Argyle’s approach is radically different: it is free, it is consent-driven, and it is easy, condensing time frames from days to seconds. Consumers can generate financial reports following these steps:
- Go to Argyle.verify.com.
- Search for employer, payroll provider, or gig platform, and connect your account.
- Generate report and send it directly to the chosen party.
Rather than buying and selling personal data as a broker between employers and verifiers, Argyle acts as the ‘rails’ over which individual users, fully in control, can choose to share their data securely. Users are able to package their data themselves and decide with whom to share it, with Argyle acting only as the data transfer agent. “We’re putting verified employment data into the hands of the employees who generated it,” noted Fishman. By building and maintaining the rails over which data can be securely and instantly transferred, Argyle makes it possible for individuals to control and share their own verified data at no cost to themselves.
How Employers Benefit from Argyle Verify
The income and employment industry has long been dominated by the purchase and sale of individual employee records without their knowledge or consent. Argyle is leading the movement toward user-directed data sharing, with the explicit acknowledgement that users should be able to access and share their own data at no cost.
With Argyle Verify, employers and HR departments can automate and outsource inbound employment verifications. Companies that give their workers access to Argyle’s free verification services are relieved of the burden to act as a middleman between employees and lenders. This also benefits gig or freelance workers who may not have a direct channel to communicate with their employer or do not have access to an HR contact or department.
Fishman added, “Argyle is leading the charge to build, nurture, and maintain a true network of employment data that can be transacted at a high volume and high frequency to the advantage of both employers and employees. By reducing the burden of completing required verifications, Argyle provides a valuable free service to consumers and employers that will reinforce the value of our employment data network to verifiers like lenders, landlords, and other service providers.”
To learn more about Argyle’s solutions and explore the benefits of Argyle Verify, visit www.argyle.com/verify.
Additional Resources
- Argyle Verify, Self-serve Tool for Generating Income and Employment Verification
- Report: Trends in Financial Access Survey Findings
- Blog: Argyle Lands $55 Million in Series B Funding
About Argyle
Argyle is building the leading user-consent-based platform for employment data, helping people avoid situations where their personal information is sold or used without their consent or knowledge. With Argyle, any business can process income and work verifications, gain real-time transparency into earnings, as well as view and update worker profile details. By removing the barriers between a worker, the companies they make money from, and the business they buy services and products from, Argyle has reimagined how employment data can be leveraged to benefit both institutions and individuals.
Contacts
Media Contact
Amber Winans
Bhava Communications for Argyle
[email protected]
510-575-0492
