Income Verification Frameworks

Tungsten offers solution frameworks that help automating income verification activities. The Payslip Solution Framework and the Bank Statement Solution Framework process payslips and bank statements. The Advanced Rules Management Framework is then leveraged to run pre-defined income verification rules across these payslips and bank statements processed. Utilizing these frameworks as accelerators help expedite implementation and allow for a quick go-live.

• Turn bank statements and payslips into electronic content
• Data validations provide more accurate, high-quality data
• Pre-built classification techniques
• Intelligently capture data using pre-defined procedures for header and transaction data
• Pre-trained payslips and bank statements further expedite automation in classification and extraction routines.
• Pre-built and configurable income verification rules
• Efficient and intuitive user interfaces
• Automated cross-document validation rules
• Review failed rules with content (documents and data points highlighted) in context of the executed rules
• Validated data and rule results available in JSON format and can be leveraged by other systems and/or solutions as needed.
• Flexible integration into existing or new TotalAgility systems / solutions and 3rd party systems
• Customized look & feel with configurable design elements.

 

 

• Reduce or eliminate manual data entry tasks allowing employees to focus on higher value-add activities
• Improve processing time by automating tedious and error-prone tasks
• Intuitive, easy to use, out of the box User interfaces for administrative and exception handling activities
• Configurable (no coding) validation rules drive business ownership and reduces dependency on IT
• Built on established best practices from years of experience with Tungsten Software and its implementation
• Increase operational efficiency and overall processing capacity
• Flexible integration into TotalAgility systems
• Accelerated implementation expedites the path to production to drive faster ROI

 

 

Income verification or the proof of earnings is used for a number of reasons. All of which come down to determining whether someone is eligible for a service, a loan, a rental etc. For instance, financial institutions use income verification to ensure that an applicant can afford to pay back a loan, landlords or rental companies use it to see whether an applicant can afford to pay the rent for a location, government agencies use this process to verify if applicants qualify for government aid or other services and if they do up to which level that is.

What´s required? Typically payslips and / or bank statements are requested with certain rules and requirements to be checked against and across these documents.

 

All frameworks can be seamlessly incorporated into existing or new Total Agility systems and allows integration with customer’s backend systems and business processes.