For the second time in September, Launcher enhanced its technology geared to streamline originations via collaboration with an industry partner.
After earlier boosting integrated access to CARFAX Vehicle History Reports, this week the company announced an expanded integration of Launcher’s appTRAKER Loan Origination System (LOS) with The Work Number from Equifax, the credit bureau’s centralized commercial repository of income and employment information in the U.S.
Launcher reiterated in a news release that appTRAKER LOS was designed for finance companies looking for a more efficient way to consume data to originate contracts and build a stronger portfolio.
This expansion between appTRAKER LOS and The Work Number offers additional products for finance companies, including:
—The Work Number Select – Gold: Provides all employment and income information such as employer name, employment status, rate of pay and more.
—Employment Indicator: Provides the status of an employment record on The Work Number database.
—Employment & Income Verifications: Instant access to data direct from employers and payroll providers.
Launcher noted that finance companies utilizing appTRAKER LOS are able to automatically access employment and income information, helping to reduce time and errors that can occur in a manual process.
Launcher also pointed out that finance companies need the ability to automatically verify employment information on potential borrowers for a faster, lower friction customer experience.
With more than 573 million income and employment records from 2.5 million employers across a variety of industries, The Work Number can allow finance companies utilizing the appTRAKER Loan Origination System to have the information that they need at their fingertips to make smarter, faster credit decisions.
“We are proud to deepen our relationship with Equifax by offering additional products from The Work Number,” said Nikh Nath, president of LAUNCHER.SOLUTIONS. “Our integrations with third party data providers are invaluable to our lenders.
“The verifications provided by The Work Number can be run automatically or manually during the underwriting phase or the verification phase. The integration allows the quality and flexibility needed to book loans quickly and efficiently,” Nath went on to say.