Simplify Verification and Speed Up Approvals with Employment & Income Integration
Questions answered:
Enable instant, secure, and compliant income and employment verification directly from your Loan Origination System (LOS). Covaleyo’s Prolender platform integrates seamlessly with Equifax to automate the verification process, reducing manual steps and accelerating loan decisions for Canadian credit unions and financial institutions.
Covaleyo Prolender integrates with Equifax to provide real-time income and employment verification within the LOS interface:
This seamless workflow eliminates delays, reduces human error, and ensures compliance with credit adjudication standards.
By embedding verification directly into the LOS, Covaleyo provides tangible operational and risk-management advantages:
Covaleyo’s employment and income verification integration can be activated in as little as one business day, ensuring minimal disruption to your operations.
Contact Covaleyo to activate your integration and streamline lending decisions.
A Loan Origination System (LOS) needs to enable Credit Unions to streamline their lending processes as well as ensure they can add additional functionality without a significant impact to operations. An integrated LOS has numerous benefits including reduced errors, efficiency gains, and additional channel options.
It is a process used to confirm an applicant’s job status and income details during loan origination. This ensures the borrower has the financial capacity to repay the loan.
It streamlines the verification process by automating data pulls from trusted sources like Equifax, reducing delays and manual errors.
While not always mandatory, it is commonly used in mortgages, personal loans, and auto loans to assess repayment risk.
All data is pulled using secure, credential-based access through encrypted APIs within the ProLender platform.
Integration is typically completed in one business day with configuration through ProLender Admin.
Lenders receive end-to-end training, a dedicated account manager, and access to technical support and training resources in the LMS.
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