There are alternatives to high 3rd party employment verification fees. Alliance Risk Group has solutions you may want to consider.
If your company’s background investigation includes employment verifications, (and they should), or you are a financial institution needing an income verification, you probably have been faced with rising 3rd Party Verification fees from one or two vendors with a monopoly on this service.
This situation creates a challenge.
- Do you proceed as normal and pay the increasing fees?
- Should you skip the employment or income verification completely and hope for the best? (This option is not recommended.)
- Or is there another option?
For employers, skipping an employment verification is not a prudent option if you want to avoid a costly hiring mistake. It’s mind boggling the lengths some fraudsters will go put themselves in a trusted position, only to abscond with the company’s money or trade secrets. The last thing you want to do is hire someone who could have a dangerous criminal record.
New Companies Provide Alternatives to 3rd Party Vendors who are Gouging Clients with Employment and Income Verification Fees
One such company provides “consumer-permissioned instant verification infrastructure connecting financial institutions to 120M+ US employees – matching the coverage and conversion rates of more established providers.” In addition, they plan to “partner with instant databases and call centers to provide income and employment verification for 90+% of the US workforce.”
These new services boast more accurate and cost-effective results and tout themselves as a one–stop solution for all income and employment verifications.
If you are interested in learning more, email sales@allianceriskgroup.com