Consumer lending companies get a better picture of their clients taxes

Successfully verify consumer employer and identity via the tax database
Confidently optimize with a lower probability of error or risk
during verification process
Accelerate internal processes to process a higher volume of
consumer verifications per year
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Problem

96% of employers conduct at least one method of background verification when hiring a new employee. These frequently involve calling and emailing previous employers to verify employment, federal and state background checks, fingerprinting, or drug testing. This complex, multi-stage process is slow and cumbersome for just a single employee.

Objectives

Reduce error

With accurate and verified employment history and identity verification, employers are confident about their new employees.

Accelerate
verification timelines

Faster approval timelines means happier employers and happier employees.

Increase efficiency

Cut down on time spent waiting on documents, phone calls, and emails by directly tapping into your client’s verified IRS data.

A modern API solution that centralizes the most accurate employment history and identity verification for same-day employment approval and only requires efforts by the prospective employee.

Results

One Day

Wait time reduced

Reduced the two-week average wait time for employment history and identity verification to just one day.

10%

Reduced the probability of an approval

Lowered the probability of an employment approval with information errors by 10%.

50%

Reduction in hiring related 3rd party

50% reduction in the number
of hiring related 3rd party vendors.

What employees are saying about the ModernTax app

Get an anonymized employee chat room where employees and get insights on how ModernTax helps decrease financial stress at major taxable events within employee’s tenure & let certified tax experts answer questions