Konfir, a B2B SaaS platform that provides instant employment and income verifications has launched as the first business of its kind in Europe. The platform will aggregate multiple consent driven payroll, HR and banking data sources, offering an efficient solution to the current administrative headache of running pre-employment verification and getting the necessary checks employees need. Whilst the product is currently focused on pre-employment verification, the technology has a broader addressable market, including tenant vetting, mortgages and loan applications.
Employment verifications are required in various consumer life events such as moving jobs or homes. Companies and individuals face a barrier, having to prove on average either 3 or 5 years of work history. This sensitive employment data is currently shared in an unsecure way via email, PDF or on phone calls. Konfir simplifies and secures the process; starting with employee permission and then moving through a streamlined workflow which companies can integrate with directly.
For launch, Konfir has partnered with leading Background Checking providers, one of which is Reed Screening, which commented on the challenges, saying: “We’re at the height of the great resignation, and what employers need in order to continue to work efficiently is direct access to data that exists in other systems, rather than dealing with previous employers. As it stands, only 61 per cent of employment references are ever returned and over 60 per cent of employers believe that referencing will be the single slowest part of the hiring process as the verification process becomes digitised. So far, we’ve seen an 89 per cent reduction in the time taken to complete a verification by using Konfir. This allows us to deploy assets elsewhere in our business. We’re delighted to be partnering with Konfir as we continue to roll this technology out to market leaders across the UK.”
Products like Konfir are being introduced at an exciting time as the UK Government enables Digital ID checks to now be used for Right to Work and Right to Rent checks, further digitising the process of key consumer life events.
Chris Milligan, CEO, Konfir, said: “At Konfir, we want to help people to progress in life. We’re starting with one of the most broken experiences, the pre-employment verification. We’ve seen the benefit of open data with some of our early clients and are excited to bring the instant verification platform to market.”