Introducing Work Report™ with Moorepay
Introducing Work Report™ with Moorepay
In answer to employee demands we’re excited to launch our latest service, Work Report™.
Reduce the burden placed on HR.
Improve the employee experience.
What is Work Report™?
Work Report™ is a new employment and income verification service supplied by Experian, the world’s leading information services provider, built to save time and hassle for HR teams.
It’s a quick and secure way for employees to instantly verify the employment and payroll information required when applying for products such as mortgages, loans, and tenancies.
At the relevant stage of an application, and with the employee’s consent, the service automatically sources the minimum required information from employer payroll systems and shares it instantaneously and securely with a service provider.
Work Report™ eliminates the time and effort your HR teams currently spend sourcing, printing, and verifying documents requested by your employees. Employees get the option to ‘self-serve’, choosing to share information directly with an organisation of their choice.
Why use Work Report™?
Every time one of your employees is asked for employment and income verification, your HR team is required to source that information. This is time that could be better spent on business-critical activities.
The current verification process is outdated, slow, lacks automation and increases the risk of data loss. Providing printed or pdf documentation by email or post is not secure.
You can support your employees’ financial and mental wellbeing by removing friction from the application process, giving them better access to important services such as mortgages and loans and access to better tailored products & services.
The benefits of Work Report™
We’ve partnered with Experian to make Work Report™ available free of charge to our customers. We’re aiming to switch this functionality for May 2022.
Please let us know before 18 April 2022. Don’t worry, you’ll have the option to switch this feature off in the software, at any time.
By not opting out you give us consent to respond to verification requests, sending requested data to Experian without having to notify you any further. All of which is of course given with employee consent.
If you have any questions about the Work Report™ service, please contact your Account Manager.
We answer the most frequently asked questions about Work Report.
Who delivers the service?
Moorepay has partnered with Experian, the world’s leading provider of information services, to promote and distribute Work Report™ for our customers.
What information does Work Report™ collect?
The information varies by use case, and is only provided with the consent of employees, but examples include:
– Verified employer name
– Employment start-date/tenure
– Gross annual salary
– Pay frequency
– Pay date
– 3 months of payslip data
– 12 month rolling gross/ Net Income
– Monthly fixed/ variable income summaries
– Monthly deductions summaries
– In each instance, only the minimum required information is pulled from your payroll system to fulfil the required employment or income verification request.
What do I need to do?
Unless you choose to opt out, you don’t have to do anything.
In applications where the service is available, your employees will always have the choice of using Work Report™ or to source their payroll documents using conventional methods, such as pdfs or printed copies of their payslip if they prefer.
Moorepay remains your point of contact and contract. Experian delivers Work Report™, and is extending it to its network of UK clients including banks, building societies, ‘fintech’ businesses, utilities and telecoms providers.
Is Work Report™ GDPR compliant?
Work Report™ is fully compliant with the General Data Protection Regulation (GDPR) and applicable data protection laws. In particular, the information is used solely to fulfil the employee’s request and is subject to robust security measures. Experian Ltd is also authorised and regulated by the Financial Conduct Authority (FCA).
Which suppliers are utilising Work Report™ technology?
Experian work with Koodoo, a fintech that partners with leading lenders and aggregators to connect borrowers to their next mortgage. Oakbrook is a customer lending specialist that also work with Work Report™. Experian are in conversations with many other suppliers, across a multitude of industries to extend this service.
How much does it cost?
The service is free of charge for both Moorepay customers and their employees.
When will it be available?
We are currently in final steps to roll out the service for all our customers and it will be available for our customer for May 2022. We will notify you when Work Report™ is live and accessible for you and your employees.
Can I opt-out of the Work Report™ service?
The deadline for opting out of the Work Report™ service has now passed.
If you have any questions about how Work Report™ works, please email your Account Manager who will be happy to help you.
Otherwise, you give us your instruction to respond to verification requests by sending the requested data to Experian without notifying you further.
Who are Experian?
Experian is the world’s leading global information services company. During life’s big moments — from buying a home or a car to sending a child to college to growing a business by connecting with new customers — Experian empower consumers and our clients to manage their data with confidence. They help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.