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RapidVerify vs. Equifax
Which Delivers Faster, More Reliable Income Verifications?
See how direct bank and payroll connections make RapidVerify's income verifications lightning fast, transparent, and fraud-resistant.
RapidVerify uses a direct connection to over 12,000 financial institutions and payroll providers to instantly verify an applicant's income.
Equifax Workforce Solutions offers an income verification service where the applicant's employer submits pay data to Equifax upon request.
Get Setup in Minutes, Not Days
RapidVerify $19 per report | Equifax $60 per report | |
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| Employer Income | ||
| Non-Employer Income | ||
| Seamless Onboarding | ||
| CRM Integrations | ||
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Equifax Verification Explained
Equifax verifies income by having employers submit documentation like pay stubs and salary confirmation directly to Equifax upon request.
Equifax's verification method relies on employers submitting income and employment data for their employees. This traditional approach can lead to a lag time between when income is earned and when it's reported to Equifax. As a result, the verification process might present outdated or inaccurate information depending on the frequency and accuracy of employer submissions.
With applicant authorization, RapidVerify can access up-to-date income information from sources like bank statements, payroll systems, and investment accounts. This provides real-time verification of both traditional employment income as well as non-traditional sources like investments, benefits, and gig work. Direct data connections avoid reliance on collecting and submitting documentation, allowing RapidVerify to deliver fast, frictionless income verification.
The RapidVerify Advantage
RapidVerify instantly verifies income by connecting directly to banks, payroll providers to obtain applicant data.
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