Jacksonville, Fla. – Auto lenders need the ability to automatically verify employment information on potential borrowers for a faster, frictionless borrower experience. Today, LAUNCHER.SOLUTIONS (“Launcher”), a technology provider specializing in sub-prime automotive loan originations, and Equifax Inc., a global information solutions company, announced an integration of Launcher’s appTRAKER Loan Origination System with The Work Number® database, provided by Equifax Workforce Solutions, a business unit of Equifax Inc. The Work Number® database is the nation’s largest centralized repository of payroll data.
appTRAKER Loan Origination System (“LOS”) was designed specifically for sub/near-prime automotive lenders. Integrating The Work Number® with appTRAKER LOS allows lenders utilizing appTRAKER LOS to automatically access employment and income information, helping to reduce time and errors that can occur in a manual process.
More than 10,000 employers nationwide are included in The Work Number® database of income and employment records, including the majority of federal government civilian employers and 82 percent of the Fortune 500. Data on The Work Number® database updates every payroll cycle.
“Our integration with The Work Number adds value to appTRAKER LOS for our lenders,” said Nikh Nath, President of LAUNCHER.SOLUTIONS. “The verifications provided by The Work Number can be run automatically or manually, during the underwriting phase or the verification phase. The integration allows the quality and flexibility needed to book loans quickly and efficiently.”
“Equifax grew The Work Number database substantially in 2017,” said Lou Loquasto, Vice President, Dealer and Auto Finance Leader for Equifax. “Auto lender confidence in the availability of The Work Number data could reduce consumer requirements to provide income and employment documentation and soon become a table stake for the industry.”
About LAUNCHER.SOLUTIONS: LAUNCHER.SOLUTIONS is a technology products and services company built on the foundation of care, understanding. innovation, and speed. It specializes in the subprime/nearprime automotive lending industry. Its innovative products include appTRAKER LOS, myDEALER.CARE dealer relationship management system, and myACCOUNT.CARE customer self-service and communication solution. LAUNCHER.SOLUTIONS has service offerings aimed at helping its clients with projects related to data analytics, data integration, telephony and custom web development. Learn more about LAUNCHER.SOLUTIONS at www.launcher.solutions or call at 877.5LNCHER. Follow us on LinkedIn at https://www.linkedin.com/company/launcher.solutions.
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