Equifax has finalized its acquisition of Vault Verify, a move that strengthens its employment and income verification services by adding new data sources and technologies to its existing ecosystem. The deal deepens The Work Number’s capabilities, a core Equifax offering used by employers, financial institutions, and government agencies to help consumers secure jobs, mortgages, benefits, and other key financial services.
The company stated that integrating Vault Verify’s technology into the Equifax Cloud architecture will enable faster, more efficient access to verification data for employers and verifiers. The acquisition also expands data submission options for employers by providing an additional outsourced mechanism via Vault Verify’s API-driven platform.
Vault Verify, founded in 2012, offers real-time, transactional verification services powered by proprietary technology and serves employers of all sizes across the United States, with a strong presence in the healthcare sector. With the acquisition closing, Vault Verify becomes part of the Equifax Workforce Solutions business unit, and its team members have transitioned into new roles within Workforce Solutions.
Equifax noted that the combined capabilities of both organizations will help streamline verification processes that directly impact consumer decisions tied to employment, credit, housing, and social service access.
KEY QUOTES
“Our Purpose is to help people live their financial best. The acquisition of Vault Verify complements The Work Number and Equifax verification capabilities with additional information that can help streamline important financial moments for consumers.”
“Leveraging the power of our Equifax Cloud transformation, we are able to rapidly integrate Vault Verify into ongoing Equifax operations and deliver verifiers the information they need quickly and efficiently.”
Mark Begor, Chief Executive Officer, Equifax
“We are excited about the enhanced set of knowledge and capabilities that our combined Vault Verify and Equifax teams will be able to offer as we seek to help streamline life’s important moments through secure, efficient verifications.”
“The addition of Vault Verify will help consumers get decisions more quickly when they’re applying for jobs, mortgages, social service benefits, and other financial services.”
Joe Muchnick, Chief Operating Officer, Equifax Workforce Solutions
