SOLUTIONS FOR EMPLOYERS
VALUE FOR YOU
Verification Exchange™, a service of Canada Workforce Solutions, streamlines your employment and income verification process with automated, uniform and secured information release between employers (data contributors) and verifiers (lenders, government agencies, background screeners, etc.) benefiting the employee-consumer by accelerating the decision process while adding security to the transaction and mitigating risk with real data, direct from the data contributor. Your employees receive the benefit and service at no cost to them.
Verification Exchange is fully compliant with the Personal Information Protection and Electronic Documents Act (PIPEDA), and as such requires that:
- All verifier clients are credentialled
- An identifying or permissible purpose and consumer consent be provided for every verification request
- The employee-consumer has the ability to view their own individual data file and dispute any inaccuracies
Organizations from small not-for-profit agencies to the largest of corporations choose Equifax to handle the verifications for their employee population. Not only does the service help relieve administrative burdens and costs, it keeps employees’ information secure and helps to mitigate exposure to unauthorized access. Unless otherwise requested by the employee, Equifax allows only contracted and credentialled verifiers access to the information.
Leadership in security is fundamental to our basic purpose – empowering businesses and consumers with information they can trust. Canada Workforce Solutions sets the highest security bar possible. This allows us to thoughtfully and effectively manage the evolving threat landscape and dynamic compliance requirements.
The Equifax Global Security mission statement expresses the totality of this commitment: to provide global assessment, design, development, delivery and monitoring of the security of the assets of Equifax. It is important to make sure that any partner you consider that will handle your employees' personal information has top-notch security. Below is a short list of some of these steps we take to keep our clients' data secure.
Canada Workforce Solutions Data Security Practices:
- Risk-Based Authentication
- Data encrypted in transit and at rest
- Custom authentication settings to match client security standards
- Database housed in an isolated network with no direct internet accessibility
- Data Loss Prevention solution, including: Endpoint (desktop / laptop) and Network-based (email / web)
- Extensive background investigations for all employees
- Advanced malware detection capabilities to include malware analysis and reverse engineering
- 24/7 in-house monitoring of physical and logical security controls
Verification Exchange Compliance Attributes:
- Credential all verifiers
- Require legitimate identifying purpose for each verification requested
- Consent required for all income and employment verifications
As regulation in the Canadian mortgage industry has changed, we’ve introduced Verification Exchange from Equifax to help improve overall quality and efficiency. The impressive turnaround times and user-friendly processes have allowed our operations to handle increased volumes, while strengthening loan quality.
The Equifax team was very proactive and innovative in defining a solution for our manual VOE needs. They took the time to understand our needs and then they launched a well-designed and executed plan with no surprises. The Equifax team did exactly what they said they would, delivering a quality and cost-effective solution.
- Ops Director
Top 5 Mortgage Lender
The reason we stay with—and love working with—Equifax is not just the product, but the personal touch we get from our account rep. Her immediate, thoughtful and knowledgeable approach keeps us up and running and creates a great relationship.