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Streamlining old processes and making user journeys in the financial services space has never been more relevant than today. Recognizing this demand, Teal has forged an innovative partnership with Newpayroll, a fully digital payroll software solution. This collaboration marks a significant stride towards simplifying income verifications for employees, empowering them with the convenience of one-click verifications when applying for loans.
By integrating Teal's secure API connection, Newpayroll enables employees whose payroll is processed through its system to effortlessly provide proof of their income, salary, and employment status with just one click. This seamless process not only saves time but also enhances the overall user experience for employees and employers alike.
What sets this partnership apart is its commitment to data privacy and user autonomy. New Payroll ensures that employees retain full control over their data, with nothing shared without their explicit consent and knowledge. The end user benefits, as lenders will now be able to verify their income instantly and be able to provide much quicker lending decisions.
While instant Income Verifications will be available at select lenders at the beginning, Teal plans to roll out API-driven income verifications to more customers in the coming year. This partnership opens doors to greater accessibility and efficiency in financial processes for employees of forward thinking companies.
Charles Cammiade, Founder of Newpayroll, stresses the significance of this collaboration, stating,
"Our mission has always been to leverage technology to help employees by improving a key component of their financial lives - payroll. Newpayroll strives to be the most forward thinking payroll solution for the UK market and partnering with Teal aligns perfectly with this vision. Besides offering a flexible payroll engine that makes the monthly payroll run as simple as possible, our clients can now enable thousands of employees on our platform to seamlessly verify their income with the click of a button."
André Saavedra Pinto, Co-Founder and CPO of Teal comments:
"At Teal, we are committed to simplify the way income verifications are conducted, turning a lengthy process with lots of chasing documents into a clean, one click experience for consumers.
Our collaboration with Newpayroll represents a significant step in that direction to enable API driven Income Verifications. Together, we aim to set new standards of efficiency and security within financial services."
This partnership between Newpayroll and Teal is the first step towards a new era of convenience and reliability in income verifications. By leveraging innovative technology and a shared commitment to empowering the employees with control over their own data, this collaboration promises to redefine industry standards and enhance the financial well-being of individuals and businesses alike.
