Equifax Helps Expand Financial Access for Consumers with The Work Number®
THE WORK NUMBER® FROM EQUIFAX CONTINUES TO HELP TRANSFORM VERIFICATION OF INCOME AND EMPLOYMENT to better support essential life events. Anyone who has ever started a new job, leased a car, applied for a mortgage, or sought government benefits, has probably benefited from The Work Number. The service helps streamline the verification process using data sourced directly from employers, helping to ensure greater accuracy and efficiency.
“As we have grown The Work Number, we have been able to help even more people," said Adrien Borger, Product Leader for The Work Number with Equifax. “More often than not, it’s the consumer’s job to track down and submit pay stubs, W-2s, or tax returns when they’re seeking a financial decision. The Work Number helps reduce or remove this burden, offering consumers a more streamlined access to crucial financial and social services.
Equifax has the trust of more than 4.6 million employers nationwide who contribute to The Work Number database, reducing obstacles for consumers when applying for credit, jobs or social services. The value to each consumer is made possible through their employers. In fact, the more employers that use The Work Number, the more people Equifax can help to live their financial best.
The Work Number also helps potential lenders to verify whether individuals are employed and how much is in their paycheck. With that information in hand, lenders may be more likely to offer loans, even if an applicant has less-than-perfect credit. Specifically, auto loan originations increased by 35.5% on average, with a much greater increase for consumers in the subprime (44% increase) and deep subprime (146% increase) categories. And, interest rates on these loans were only 2-4% higher.
In 2024, The Work Number processed 149 million verifications, nearly 400,000 requests on any given day, supporting 6.4 million auto loan applicants, 4.5 million job candidates, and 25.5 million people seeking government benefits, reinforcing its role in expanding financial access and efficiency. Importantly, The Work Number benefited 52 million people last year with automated income and employment verifications outside of regular business hours, helping to keep important life events moving forward - even on evenings and weekends.
Equifax continues to enhance the consumer experience for The Work Number, providing people with easier access to and more control of their employment data. With the enhanced consumer portal, users experience a more intuitive, mobile-friendly design with improved accessibility, new educational tools, and more robust processes to help manage employment information. That includes upgraded experiences to help users view their personal Employment Data Report (EDR), freeze their employment data, or file a dispute if they believe it includes inaccurate or incomplete information. The portal also delivers 24/7 access to expanded Help and Support content, including articles, user guides, and frequently asked questions.
Learn more about how The Work Number works for consumers in these videos.