New Smyrna Beach, FL, Nov. 07, 2024 (GLOBE NEWSWIRE) — Vault Verify, the leading innovator of outsourced employment and income verifications (VOIE) for HR departments across the U.S., has today announced recent enhancements to its service offerings and a broad expansion of its partner ecosystem. Announced last February, the Vault EDGe Gateway is a real-time API-based integration platform that, when connected to a company’s HCM platform, regulates data access, and enables a secure ecosystem for your HR tech vendors requiring access to sensitive HR data. Since its release, Vault Verify has continued to develop exciting new relationships and service features to add efficiency to its clients while maintaining the highest level of data security.
U.S. employers continue to face challenging employee data security compliance requirements. To protect consumers, the Consumer Financial Protection Bureau (CFPB) recently issued final “open banking” rules which, in part, state that “Third parties are required to limit collection, use, and retention of covered data to what is reasonably necessary to provide the consumer requested product or service.” The new regulatory compliance environment has motivated U.S. employers to find more secure HR tech solutions that improve data controls by eliminating third party external data storage. Existing customers of Vault Verify are discovering that the Vault EDGe Gateway already protects employee data, by only accessing PII when authorized by the employee, only sharing it with certified third parties designated by the employee, and finally disposing of the data after the transaction completes. Vault Verify regulates the data access and distribution to a network of employer-authorized HR tech service providers. This secure ecosystem for services that are traditionally prolific consumers of HR data is a solution available now that completely supports the new rules published by the CFPB.
Expanded Partner Ecosystem
In recent months, Vault Verify has significantly expanded the partner ecosystem that utilizes the Vault EDGe Gateway. These partners provide valuable services to employers and require employment and payroll data from employer HCMs to perform their duties. Now, they can use the EDGe Gateway to drive a more automated and streamlined process for employers that eliminates hours of manual work for inundated HR departments. Service categories and partners now include:
- Unemployment Claims Management – Charles Taylor, Michigan Health and Hospital Association, Sedgwick, UTCA
- Tax Credit Management – HireCredit, Sumit Credits, Synergi
- I-9 Compliance – Tracker I-9 by Mitratech
“For our joint clients with Vault Verify, we leverage the Vault EDGe Gateway to streamline the unemployment claims management processes for both our team as well as our clients,” states Sean McKelley, Sedgwick’s Vice President-Operations. “The EDGe Gateway’s real-time data integration allows us to reduce the amount of work on our joint clients because the information needed to effectively manage many unemployment claims can be retrieved directly through our integration with Vault Verify. The employer-sanctioned integration with Vault’s Edge Gateway is also very quick and easy to set up and requires no on-going maintenance for the clients.”
“Partnering with Vault Verify has been a game changer for HireCredit,” states Shawn Anderson, Chief Revenue Officer for HireCredit. “The Vault EDGe Gateway integration allows HireCredit the ability to provide tax incentive services like WOTC and Empowerment Zone Programs to companies who use payroll platforms that do not integrate with HireCredit. This real time integration provides HireCredit access to almost all businesses in the United States at minimal to no cost to the business. A game changer!”
New Features
In addition to expanding the partner network, Vault Verify has launched exciting new capabilities for government and non-profit employers via Vault PSLF, an automated system to simplify the Public Service Loan Forgiveness (PSLF) application process for employees and the HR departments tasked with application approvals. The service provides operational efficiencies by tracking the status of applications that have been submitted for approval, providing relevant applicant employment and compensation details for the reviewer, and preparing the form for quick approval and signature. Vault PSLF is available at no charge to employers enrolled in the Vault Verify verification service.
Lastly, we are excited to announce that customers of Infor, Oracle PeopleSoft, and Viventium HCM platforms can now benefit from the same real-time integration provided by the Vault EDGe Gateway. As recent additions to an already impressive lineup of supported HCM platforms that includes Workday, UKG, Dayforce, and many more, the HCM-agnostic Vault EDGe Gateway boasts the most comprehensive platform support in the industry today.
“As the stakes increase for employers to maintain proper employee data privacy, companies are being challenged to take back control of their data,” states Tim Fessenden, CEO of Vault Verify. “We’re excited to bring the benefits and security of the Vault EDGe Gateway to even more enterprises while continuing to add new features that help to unburden HR departments.”
About Vault Verify
Vault Verify creates value for HR by establishing a real-time API integration with all major HCM platforms. The Vault EDGe Gateway eliminates mass offsite data storage and provides up-to-the-second accurate information. We offer a completely free, automated employment and income verification platform for employers of all sizes, coupled with the highest level of data privacy and security. Our clients eliminate labor costs, reduce data exposure risk, and receive a unique revenue-share model to provide funding for other HR projects. Many “best of breed” HR technology vendors now access data securely through the Vault EDGe Gateway. If it is time to rethink your employee data protection, we would like to show you a better model.
To learn more, please visit www.vaultverify.com