Sometimes an applicant will not link their employer directly using VEROLynk. This will cause the verified amounts to show 0%.
Reviewing the income and balances section on an application should always be done in tandem with the Renter profile. This is because if an applicant links to a payroll provider or company via VEROLynk. A "Linked Automatically" tag will be visible under employment history.
100% VEROfied
Income Streams: An example of an active income stream, showing the source (which matches the stated employer), status (active vs. inactive), frequency and last payment, and payment details.
Partial VEROfication
VERO was only able to verify 76% of the applicant's stated income. A reason for this could be that they do not receive all of their income in the account that they linked (their direct deposit is split between two accounts, or they have additional income coming into another bank account they did not link to).
0% VEROfied - Linked Bank Account
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Income: This is 0% VEROfied because the applicant did not link a company or payroll provider OR an account that receives their income streams (direct deposit). In this case, the applicant did link a bank account, but no income streams were detected. Applicants also have the ability to add a note which will be surfaced here in the application.
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Stated Employer: The employment information is entered on the renter profile step.
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Balances: The amount of cash an applicant has available in their bank accounts that is not direct income. Applicants can link as many bank accounts as they want.
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Income Streams: If an applicant linked to the bank account that receives their direct deposit, OR they connected to a company/ payroll provider, their income streams (active or inactive) will appear here. If you see N/A this is an indication that the applicant was unable to connect to their employer or bank account. This could be a result of the applicant being unemployed. In the case, the applicant was able to link and N/A still appears, this could be an indication of a previous employer or the bank account they connected is not the active account receiving their direct deposit.
Account Details: Bank account details of the account the applicant linked to, including account name, type, Bank name, and the cash available and current balance. You will notice here the amounts differ, because some of the balance may not be readily available as cash at the time of the link.
0% VEROfied- No Link
No bank accounts or employers were linked on this application so nothing was VEROfied.