As your customers earn money from both shift based work and never gig / unit-based work, it becomes incredibly valuable to understand earning patterns and current available funds on your customer base. This is one of several features Argyle makes accessible to its clients.

With Argyle, a your business can gain has real-time earnings transparency into each of it’s customers. Through their platform, you can access income earned before it is deposited to a financial institution as part of an employer’s normal payout process. This helps a company anticipate potential cash-flow issues, make adjustments early, and develop transparency and trust with employees when issues arise. 

Additionally, Argyle provides abnormal activity detection. A user can detect when a user’s income becomes abnormal or below normal levels, and adjust accordingly.

Here’s Argyle’s process: First, a user is asked to add his or her company accounts to verify earnings through a easy to use user flow. After an account is successfully connected, earnings data is scanned in the background and sent directly to your business. The user experience is embedded within your application so the user never needs to leave your site. 

These features matter because, while pay transparency is a hotly debated issue, it matters if your customers’ earnings are sufficient or commensurate to their work. According to LinkedIn’s Global Talent Trends 2019 report, 27% of HR and hiring professionals say their company currently shares salary ranges with employees or candidates, with a further 22% saying they’re likely to start within the next 5 years. But for more than half (51%), salaries are kept secret. 

Argyle benefits users in another way by offering real-life employment and income information to help clients gauge financial decisions (for example, processing a loan application and wanting to determine an applicant’s work and income history). Before, there was limited available information about applicants. With Argyle, a user has access to real-life employment and income information to drive more precise decisions.

As founder Shmulik Fishman explains:

“Verification of a person’s employment and income is nothing new. Governmental agencies, as well as businesses (from lenders to insurers to employers themselves) have been conducting these verifications for as long as documents have been falsified. The most basic way to conduct this type of verification is to communicate with the employer directly and just ask. Said another way, If ‘Sara’ is applying for a loan from ‘Bank A’ and Sara states that she makes $55K a year working at the Olive Garden, Bank A will contact the Olive Garden and make sure Sara’s claim is valid. The volume of these verifications is immense; estimates suggest that at least $100B is spent on this type of claim each year. This demands a lot of personal interfacing. So, ancillary businesses [like Argyle] have been created to facilitate this process.”

The problem many companies face is onboarding users who make money from a variety of sources across the W2 and W9 spectrum and are not easily verified with legacy solutions like Equifax. As a solution, Argyle provides the most complete, accurate, and up to date way to understand income, and work status across W2 and W9 platforms. This solution works in real-time and is continuously updated, with real-time understanding of date of last job, account status with platform, and earnings. Customers gain a better experience with more detailed data than legacy providers like Equifax.

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