Income Passport with Data Ferret

SteadyIQ’s Income Passport is powered by what we refer to as our “Data Ferret.” The Data Ferret is a collection of processes and algorithms designed to make sense of user-permissioned data in order to make the income verification process 1) easier for individual users while 2) ensuring the integrity of each Income Passport report for partners.

Income Passport collects data from various sources, such as linked financial institutions, payroll accounts, user-provided files, and third-party sources. As these data and files are compiled in SteadyIQ’s database, the Data Ferret begins cleaning, enriching, and analyzing this financial data for both personal and business needs. The result is an Income Verification report that can be used for both personal and business purposes.

Since Data Ferret is part of the Income Passport SaaS solution, both SteadyIQ’s partners and users benefit as our AI/ML models continually get smarter. 

What can SteadyIQ’s Income Passport verification reports be used for?

The SaaS solution powered by our Data Ferret can provide various services, including employment and income verification, identity verification/personal background checks, benefits program qualification, financial analysis, and fraud detection. 

For our users

• Everyday bookkeeping, business administration, and tax preparation

• Personal and business analysis, including statistical analysis, of compiled financial data for a variety of purposes, including preparation of business reports and assistance with personal finance.

• An easier way to navigate their financial data by leveraging our searchable database. 

• Information about the legal eligibility requirements for government and other programs they may be applying for.

For our partners, SteadyIQ’s Income Passport provides

• Income verification services via compilation of personal/business financial information for:
  • • Financial auditing, including for regulatory compliance
• Employment verification, which can be used to 
  • • validate the existence of income 
    • Validate the identity of an employer
    • Provide additional credibility to any reported job type and associated skills/knowledge associated with specific jobs on behalf of our partners.

• Identity verification, including registering, screening, and the verification of credentials (e.g. name, address) of individuals/businesses.

• Financial auditing for both individuals and businesses.