Financial Background Check for Financial Credibility

Run an accurate financial background check on potential employees in the financial or any other industry. Peopletrail® provides reliable financial screening services you can count on.

Peopletrail reviews credit histories by obtaining a credit bureau report from our online access to the three major credit bureau reporting systems. When considering an applicant for a sensitive position, it is important to have a clear and concise profile. Credit reports can reveal factors relating to financial irresponsibility. In addition, credit reports uncover any possible identity or resume fraud by revealing name variations, historical addresses, and past employment information.

A credit report for employment purposes does not include FICO scores and does not affect the FICO score or display to creditors.

Trusted and respected by government agencies and Fortune 500 to small up-and-coming businesses, Peopletrail provides Actionable insight you trust.®

 

We believe in adding the 'Human Touch.'

We aim to bring "people into the process" on all our thorough background checks. Over the years, we have learned how much value the HR professionals give to accuracy and compliance while screening employees. Peopletrail's human touch and actionable insight will remove any remaining errors from a screening report.

Why Should You Choose Peopletrail's Accurate Background Checks?

Peopletrail understands the specificities of the financial sector. When you partner with us for your employment background screening, you get to enjoy fast and accurate results in record time. You also reduce the risk of making expensive hiring mistakes that may harm your business reputation and affect the overall team morale. Bad hires also increase the risk of negligent hiring litigation.

Peopletrail is a leading background screening provider and offers several benefits that make us the preferred choice for countless organizations. We have a no-compromise policy on the accuracy and precision of data. A few of the benefits of choosing us as your screening provider are:

  • Verification of biographical information and candidate credentials
  • Enhanced security and safety of your vendors, employees, and customers
  • Confidence in hiring decisions
  • Quick talent acquisitions
  • Reduced employee turnover
  • Saving precious screening time and resources for businesses.
  • All background checks under one roof.
credible financial check

Financial background checks are different from credit history checks

Financial background checks are routinely and mistakenly assumed to be similar to credit history checks. Credit history may be a part of a financial check, however, in financial background screening reports, employers are not provided credit scores. Instead, they learn details like limits on different credit types, highest credit extended, balances, past due amounts, average monthly payments, and percentage of credit still available.

Financial background checks may also provide information about bankruptcies, civil suits or judgments, collection amounts, accounts in collection, and tax liens. As per the FCRA, background screening companies are not allowed to divulge credit scores of a candidate for employment purposes.

 

Fortunately, Peopletrail financial background screening only involves a soft inquiry into the candidate’s credit report. This does not affect their credit score negatively and allows for a better onboarding experience.

Peopletrail allows financial service organizations to hire professionally screened employees and help mitigate risk and fraud. Our customized solutions are managed by a dedicated team of account managers that make sure you have the timely and accurate credit check results you can trust.

With screening services including credit check for employment, drug testing, employment history verification, ATS integrations, and more, Peopletrail can fully meet all of your screening needs. Only Peopletrail combines state-of-the-art technology with screening specialists to deliver compliant, quick, and accurate results.

Peopletrail® PBSA accreditation

An accredited background check is essential in the hiring process. Only less than 3% of the entire consumer reporting firms in the United States are PBSA® certified. That means approximately 97% of background check companies you partner with are under no commitment to give you accurate data. These businesses don’t have certifications that protect your organization’s interests or your employee’s rights, leaving you liable.

Each year, U.S. employers request millions of background checks. And each year, improper background check practices result in thousands of FCRA lawsuits and millions owed by employers. Accreditation is an important seal of approval to look for because it offers unbiased validation that we are actually doing what we promise. The best way to ensure an accurate and efficient onboarding process is to work with an accredited screening company.

The Peopletrail® difference:

  • 1.6 Days of fast turnaround time
  • Dedicated account managers
  • ATS Integrations
  • Actionable Insight® with the human touch
  • Legal compliance
  • Consumer protection
  • Information security
  • Organizational integrity and ethics
  • Ability to train and educate clients
  • Accuracy and depth of products
  • Quality and accuracy of public record researchers
  • Expertise in FCRA background check

Helping businesses stay compliant

A financial background check is something organizations consider when they are looking to fill a position that gives their employee access to sensitive information, financial documents, company accounts, and other financial resources. Generally, businesses feel that a criminal history check is enough to spot the red flags, such as identity theft and convictions for fraud or embezzlement.

However, candidates with a clean criminal record may pose a serious threat to your organization if they are carrying massive financial debt. This is where financial background checks from Peopletrail can help. One problem here is that credit check reports are more tightly regulated by the Fair Credit Reporting Act (FCRA) as opposed to simply a criminal or another consumer report. These checks are also subject to state laws which differ at both county and state level. You may not be allowed to obtain or use financial screening for employment in several places of employment.

Peopletrail has decades of experience helping businesses stay in compliance. We can help ensure that you have a permissible purpose before ordering the financial background check and that it is valid under both state and federal laws. There are certain states or even cities that do not allow this type of screening under any circumstances.

Unless certain exemptions apply, in jurisdictions like Philadelphia and Washington DC, employers are barred through legislation to inquire into a candidate’s financial information. There are many other states and cities that have adopted similar ordinances. The argument in favor of these laws is that integrity and moral standards of a person cannot be based on poor credit scores.

Financial irresponsibility in many cases has nothing to do with mounting debt and basing an employment decision on this is irrelevant, unfair, and discriminatory.

financial background check turnaround time

Peopletrail® financial background screening

There are many things that are included in the Peopletrail financial background check. We believe our reports could be invaluable to your hiring decision, regardless of the industry vertical you operate in. It is important to understand that financial screenings are not conducted to reveal criminal infractions or financial crimes. These show up in a thorough criminal background check.

Instead, financial screenings are supposed to assess whether the candidate is financially responsible and provide information about the way they manage their money. There are several organizations that require these screenings as part of the pre-employment background check, especially when the candidate is being hired for a position that involves financial access or responsibilities.

It is important to gain a complete picture of how candidates handle finances in their personal lives if they will be attaining access to sensitive financial information, funds, and assets. Peopletrail can help you filter out candidates that do not meet your risk tolerance through a comprehensive and in-depth financial background check.