Halcyon, a provider of digital income and tax verification solutions, on Tuesday announced a new integration with Finastra, a financial services software company, to enable seamless digital management of IRS Form 8821 authorizations within Finastra’s Mortgagebot solution.
This integration provides financial institutions with a faster and secure way to retrieve and manage tax transcript data for income verification.
Tuesday’s news comes just a few weeks after Informative Research, a provider of credit and verification solutions to the mortgage lending community, announced the availability of Halcyon’s IRS tax transcript service within its verification platform.
Halcyon’s 8821 solution offers a fully digital process for obtaining borrower consent to access IRS tax transcripts, allowing it to automatically pull verified income data straight from the IRS. Built to integrate seamlessly with Mortgagebot workflows, the solution removes the need for manual intervention and speeds up loan processing.
“Financial institutions are under growing pressure to verify income quickly and compliantly while delivering a seamless digital experience,” said Mary Kay Theriault, senior director of product management at Finastra. “By integrating Halcyon’s 8821 tax transcript solution into our partner ecosystem, we’re giving our customers a faster, more secure alternative to traditional verification methods that helps accelerate time to close.”
Halcyon’s 8821 product works across mortgage, personal and business loans, making it easy to onboard borrowers and track authorizations in real time. The integration with Finastra securely pulls tax data straight into the platform, so borrowers don’t have to upload documents themselves.
“Our goal is to simplify income verification through automation and secure data access,” said Kirk Donaldson, CEO of Halcyon. “Integrating with Finastra brings that efficiency and compliance to the heart of the lending process, helping financial institutions reduce friction and close loans faster.”