The world of financial services is at a transformative juncture. The industry is bombarded with increased customer expectations and technological advancements that demand attention. Traditional banking models often encumbered by lengthy procedures and cumbersome paperwork, are now being challenged by a new wave of innovation that prioritises speed, efficiency and user experience. Amidst this shift, the concept of ‘automated onboarding process’ is evolving, which aims to redefine how customers initiate their relationships with financial institutions.

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AuthBridge, India’s largest authentication company, has partnered with TurboHire, an advanced AI-powered platform for all hiring, to streamline and enhance the candidate onboarding process for employers across industries. This strategic collaboration is designed to deliver a seamless, efficient, and compliant onboarding experience, allowing businesses to hire with confidence and precision.

With the integration of AuthBridge’s advanced verification solutions into TurboHire’s platform, the partnership ensures a quick and convenient background verification (BGV) initiation process that supports recruiters at every stage of the hiring process. By automating and simplifying data flows between platforms, recruiters and hiring managers can effortlessly manage candidate information, while initiating BGV checks as soon as the hiring decision is made.

In addition to fast and convenient BGV initiation, the AuthBridge-TurboHire integration enables effortless candidate data management. The transfer of candidate data from TurboHire directly into AuthBridge’s verification environment removes the need for manual data entry, reducing errors and speeding up the verification process. Recruiters can also benefit from live reporting capabilities, allowing them to track BGV progress in real time within the familiar TurboHire platform. This native environment reporting provides insights that help hiring teams stay informed and on schedule. Moreover, the solution is equipped with built-in compliance measures, ensuring that all verification processes adhere to applicable laws and regulations, safeguarding employers and candidates alike.

The verification matrix of AuthBridge showcases the exceptional performance of the integrated solutions, featuring an accuracy rate exceeding 99.97%, uptime surpassing 99.99%, and an average response time of less than 10 seconds.

The partnership combines instant and managed verification checks that ensure accuracy, security, and thoroughness. These checks include Instant Identity Verification, Employment Verification, Education Verification, Court Record Verification, Physical Address Verification, and human-assisted quality checks. This holistic mix of automated and human-supported checks ensures that each candidate’s profile is verified with the highest level of accuracy and reliability.

Ajay Trehan, CEO and Founder of AuthBridge, added, “Our collaboration with TurboHire empowers organizations to optimize their hiring processes on a larger scale. By integrating our advanced verification technologies with TurboHire’s robust platform, we create a seamless experience that accelerates onboarding while maintaining compliance. This partnership not only improves efficiency but also significantly boosts candidate satisfaction, ultimately helping businesses attract and retain top talent in an increasingly competitive landscape.”

On the partnership, Deepak Agrawal, Co-founder and CEO of TurboHire said, “We are thrilled to partner with AuthBridge to transform our candidate verification process. This integration not only streamlines the hiring journey by providing real-time insights and automated checks but also enhances our compliance framework. By ensuring that we hire the right talent efficiently and accurately, we position our clients to achieve greater operational effectiveness and a competitive edge in the market.”

This partnership positions both TurboHire and AuthBridge at the forefront of innovative hiring solutions, reflecting a shared commitment to enhancing the employee verification experience across various industries.

As the BFSI sector navigates rapid digital transformation, fueled by innovations like UPI and BNPL schemes, the demand for financial services and talent is at an all-time high. According to AuthBridge, a leading digital-first background verification and authentication solutions provider, the BFSI sector recorded 10.4% discrepancies in background checks for FY 2023-24, marking an 18.1% increase from the previous financial year. This uptick reflects the growing challenge of verifying candidate credentials in a highly competitive market, where individuals may resort to falsifying academic, professional, or personal information to secure positions.

The report highlights that employment verification discrepancies are the most prevalent, accounting for 14.6% of inconsistencies. This presents a significant risk to organizations, as inaccurate employment histories can hinder effective workforce management. Education verification discrepancies followed at 9.1%, pointing to the importance of validating academic qualifications. Additionally, 6.4% of address verifications showed inaccuracies, further emphasizing the need for reliable verification protocols to mitigate risks associated with identity misrepresentation.

Beyond employment and education checks, discrepancies in criminal record checks (CRC) and identity verification are also steadily rising. This increase in CRC discrepancies can be attributed to the overall crime rate in India, which has climbed from 422.2 crimes per million in 2022 to 445.9 per million in 2024, according to the latest report from the National Crime Records Bureau (NCRB). Additionally, AuthBridge’s Annual Trends Report 2024 (ATR’24) highlights that 73.4% of the overall reported discrepancies are in identity verification checks. These concerning trends underscore the critical need for comprehensive background screening frameworks, which are essential to protect fraudulent activities and compliance risks in any organization, especially for a sophisticated industry like financial institutions.

Commenting on the findings, Ajay Trehan,  CEO & Founder, AuthBridge, said, “The rapid expansion of the BFSI sector is a double-edged sword. While it brings growth opportunities, it also introduces vulnerabilities. As a trusted expert in the BFSI space, AuthBridge has observed that employment-related discrepancies are emerging as a significant concern. Financial institutions must prioritize the use of cutting-edge tech for end-to-end verification to not only safeguard against credential fraud but to build a foundation of trust and integrity that ensures long-term success.”

To stay ahead of evolving risks, financial institutions need to implement AI-driven verification solutions that ensure accurate background checks across employment, education, address, and identity credentials. As the BFSI sector continues to expand, building trust through transparent hiring and onboarding processes will become a critical differentiator.