AMP Bank fast-tracks lending with Equifax partnership

As part of the rollout of our new AMP Bank Broker Platform, we’ve partnered with Equifax Verification Exchange to streamline income and employment verification. This integration means faster approvals for brokers and their customers.

AMP Bank is continuing to invest in technology that simplifies lending and improves broker and customer experiences. As part of the rollout of our new AMP Bank Broker platform, we’re pleased to announce our partnership with Equifax, one of Australia’s leading providers of verified financial data. Through this integration, AMP Bank is introducing another way to verify income for PAYG applicants—reducing the time it takes to get to ‘yes’ and easing the burden of document collection.

This partnership forms part of our broader strategy to digitise and automate the home loan process. It also reinforces our commitment to helping brokers deliver faster, simpler outcomes for their clients in an increasingly competitive lending market.

A game-changer for PAYG verification

Equifax’s Verification Exchange® is a consent-based platform that provides secure, real-time digital access to employment income data. It is one of two providers AMP Bank is using to verify PAYG income as part of our broker platform transformation.

What sets this solution apart is its accuracy, automation, and speed. Employment Income information is sourced directly from employers, payroll providers and other integrated data sources and delivered in real-time, which means that there is no need for the applicant to upload copies of their payslips to verify their income.

For brokers, this means less paperwork and fewer touchpoints, while giving them greater confidence that the data they’re working with is verified and compliant with responsible lending obligations.

Seamless, secure and smart

This integration is built directly into the AMP Bank Broker Platform powered by Loanapp. When a broker submits a PAYG application, Loanapp connects to Equifax Verification Exchange to search the applicants for a match. If a match is found, Equifax provides the customer’s verified income based on payroll data and AMP Bank’s income rules.

The verified income is then displayed side-by-side with the income declared by the broker. This gives brokers the ability to run serviceability scenarios on both figures and select the path that works best for the customer.

If the broker chooses to proceed with the verified income, the application can move through the system faster—reducing approval time and improving the customer experience.

This is a significant step toward replacing documents with data, without compromising security or privacy. Verification Exchange is proudly Australian-based and fully aligned to the Australian Privacy Principles, helping lenders like AMP Bank manage risk and uphold responsible lending obligations.

Supporting brokers with faster, more reliable workflows

Our partnership with Equifax is more than a technical integration—it’s part of a broader commitment to supporting brokers with smarter tools and reducing admin for them and their customers.

By eliminating the need to manually collect, interpret or verify income documentation for PAYG applicants, we’re making it easier for brokers to focus on what they do best: helping clients reach their homeownership goals.

Equifax Verification Exchange also plays a vital role in mitigating fraud risks, including salary staging, inflated income declarations, and payslip fraud—giving both AMP Bank and our broker partners greater peace of mind.

Built for brokers

The new AMP Bank Broker Platform has been designed from the ground up with brokers in mind to deliver a faster, more consistent home lending experience.

Our focus remains on simplifying the process, reducing turnaround times and giving brokers the tools they need to succeed in today’s lending environment. The Equifax integration is one of many enhancements we’re rolling out to make that vision a reality.

We’re excited to bring this capability to market and can’t wait for you to experience the difference it makes.