We are delighted to announce the first platform for employment Data in Europe. It’s time to tell you more about our mission: empower workers to take control of their Employment Data.
Sharing employment information is often necessary to obtain credit, rent an apartment, or get insurance. As a leading indicator of solvency, applicants are required to provide proof of their professional stability.
While as a modern consumer, we expect seamless onboarding experiences with the advent of single sign-on and open banking, verifying employment information remains a highly manual process, ridden with friction.
When it comes to verifying employment situations, customers go through a painful process, wasting time collecting documents (e.g. payslips, contracts), and are often excluded when they don’t have a traditional full-time job. We see that companies also suffer from higher acquisition costs due to drop-offs and lack of access to verified data. They aren’t fully leveraging all the risk signals available within employment data (especially for non-traditional workers) which leads to suboptimal decisions.
We believe that we need seamless, secure and reliable access to augmented employment data. But how and where to start? Employment data comes from hundreds of sources that vary across different types of workers (i.e.HR software, freelance platforms, gig platforms etc.). While we plan to provide a solution for all workers, we decided to first focus on those who need it the most — i.e., self-employed.
Starting with self-employed
The self-employed status has been growing exponentially over the last decade. According to a report authored by Malt & BCG, more than 22 million workers are independent in Europe. But this growth had a low impact on how traditional institutions like Banks or Insurance companies underwrite customers. When a self-employed person has to justify her professional situation, she struggles as her income is not predictable. If companies want to build the customized financial products the self-employed need to thrive, it is essential to have real-time and granular access to their profile, income, and activity on the platforms they rely on.
Thankfully, a whole ecosystem is burgeoning to provide the self-employed with credit, pensions, financial coaching and many other solutions. At Rollee, we decided to start serving all these companies that improve the conditions of gig workers and freelancers.
A platform to simplify access to employment data.
Like the progress we’ve seen with Open banking, we are firm believers in the Open Data movement and aspire to pioneer and lead Open Employment data in Europe. And we are building different products to achieve this, starting with our API and onboarding link.
1: An API made by and for developers
APIs became the standard mode of testing and integrating a solution to a product. Especially in the banking industry, the cost of implementing all the capabilities needed to launch a new product has decreased dramatically. Banks aggregators, KYC, AML.. you’ll find an API for each data point, and now, Rollee answers your needs for employment data.
2: A link to make onboarding easier
With Rollee connect, we want to build a frictionless user experience for employment data collection. When it comes to asking your customer for their employment data, a single link is generated. We then handle the user journey until you receive your data output.
- Secure and consent-based access: we built all our processes based on end-users consent to share their data with third parties. We detail the way their data is used and use state-of-the-art encryption to secure it.
- Frictionless user experience: connecting accounts is the only customer action that has to be done. We collect, standardise and share data with our clients after verifying connection success.
Our mission: Empower workers to take control of their employment data.
We want to help workers, from self-employed to permanent ones, leverage their employment data to access more adapted credit offers, custom insurance, rental guarantees and many other services. As our economic system evolves, it is crucial to make it fairer with selection criteria based on workers’ situations and not one-size-fits-all. We want to thank our clients, investors and advisors who have supported us since day one in this journey. If you want to be part of the adventure and substantially impact an early-stage startup, we have several open positions waiting to be filled.