Case Study: Renasant Bank achieves faster, lower-cost income verification with Argyle

Renasant Bank cuts verification costs 80% with Argyle

Renasant Bank, a financial institution with over a thousand loan officers, faced an inefficient and costly income and employment verification process. Their legacy provider offered little advantage over manual methods, creating delays and failing to provide optimal data for representation and warranty relief. Seeking a modern solution, the bank turned to Argyle for its verification of income and employment (VOIE) service.

By implementing Argyle's direct-source, consumer-permissioned platform, Renasant Bank achieved significant improvements. The solution provided real-time payroll data, leading to a 58% verification conversion rate. This resulted in R&W relief on more than half of their GSE-delivered loans, an 80% reduction in verification costs, and time savings of 20 minutes per loan in underwriting, allowing teams to operate with greater speed and confidence.

Renasant Bank