70% of Reed's business clients require a verified bank account for contractors before they can be placed.
About Reed Recruitment
Sir Alec Reed opened the first REED office in Hounslow, West London on 7th May 1960. In the early 1960s, he pioneered specialist recruitment services, a move which fundamentally changed the UK recruitment market. Today, Reed is one of the largest recruitment companies in the UK operating in 20 recruitment specialisms across hundreds of offices in the UK. Reed places contractors in various roles across sectors such as IT, Logistics, Healthcare and Education.
Challenge
To ensure contractors get paid in a timely manner, it is essential to have correct bank details. Furthermore, 70% of Reed's business clients require a verified bank account for contractors before they can be placed.
Whilst Reed had used Bank Validation in their legacy system for many years which had proven to be extremely robust, as they transitioned to a new system, they needed a modern validation system that would be as reliable and robust as the one they had relied upon previously.
Solution
Reed Identified Data8 Bank Validation as a possible fit due to the flexible API. As the company uses a bespoke system, it was important that they could use an API that would return validation results quickly, securely and with the highest level of uptime possible. Working with a dedicated Data8 Account Manager as well as the Technical Team, Reed were able to test and implement Bank Validation in their new system and quickly meet the objective of retiring their legacy system.
Results
Following the implementation of the new system, Reed saw a number of significant benefits for both them and the contractors working for them, including:
- Supporting two systems is no longer necessary
- Reduction in duplicate data
- Improved User Experience for contractors - Bank Details are now verified at point of capture via the Reed web portal, meaning validation is instantaneous.
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