Assertion Contradicted AI assessment confidence: 85% certainty 4/5 debate potential 2/5

Fishman: Most income verification services are handled manually via paper and phone banks

Shmulek Bachar · He built Uber for parking & exited. Then raised $100M+. Here's his formula for finding product-ma... · PMF Show · May 20, 2024 · at 30:47

Argyle founder Shmulik Fishman explains that manual workflows represent the largest share of the income verification market.

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“The majority of income verification services happen manually. So our largest competitor is paper, is phone banks, is emails, is scanners.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

The majority of income verification services are conducted manually via phone banks, emails, paper, and scanners.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

Industry volume data and market analyses indicate that automated and digital solutions account for the majority of income verification transactions, rather than manual methods (phone banks, email, paper, and scanners). Equifax's automated database, The Work Number, alone fulfilled 144 million automated verifications in 2023. Furthermore, digital software and database solutions accounted for 61.2% of total market revenue in 2025, and Fannie Mae reported that over 80% of acquired loans in 2024 utilized automated digital validation. While manual verification remains a widely used fallback when automated database lookups fail (representing 20% to 50% of non-hit waterfall flows and covering non-traditional workers), manual processes do not represent the majority of overall income verification volume.

Equifax reported that The Work Number fulfilled 144 million automated income and employment verifications in 2023.
Dataintelo's May 2026 industry report found software and digital solutions accounted for 61.2% of the $3.8 billion income verification market revenue.
Fannie Mae reported that over 80% of mortgage loans acquired in 2024 utilized Day 1 Certainty digital validation.
Lender verification architecture relies on automated API and database lookups as the primary verification layer, routing to manual processes primarily as a secondary fallback.

Checked against

[1] crscreditapi.com [2] mastercard.com [3] fideres.com [4] truv.com [5] superunit.com [6] equifax.com [7] equifax.com [8] nationalmortgageprofessional.com

"income verification" percentage manual automated lending report 2024 OR 2023 OR 2022 "Day 1 Certainty" percentage of mortgage loans automated income verification "The Work Number" percentage of verifications OR market share income verification income verification manual automated percentage lending industry report percentage of income verification manual VOE VOI lending benchmark "The Work Number" hit rate percentage income verification mortgage "The State of Income & Employment Verifications" "Argyle" "manual verification" percentage "paystubs" mortgage lending "Freddie Mac" OR "Fannie Mae" income verification methods percentage manual payroll data fintech report "income verification" "manual" "phone" "fax" "percent" OR "percentage" mortgage lending percentage of lenders using manual income verification 2024 OR 2023

assessed as of 2026-09-05

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income verification services

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Assertion Contradicted

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Fishman: Most income verification services are handled manually via paper and phone banks

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