Steady IQ: Revolutionizing Income Verification For Public Benefits

SteadyIQ’s Income Passport is a user-permissioned income verification solution that simplifies the process to verify income when applying for public benefits. Before SteadyIQ, government agencies often had to revert to a manual process, which required applicants to find, assemble, and upload proof of income documentation, like tax returns, paystubs, and bank statements. With SteadyIQ, this cumbersome and touch-point heavy process can be replaced with a streamlined, tech-enabled flow. Once an applicant is directed to SteadyIQ from an agency’s workflow, Income Passport guides applicants through the process to name their income sources and connect to the accounts where they earn income, like deposit accounts and payroll providers. Leveraging AI and machine learning models, our technology cleans, enriches, and conducts forensics on an applicant’s data, ensuring their income is correctly classified and categorized and deduplicating income across multiple accounts. A summary report of their income is generated, which an applicant must review and certify as accurate before consenting to send it back to the agency. While they must consent to send the data back, they are not able to manipulate the data, which ensures its accuracy. This process generates a total income report, covering both earned and unearned income.

Our user-permissioned and consent-based model has benefits for both the applicant and agency. For the applicant, our process lowers the time tax in applying for public benefits with a simple flow; at the same time, it can help expedite a benefit determination, and if eligible, a benefit delivery. For the government agency, it can create efficiencies by avoiding touch-point heavy review processes and simplifies the math to make determinations and reduces backlogs. It also has the potential to reduce fraud because it relies on verified data direct from applicants’ accounts and payroll providers. In the end, SteadyIQ’s Income Passport is an innovation in income verification that promises to make the public benefit application and eligibility process more effective for all stakeholders involved.