Finastra and Halcyon Join Forces for Smooth Implementation of 8821 Tax Transcript Authorization and Income Verification Processes
Finastra, a global leader in financial services software, and Halcyon, a leading provider of digital income and tax verification solutions, have announced a new integration aimed at simplifying income verification for mortgage lenders. The integration will allow financial institutions using Finastra's Mortgagebot solution to digitally collect borrower authorization for IRS tax transcripts and automatically retrieve verified income data directly from the IRS within Mortgagebot’s workflows.
Kirk Donaldson, CEO of Halcyon, stated that the integration aims to simplify income verification through automation and secure data access. "Our 8821 tax transcript solution streamlines digital income verification for financial institutions, enabling lenders to digitally collect borrower authorization for IRS tax transcripts and automatically retrieve verified income data directly from the IRS," he said.
Mary Kay Theriault, Senior Director, Product Management at Finastra, added that the integration of Halcyon's 8821 tax transcript solution into their partner ecosystem provides a faster, more secure alternative to traditional verification methods that helps accelerate time to close. "The integration allows for seamless digital management of IRS Form 8821 authorizations, automated retrieval of tax transcript data directly from the IRS, real-time authorization tracking, and flexible borrower onboarding. It also eliminates manual document handling, reducing friction for both lenders and borrowers," she explained.
The Halcyon 8821 integration is designed to help financial institutions verify income quickly and compliantly while delivering a seamless digital experience. By integrating directly into Mortgagebot workflows, the solution eliminates manual steps, reduces processing time, and enhances borrower satisfaction. The integration provides financial institutions with a faster, more secure way to retrieve and manage tax transcript data for income verification.
The Halcyon 8821 product offers flexible borrower onboarding and real-time authorization tracking. It supports a wide range of lending types including mortgage, personal, and business lending, helping financial institutions meet regulatory requirements while improving operational efficiency and borrower satisfaction.
The Halcyon 8821 integration is now available to Finastra's MortgageBot customers across North America. According to Kirk Donaldson, integrating with Finastra brings efficiency and compliance to the heart of the lending process. "We are excited to partner with Finastra to help mortgage lenders streamline their income verification process, reduce friction, and close loans faster," he said.
[1] Finastra Press Release
[2] Halcyon Press Release
[3] Banking Technology
[4] Finextra
- The collaboration between Finastra and Halcyon in integrating Halcyon's 8821 tax transcript solution aims to provide financial institutions with a faster, more secure way to retrieve and manage tax transcript data for income verification, thereby enhancing overall business efficiency and compliance.
- The Halcyon 8821 integration, now available to Finastra's MortgageBot customers, offers a seamless digital experience for borrowers while ensuring compliant and rapid income verification, with advancements in technology enabling automated data access and streamlined financial processes for business lending.
