Westpac reviews Xref's online reference checking software and discusses the improvements they have seen in turnaround time, costs and headcount efficiency.
It takes, on average, just 22 hours to turnaround references
44% of references are completed outside traditional business hours
Westpac references now include, on average, 300 words per report
Westpac started using Xref in 2012, in order to centralise reference checking practices across the organisation. Prior to introducing Xref, reference checking was consuming too much of the team's time and, as a result, it had become an expensive exercise.
Since adopting Xref, the team have enjoyed a dramatic reduction in the time taken to complete reference checks, as well as improved individual efficiency and an overall cost reduction for referencing across the business. The Xref solution has also given Westpac a legally-binding approval and consent process that takes place before referees provide a reference - a small element of the process that offers significant reassurance.
Using Xref, Westpac has:
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Have detailed reference checks completed within 24-36 hours.
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Receive notifications of suspicious activity with Xref's multi-touch fraud algorithm.
