Bank verification is a critical part of risk assessment. Understanding a prospects banking status and history can you understand their propensity for managing credit.
Bank verification can also play a role in identifying the assets and tracing the location of customers whose accounts may be delinquent.
MicroBilt’s bank verification products fall into two categories.
Reduce the time needed for loan decisioning. Instant Bank Verification provides transactional data from over 15,000 financial institutions worldwide.Learn More
Bank Account Verify helps lenders reduce underwriting risk by leveraging a consumer’s reported banking history to more precisely identify qualified borrowers and better predict loan payment default.Learn More
Verify a consumers banking information by pairing it with ABA numbers. Used to flag fraudulent activity.Learn More
A cross-institutional view of a consumer banking activity.Learn More
Risk Verification Database (rVd) Basic looks at historical data on a bank account to predict if an electronic check or ACH debit will process without returning.Learn More
Risk Verification Database (rVd) Plus combines the historical power of MicroBilt’s Risk Verification Database with multiple banking, retail, and billing sources to predict the current status of the bank account.Learn More
Easily added to Risk Verification Database Basic or Plus, the OFAC Watchlist Add-On Enhancement is a simple and efficient means of comparing the name of any consumer initiating a transaction to the OFAC prohibited list, thereby keeping your business compliance with federal requirements.Learn More
MicroBilt’s bank verification products are used across industries for loan origination, risk assessments, fraud detection and debt collection.
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