Bank, Finance and Leasing: Credit Union: Check an Applicant’s Credit and References
Check an Applicant's Credit Quickly, Thoroughly and Effectively for Your Credit Union
MicroBilt provides rapid access to accurate and reliable information gathered from the largest consumer and business credit reporting databases.
To conduct a quick but thorough credit check on a member at your Credit Union we recommend:
Consumer data is essential for your Credit Union to operate and you need a comprehensive, secure source for your mission critical information. Consumer credit data is a core building block in making credit, leasing, collection and hiring decisions. MicroBilt is your single source for credit reports from Equifax, Experian and TransUnion, as well as PRBC and Teletrack. Business reports are available from Dun & Bradstreet, Experian Business, Equifax Business and PayNet.
Approximately 50 million Americans have little or no credit history on file with the Experian, Equifax and TransUnion credit bureaus, yet they earn a steady income and meet regular payment obligations of rent, utilities, and recurring bills. These creditworthy individuals are often denied for credit offerings due to their 'thin' credit history and this offers your Credit Union a significant population of new members. MicroBilt's alternative data reports and services aim to bridge the gap between consumers seeking credit and Credit Unions seeking to qualify them.
This report combines important background information from the three top credit reporting database in one convenient report.
Bank and Trade Line Verifications allow your Credit Union to reduce the risk of falsified applications with little or no effort. Our Bank and Trade Line Verifications save time and money by verifying multiple bank and trade line references for you, which allows you to focus on managing your business. Basic information, e.g., account number and type, is verified in addition to up to 15 customizable questions. Verifications are sent to our call center for fulfillment and then an e-mail is sent when the report has been completed. You may also opt to fulfill verifications in-house.
MicroBilt's WatchList screenings include and go beyond basic OFAC requirements to include 63 different lists from 35 sources including FBI and INTERPOL most wanted lists at no cost when members conduct standard searches. By automatically providing comprehensive screening, MicroBilt helps Credit Union stay in compliance without having to determine for themselves when and what they should be checking.
MicroBilt offers to your Credit Union the leading identity verification products and services and cutting edge authentication products that will minimize the risk for your business. As part of each application, MicroBilt provides a complementary suite of verification tools; MicroBilt applications can automatically verify and populate an address, verify your applicant’s phone number, validate Social Security numbers and check the Social Security Administration's death master file for a match.