Instant Bank Verification: Real lives. Real time.
Every life has a history. A rich and colorful tapestry woven from the places a person has lived, the things they’ve done, the goals they’ve accomplished. People they've loved and people who have loved them. It’s all beautiful, touching and totally useless if they want to borrow money from you.
That's why there’s Instant Bank Verification (IBV). Skip straight to the facts you need most when originating a loan: account owner, direct deposit info, NSF status, current and available balances, 90 days of transactional data and dozens of other essential account attributes. All available instantly and online.
Take the time and guesswork out of bank account verification. Faster. More in depth. More certainty, and more confidence.
Faster, Cheaper, Smarter
IBV verifies a borrower’s bank account in real-time and includes multiple identity verifications, allowing lenders to immediately and automatically assess the risk and bank account status of an applicant. IBV greatly increases convenience, for both the consumer and lender, by allowing fully-automated loan decisioning. Verification through IBV allows lenders to offer loans more quickly (reducing dropout) while lowering the cost of acquiring necessary information. With more essential data, lenders can better screen their customers and reduce risk.
Get the tool that’s revolutionizing the lending industry, and find out why IBV won the 2012 OLA Innovation Award!
Breadth of Information: the Data You Need to Manage Risk
In addition to verifying the existence of a specific bank account and authenticating the owner, IBV also offers:
- Transactional data (90 days)
- Over 100 aggregated data points
- Style sheet
- Risk score
- SSN verification
- OFAC watchlist
- Address details
- Phone details
- Customizable Decisioning
- Live chat and call center help available
Get direct deposit info, NSF status info, current and available balances, and more!
Check out a sample report.
Real-time access to over 96% (14,200+) of financial institutions in the US and 20,000 Worldwide and growing.
Available as fully integrated in XML & JSON, or through the microbilt.com site.
The end user can receive and complete the link online, or the application can be pushed via email or text to a mobile device.
Safe and secure. We are committed to protecting personal information and use 256 bit encryption and are PCI compliant. We employ the same protection that is required by credit card companies and banks.
In 2013, IBV will be expanding to multiple countries including Canada, the UK and Australia.
Close More Loans
With Instant Bank Verification, fewer borrowers will abandon the application process during the verification phase, allowing you to close more loans that are less risky.
BalanceChek and ClearChek – the ultimate add ons
BalanceChek gives you the ability, during the recovery process, to check the actual balance. Now, you will know if an ACH will clear. If not, you’ll know how much can be drawn, allowing for partial collections.
ClearChek verifies that an individual ACH has cleared, so another loan can be issued.
Both of these tools not only reduce representment fees and bounces, but also lead to a better relationship with your bank.
There are lots of ways to find out information about people, and their histories. But the information you really need? That’s what you get instantly from IBV!