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MicroBilt announces Instant Bank Verification (IBV), has been integrated with Payday Loan Manager’s Loan Management System (LMS)

KENNESAW, GA, Jul 15, 2012

Today, MicroBilt Corporation announced that its revolutionary bank account verification tool, Instant Bank Verification (IBV), has been integrated with Payday Loan Manager’s Loan Management System (LMS). This partnership will give Payday Loan Manager’s online lending customers access to MicroBilt’s breakthrough technology, which gives lenders the necessary tools to successfully automate online loan decisions. IBV is the first real-time bank account verification tool. It instantly provides decision-critical account information, which drastically increases the speed, and reduces the risk, of online loans. IBV automatically delivers six distinct account attributes, including the existence of a specific bank account, amount of time the account has been active, and whether or not the applicant has their paycheck directly deposited to that account. Additionally, IBV can determine the frequency of these deposits, as well as the number and frequency of NSF instances from the account. IBV will also determine whether the account has a positive or negative balance, and what the balance is. All of this is done in real-time over a secure network. The integration is part of MicroBilt’s continuous effort to provide online lenders with enhanced analytics to optimize overall portfolio profitability. “The partnership with Payday Loan Manager is one of many steps in helping businesses in the alternative lending space make better decisions on their borrowers,” said MicroBilt Corporation’s Senior Vice President, Sean Albert. “We will continue to expand MicroBilt’s leadership position in the online short-term lending market by leveraging best-in-class data solutions.” About MicroBilt
MicroBilt is the leader in serving small businesses with data and tools that they need to manage business risk and make informed lending and hiring decisions. MicroBilt offers the small business owner simple, cost-effective solutions for fraud prevention, consumer financing, debt collection, and background screening. With its PRBC® Consumer Report with the FICO® Expansion® Score, MicroBilt is the leading provider of alternative credit data to businesses that want to offer credit and other financial services to the over 100 million underserved consumers in the United States. For more information, visit www.MicroBilt.com

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