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Instant Bank Verification

Verify banking and identity by looking back over 90+ days of transactional data.

WHAT IT IS:

Real-time access to transactional data from over 15,000 financial institutions worldwide. Instant Bank Verification verifies a bank account in real-time and provides up-to-date bank statements and multiple identity verifications.  Billed only on usage (‘hits’ only) and there is no implementation fee.

WHAT IT DOES:

Use Instant Bank Verify to:

  • Verify an applicant’s ability to repay a loan
  • Verify income and direct-deposit accounts
  • Verify an individual’s current and available account balances
  • Verify an SSN/SIN*
  • Verify Address and telephone number details*
  • Discover an individual’s other financial obligations and loans
  • Eliminate fraudulent bank statements
  • Eliminate the need for consumers to email or fax statements

*subject to availability based on location

WHAT IT IS USED FOR:

Used for underwriting, Instant Bank Verification reduces the time needed for loan decisioning allowing you to close more loans faster.

When combined with DailyData and BalanceChek products, Instant Bank Verification can also be used for debt recovery by monitoring account balance and ACH transactions.

Instant Bank Verification is safe, secure and industry compliant including the provisions of PCI DSS 3.0 and Safe Harbor regulations. Through Instant Bank Verification data is scoreable, customizable and fully automated. With a full summary report and 150+ data points returned.

Easily add these products for extra value.

DailyData

Gain visibility into a customer’s daily banking activity.

Learn More
BalanceCheck

Check a customer’s balances before accepting a check.

Learn More
ClearCheck

Confirm a check has cleared a customer’s bank account.

Learn More

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