instant bank verification

Instant Bank Verification

Providing real-time bank verification & status

BalanceChek, ClearChek & PRBC

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IBV will change the UK lending industry!

Proprietary technology that verifies a borrower’s bank account in real time, allowing a lender to immediately and automatically assess the risk and bank account status of their applicants.

Boost Loan Portfolio Value & Performance.

IBV instantly verifies:

• Existence of a bank account• Time the account has been active• Account credits• Frequency of direct debits• Insufficient funds overdraft (OD) status• Balance + or – in £100 increments

Real-time access to over 20,000 financial institutions Worldwide.

How it works…

See it in action…

Applicant goes online and searches for a loan…

…arrives at a lending provider’s site either organically or through a lead generator

See it in action…

A button (link) is inserted into the lenders page for the applicant to verify their bank information with the IBV process

Applicant fills out loan questionnaire

Studies show a 70% click rate

Screen overlays the lender’s site

Policy & termsare accepted

Information is pre-populated from lender site

See it in action…

IBV is the product and process for the lender.

PRBC is the applicant’s end-user interface

Policy & termsare accepted

See it in action…

IBV is the product and process for the lender.

PRBC is the applicant’s end-user interface

Verification interface can even be pushed to the user for completion via mobile device or kiosk.

See it in action…

Challenge questions are presented, if any

Applicant inputs personal bank information

Session is ended by applicant

A ‘Thank You’ from PRBC is sent out to applicant

Unbiased data is sent to lender for a loan decision

See it in action…

Applicant automatically returns back to lenders page for loan decision

See it in action…

Distinct Advantages

Better DataDirect access to the bank account dataA true, real-time picture of the applicant.

Speed1 second up to 1 minuteComparable verification calls can take up to 20 minutes.Information is available 24x7.

CostA fraction of the cost of current loan decision makingComparable traditional loan making decisions cost up to £15.00.

Add on Products

BalanceChekDuring the recovery process lenders can check to see if the cheque will clear and if not how much can be drawn.

Available via batch and/or API

Leads to a better relationship with the bank.

Add on Products

Other add-ons coming soon…

ClearChekLenders can now check to see if the cheque cleared so another loan can be issued.

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payment reporting builds credit

Payment Reporting Builds Credit

Unlike traditional credit scores that are based solely on how well consumers have managed certain kinds of loans and credit cards, the PRBC Alternative Credit Score proves their financial responsibility through other means, such as paying rent, utility, phone/cable, insurance and other bills every month.

The payment histories for these are utilised to create a PRBC Score which reflects consumer behaviour and habits.

Contact me for more information

Simon Williams Managing Director

Office: 01905 670 790

Email: simon_williams@microbilt.co.uk

www.microbilt.co.uk