instant bank verification
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see. Instant Bank Verification. Providing real-time bank verification & status BalanceChek , ClearChek & PRBC. see. IBV will change the UK lending industry!. - PowerPoint PPT PresentationTRANSCRIPT
Instant Bank Verification
Providing real-time bank verification & status
BalanceChek, ClearChek & PRBC
see
see
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.
see
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: [email protected]
www.microbilt.co.uk