Obtaining a bank loan for a small business can be difficult, especially for new companies without a financial history. Even if you meet strict credit and revenue requirements, the loan process still requires significant time and effort. As a result, many businesses are turning towards alternative lenders to avoid the hassle of securing conventional financing - and for good reason.
Full ArticleIf you're looking to gather detailed information on a customer, a license plate lookup tool might be the right way to go. By simply entering data on a car (e.g., VIN, license plate number, tag number, etc...), you can access detailed records on the vehicle and its owner in seconds.
Full ArticleThere are many ways to determine someone's creditworthiness. Unfortunately, the same traditional methods are often used, excluding large groups of potentially reliable borrowers; that's where alternative credit scores can help. This contemporary scoring method gives lenders a modern way of measuring a consumer's creditworthiness using factors not traditionally considered.
Full ArticleWith over 4,000 banks and just under 5,000 credit unions scattered across the country, it’s hard to believe consumers don't use at least one financial institution. However, this is very common, with 25 percent of the population labeled as unbanked or underbanked. But what's the difference between these two types of customers?
Full ArticleIdentity verification has become a crucial aspect of today’s business world, particularly for financial institutions and e-commerce companies. Unfortunately, keeping up with the latest techniques can be challenging, with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations constantly pushing the advancement of identity verification methods globally.
Full ArticleMore lending businesses are using ACH payments as a payment method, but they need bank verification to mitigate potential risks. Keep reading to learn more.
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