http://new.microbilt.com/news/article/ach-network ACH (Automated Clearing House) payments have been a gamechanger for merchants. The efficiency, speed, and convenience make for a hassle-free experience when making or receiving payments. Fri, 09 Feb 2024 15:10:58 GMT Business Credit and Data http://new.microbilt.com/news/article/ach-network http://new.microbilt.com/news/article/common-payment-processing-probl Payment processors are facing more challenges than ever. Fraud, compliance, and increased competition are all placing more pressure on businesses looking to retain their customers going into the new year. Thu, 08 Feb 2024 18:01:46 GMT Uncategorized http://new.microbilt.com/news/article/common-payment-processing-probl http://new.microbilt.com/news/article/how-to-account-for-growing-student-loan-delinquencies In the current high-risk economy, where student loans constitute a significant portion of many individuals' debt, lenders increasingly recognize the need for a more nuanced approach to customer relations and debt management. Thu, 25 Jan 2024 15:28:24 GMT Uncategorized http://new.microbilt.com/news/article/how-to-account-for-growing-student-loan-delinquencies http://new.microbilt.com/news/article/how-lenders-can-combat-growing-delinquency-rates Borrowers are defaulting on car loans at the highest rate in 27 years There are several reasons for the unprecedented growth in delinquencies. Below, we cover three primary issues causing financial stress on consumers in the current economic environment. Thu, 25 Jan 2024 15:16:52 GMT Uncategorized http://new.microbilt.com/news/article/how-lenders-can-combat-growing-delinquency-rates http://new.microbilt.com/news/article/first-party-fraud-what-it-is-and-how-to-guard-against-it Over the past 20 years or so, first-party fraud has intensified in scale and scope. Wed, 10 Jan 2024 16:14:53 GMT Alternative Financial Services http://new.microbilt.com/news/article/first-party-fraud-what-it-is-and-how-to-guard-against-it http://new.microbilt.com/news/article/new-technological-resources-for-debt-collectors Debt collection tactics are becoming more high tech - some even have the ability to remotely repossess items bought on credit. These resources help professionals contact debtors and better communicate with them to get back the money owed. The Wed, 10 Jan 2024 16:13:09 GMT Debt Collections http://new.microbilt.com/news/article/new-technological-resources-for-debt-collectors http://new.microbilt.com/news/article/developing-a-loss-prevention-strategy-that-works Loss prevention, also known as asset protection or shrinkage, refers to a set of strategies put in place by businesses and organizations to minimize various forms of loss. These losses can occur due to theft, fraud, accidents, errors, or other unforeseen events and can significantly impact a company's financial health, reputation, and overall operations. Keep reading.... Fri, 15 Dec 2023 18:08:53 GMT Business Valuation http://new.microbilt.com/news/article/developing-a-loss-prevention-strategy-that-works http://new.microbilt.com/news/article/mobile-ach-payment-options-require-security Continue reading and learn more about the risks associated with mobile ACH payments, what key regulations are currently in place to safeguard financial data. Sat, 11 Nov 2023 12:35:45 GMT Electronic Payment Risk http://new.microbilt.com/news/article/mobile-ach-payment-options-require-security http://new.microbilt.com/news/article/business-valuation-tools-and-techniques Business valuation is an important process for small and large companies alike, offering owners and prospective buyers an objective method by which to appraise the worth of a business entity. Sat, 11 Nov 2023 12:28:53 GMT Business Valuation http://new.microbilt.com/news/article/business-valuation-tools-and-techniques http://new.microbilt.com/news/article/unveiling-the-most-common-corporate-fraud-schemes Corporate fraud has always been prevalent in the business world, but in the past decade, fraudulent activity has emerged as a leading threat that can wreak havoc on companies' financial stability, reputation, and overall operations. According to a New York Times article, this form of fraud cost companies $831 billion in 2021 alone. And the rate for these crimes continues to rise. Sat, 11 Nov 2023 12:25:17 GMT Background Screening http://new.microbilt.com/news/article/unveiling-the-most-common-corporate-fraud-schemes http://new.microbilt.com/news/article/third-party-collection-agency In the intricate world of debt management, businesses often find themselves at a crossroads when it comes to collecting unpaid debts. Deciding whether to engage third-party debt collection agencies or handle collections in-house is pivotal, packed with implications for financial health and customer relationships. Discover more... Tue, 24 Oct 2023 15:19:54 GMT Debt Collections http://new.microbilt.com/news/article/third-party-collection-agency http://new.microbilt.com/news/article/debt-collection-tips-and-tricks Debt collection isn't usually enjoyable, but it's a necessary part of any lending institution. Leaving too much outstanding debt out at one time can lead to financial instability and, in the worst case, insolvency. We saw this recently with the 2023 bank failures nationwide, leading to a mini-financial crisis. Keep reading... Thu, 14 Sep 2023 17:15:40 GMT Debt Collections http://new.microbilt.com/news/article/debt-collection-tips-and-tricks http://new.microbilt.com/news/article/alternative-lending-continues-to-grow 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. Thu, 14 Sep 2023 16:04:16 GMT Alternative Consumer Credit Data http://new.microbilt.com/news/article/alternative-lending-continues-to-grow http://new.microbilt.com/news/article/what-is-license-plate-search If 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. Wed, 13 Sep 2023 19:13:37 GMT Banking and Finance http://new.microbilt.com/news/article/what-is-license-plate-search http://new.microbilt.com/news/article/advantages-of-alternative-credit-scores There 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. Wed, 13 Sep 2023 17:08:40 GMT Alternative Consumer Credit Data http://new.microbilt.com/news/article/advantages-of-alternative-credit-scores http://new.microbilt.com/news/article/unbanked-vs-underbanked-who-they-are-and-how-they-differ With 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? Wed, 13 Sep 2023 16:03:25 GMT Credit Risk Management http://new.microbilt.com/news/article/unbanked-vs-underbanked-who-they-are-and-how-they-differ http://new.microbilt.com/news/article/top-identity-verification-methods Identity 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. Wed, 13 Sep 2023 15:51:21 GMT Identity Verification and Authentication http://new.microbilt.com/news/article/top-identity-verification-methods http://new.microbilt.com/news/article/what-is-bank-verification-how-to-choose-method-for-a-lending-business More lending businesses are using ACH payments as a payment method, but they need bank verification to mitigate potential risks. Keep reading to learn more. Thu, 29 Jun 2023 16:33:18 GMT Banking and Finance http://new.microbilt.com/news/article/what-is-bank-verification-how-to-choose-method-for-a-lending-business http://new.microbilt.com/news/article/financial-data-management-what-it-is An enterprise needs to consolidate its financial information. Here is what you need to know about financial data management. Thu, 09 Feb 2023 16:32:04 GMT General http://new.microbilt.com/news/article/financial-data-management-what-it-is http://new.microbilt.com/news/article/risk-management-process The idea of risk management seems like a given for any business. Simply knowing what a risk management process is isn’t enough. But learning the five steps will show you just how much time, effort, and even better, the money you can save. Thu, 09 Feb 2023 16:28:45 GMT Credit Risk Management http://new.microbilt.com/news/article/risk-management-process http://new.microbilt.com/news/article/microbilt-appoints-joseph-fitzpatrick-as-president-and-chief-revenue-officer Alternative credit data pioneer MicroBilt today announced that Joseph Fitzpatrick has joined MicroBilt in the role of President and Chief Revenue Officer (CRO). Joe will work directly under the leadership of Walt Wojciechowski, Chief Executive Officer. Tue, 19 Jul 2022 16:03:52 GMT Uncategorized http://new.microbilt.com/news/article/microbilt-appoints-joseph-fitzpatrick-as-president-and-chief-revenue-officer http://new.microbilt.com/news/article/why-do-landlords-need-identity-verification-for-potential-renters- Of the 122.8 million households in America, roughly 36% of those are renters. As a landlord, you hope you get good honest renters who follow their lease agreement and pay their rent on time. Yet, as a landlord, you probably also know there are some less than honest renters out there. Wed, 03 Nov 2021 19:55:24 GMT Background Checks and Tenant Screening http://new.microbilt.com/news/article/why-do-landlords-need-identity-verification-for-potential-renters- http://new.microbilt.com/news/article/why-identity-verification-is-so-important-for-digital-care-of-finances We all love the convenience of making purchases, opening accounts, and applying for jobs from our computers or smartphones. But at the same time, it makes identity verification that much more important for business owners. Whether you're a financial institution, a private lender, you can't be too careful when it comes to verifying the identity of your customers. Wed, 20 Oct 2021 16:37:06 GMT Background Checks and Tenant Screening http://new.microbilt.com/news/article/why-identity-verification-is-so-important-for-digital-care-of-finances http://new.microbilt.com/news/article/what-is-background-screening-and-who-can-use-it- We’ve all heard of background screening. This is a way for certain individuals to gain insight into somebody else’s documented history. Interestingly, though, not everybody fully understands exactly what this process involves or who is able to utilize it. Let’s explore what you should know. Tue, 12 Oct 2021 19:13:26 GMT Background Checks and Tenant Screening http://new.microbilt.com/news/article/what-is-background-screening-and-who-can-use-it- http://new.microbilt.com/news/article/the-vital-importance-of-asset-assessment-for-debt-recovery If you're trying to recover debt from someone, your first step is an accurate asset assessment. You need to know exactly what they own, how much money they have coming in, as well as any other outstanding debts. What are the secrets to effective debt collection? Keep reading to learn about the best debt recovery tools on the market today. Tue, 21 Sep 2021 17:29:59 GMT Collections and Skip Tracing http://new.microbilt.com/news/article/the-vital-importance-of-asset-assessment-for-debt-recovery