More predictive. Better performance. Lower costs.

Bank Account Verify (BAV) Advantage is a new and innovative report that helps lenders reduce underwriting risk by leveraging a consumer’s reported banking and loan history together to more precisely identify qualified borrowers and better predict loan payment default.

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What does it do?

BAV Advantage utilizes two of MicroBilt’s most powerful proprietary databases consisting of over 150 million consumer records and 1.5 billion ACH and check transactions. BAV Advantage also issues a highly-predictive score based on the same 350-800 scale used in traditional credit scoring. Unlike a traditional credit report, BAV Advantage uses the consumer’s submitted bank routing and account number to deliver a cross-institutional view of banking behavior and past loan performance.

Additionally, BAV Advantage report returns:

  • A 36 month summary of MICR and Loan transactions, returns and defaults
  • Current status of the submitted bank routing and account numbers
  • First and last seen dates of the account
  • Confirmation of the ability to receive ACH transactions
  • Assessments of other bank accounts associated with the applicant
  • Flags of high-risk factors related to the financial institutions (account closed, "account not found," etc.)
  • Analytics and trending on bank account and loan performance attributes
  • Verification indicators for Name, SSN, Driver’s License, and Phone Number matched between the application and bank account

What is it used for?

Lenders in the alternative financial market find BAV Advantage to be a highly valuable tool in reducing the risk of loan payment defaults related to:

  • Short term installment lending
  • Buy-here-pay here auto financing
  • Check cashing
  • Title lending
  • Retail financing

BAV Advantage is compelling as a standalone product, but when combined with identity verification, anti-money laundering tools and/or iPredict to deliver a full 360-degree view of the consumer’s loan and the bank performance history.

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