MicroBilt Introduces Instant Bank Verification (IBV) in Canada

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MicroBilt, a leader in data, risk management and business analytics, launches Instant Bank Verification (IBV) in Canada. IBV is a major accomplishment in underwriting, as it is the first tool to allow instant online account verification while delivering dozens of real time bank account details to the lender.

MicroBilt Corporation has activated its Instant Bank Verification (IBV) tool in Canada. An unprecedented development in alternative lending solutions, IBV has the potential to drastically improve the underwriting process for lenders in Canada.

IBV goes beyond account history to deliver real-time, up-to-the second account facts. In addition to instantly verifying the account, IBV retrieves dozens of essential account attributes: direct deposit info, NSF status, current and available balances, 90 days of transactional data and more. Lenders can also access IBV’s BalanceChek feature, which reveals the account balance during collections. This allows lenders to avoid failed ACH withdrawal attempts during collection.

“Faster verification through IBV isn’t just good for the lender,” says MicroBilt Senior Vice President Sean Albert. “It leads to greater customer satisfaction and a lower dropout rate. Today’s consumers are accustomed to filling out online forms, and studies have shown that they prefer the quickness and convenience of online verification.”

For more information, lenders should visit http://www.MicroBilt.com/IBV, or contact Sean Albert at 1-800-884-4747 ext. 4884, or Sean_Albert(at)microbilt(dot)com.

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