Merchant Boost | Blog
Merchant Boost is the live data solution provider equipping financial service companies with solutions that fill the gap between historical, real-time and live data information, to improve marketing, underwriting, and collections. We are transforming fintech with innovative payment instrument data and solutions, increasing credit access to the financially underserved, and reducing processing fees for borrowers and creditors.
Consumer lending, underwriting, payments, processing, financial technology, payment instrument
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By Jesse Berger Is more data better, or is better data really, better? Whatever your philosophy, employment data is already, or should be in your mix of sources.  And know this, employment data is not just for verifying employment anymore, it has the potential to move the needle for you in several ways.  Employment data attributes are now optimizing multiple steps of a customer’s lifecycle and experience with your lending business. Incorporating employment data into your workflow can create a more efficient, seamless, and expedited process for the consumer. Here are seven tips to help you leverage employment data and improve your customer’s lifecycle:
By Adam DiVeroli  Not all bank verification solutions are the same, they might not even have the same function. If your business is using ACH transactions, odds are you are utilizing some sort of bank verification solution. Verification is a term thrown around casually to describe products that perform various functions, such as to confirm a bank account’s status, affirm balance, authenticate reputation, and to establish ownership. These generalizations focus on the result of verifying, rather than the process.
  By Adam DiVeroli  What if I told you that you are using bank aggregation inefficiently? As the technological landscape evolves and more data is readily available, having the access to data is not enough. You need to know your data, the technology that creates it, and how and when to use it to really harness the full power.

By Jesse Berger We had a great session presenting about artificial intelligence and machine learning at the OLA conference last week. It was a great group of people and a great organization discussing relevant topics. Here’s a snippet of our presentation on artificial intelligence and machine...

  By Adam DiVeroli & Tara Kumar What if you had an unparalleled, full-detail view of the consumer with visibility into their bank account, including expenses and transactions? Payment instrument data provides this powerful and indispensable access, integral for decisioning, underwriting, verification, and payment processes. 
By Noah Fitzgerald, CPP Lenders are missing significant opportunities: There are good borrowers that are declined and there are approved applicants that never originate. Considerable time and money is spent on finding and buying leads that are not converted. Declining good business results in lost revenue and loss of a good client. Approximately 5 – 15% of all approvals never convert to an origination and 30-60% of all applicants are declined. These problems exist due to the lack of data available on the borrower.

By Adam DiVeroli 1 in 5 adults in the United States cannot obtain credit due to the fact that they are unscorable or invisible in the eyes of the credit bureaus. The terms “thin” or “no file”, “credit invisible”, and “credit unscorable” have been used for...

Why Adding Visibility to Customer Repayments Matters Noah Fitzgerald, CPP Businesses that extend credit or terms to their customers take on an inherent risk. You provide a service, loan, product or goods without getting partial or complete payment at time of delivery with the expectation that the...

By Noah Fitzgerald, CPP and Jesse Berger, JD The Military Lending Act (MLA) was passed by Congress in 2006 to protect active duty U.S. service members and their families from excessive interest rates. There are currently about 4.5 million active and reserve military personnel and dependents,...

By Adam DiVeroli As a business, each expense counts, including credit card processing costs. Credit card processing is a necessity to businesses today, but it comes at a price, is very complex, and complicated to understand. Furthermore, for online businesses and companies with recurring customers the...