News

Seven Tips to Leverage Employment Verification Data

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:

Three Things They Don’t Tell You About Bank Verification

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.

Not Your Father’s Bank Aggregation Solution

  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.

Compliance Aspects for AI & ML: Part 2

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...

The Power of Payment Instrument Data

  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. 

Uplift: Converting More Leads to Loans

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.