MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 1 week ago

New blog articles detected

  • How Could Trump's Regulatory Reform Impact Consumer Lending? Part Two

    In Part One of this series, we discussed a few executive orders the Trump administration issued over the past few months. Each of these orders detailed how executive branch plans to reform federal regulations.Now, we'll attempt to determine how those executive orders will impact consumer lending. Analyzing Impact on Economic Growth The executive orders we cited in our previous article didn't call ...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 2 weeks ago

New blog articles detected

  • How Could Trump's Regulatory Reform Impact Consumer Lending? Part One

    On February 24, President Trump signed an executive order detailing how the executive branch intends to enforce his regulatory reform agenda, giving consumers lenders a better idea of what to expect in the near future. In Part One of this series, we'll discuss what the president's regulatory reform agenda consists of and how the Trump administration plans to implement those changes. In Part Two, w...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 4 weeks ago

New blog articles detected

  • 3 ways artificial intelligence will impact consumer lending

    The average consumer produces quite a bit of information today.Every time someone pays a credit card or utility bill, some kind of system records that transaction for later reference. Add rent payments, outstanding loans other financial information in the mix, and you get a pretty detailed picture of that individual's financial situation. Still, most loan officers don't have the time to conduct de...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • 3 ways to optimize your commercial lending department

    What's the quickest way to assess a business credit applicant's creditworthiness? How can you ensure validity of the information you have at your disposal? How can you reduce the time associated with the loan approval process?All of the questions revolve around optimizing your commercial lending operations. Here are three ways you can achieve this goal. 1. Automatically copy documents to a complia...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • The value of delivering education through consumer lending services

    Loan officers and other personnel on the front lines of your consumer lending services often engage individuals who are new to the whole process. There's always going to be those first-time homebuyers or young adults who are trying to finance their first cars. In light of the fact that your lending department interacts with inexperienced consumers from time to time, it's worth assessing the value ...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • Answering the CIO's questions about alternative credit data

    Fintech companies from Avant to FinMkt are challenging conventional lending practices. Both millennial and immigrants, two groups which are defining America's demographic composition, have no trouble finding alternatives to lenders that exclusively rely on traditional credit data to provide loans. In response to this competition, some financial institutions (FIs) are reviewing the merits of integr...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • Why APIs are essential to your consumer lending operations

    The software that supports your consumer lending business can't provide all the information loan officers require to make decisions.For example, an application that contains borrower profiles may provide credit decisioning data, but rely on Fannie Mae's Desktop Underwriter system to calculate risk. In this case, an application programming interface (API) allows DU to send risk assessments to your ...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • How could blockchain change consumer lending services?

    Succeeding in today's consumer lending industry entails building an infrastructure designed to support digital products and services. CMOs and CFOs must collaborate with their technically minded colleagues to determine how the latest technologies can enable new services.Blockchain could provide financial institutions with the resources they require to develop new, innovative services. At the same ...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 1 month ago

New blog articles detected

  • Do you have the right consumer reports to score credit invisibles?

    There are about 26 million credit invisible consumers throughout the U.S., according to a report from the Consumer Financial Protection Bureau. While these individuals represent an untapped market, engaging them in the lending process is difficult because loan officers, underwriters and others have no traditional credit data to reference in the approval process. The absence of credit data doesn't ...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 2 months ago

New blog articles detected

  • How to manage financial risk when engaging credit invisibles

    Americans with thin-file and no-file credit reports represent a huge business opportunity for lenders. According to the Consumer Financial Protection Bureau, approximately 26 million people in the U.S. are "credit invisible," meaning they don't have reports with any of the big three credit bureaus. While this demographic is a source of potential revenue, lending to thin-file and no-file individual...

  • How alternative credit data can help enterprises achieve fair lending

    The 2008 recession put financial institutions under the microscope. Consumers are quick to judge FIs for both real and perceived transgressions, and organizations such as the Consumer Financial Protection Bureau aren't afraid to pursue companies accused of violating fair lending laws. While fair lending legislation has good intentions, it introduces risks to businesses that provide forms of credit...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 3 months ago

New blog articles detected

  • 3 reasons why you shouldn't rely on traditional credit data alone

    Loan officers require comprehensive financial information when assessing consumers' ability to pay back loans. However, they rarely collect all the data necessary to build a solid understanding of whether a person is creditworthy.Traditional credit reports can only tell lenders so much about a person's overall financial situation. An Equifax report may show a customer was late on a few credit card...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 3 months ago

New blog articles detected

  • Is it time for GSEs to use a different credit scoring model?

    Fannie Mae and Freddie Mac have been using credit scoring models from Equifax, TransUnion and Experian when assessing mortgages for some time. However, those models, all of which are based on the FICO score, prevent approximately 45 million Americans from participating in the housing market, if one considers the number of unscorable and credit-invisible individuals living in the U.S, according to ...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 3 months ago

New blog articles detected

  • How does alternative credit data fit into Fintech 2.0?

    Peer-to-peer lending, automated investing and new forms of retail banking defined Fintech 1.0. The movement expanded consumer choice, but it did not dismantle and rebuild the financial services industry. However, that's just what Fintech 2.0 may do.According to Santander InnoVentures, Fintech 2.0 promises to reshape the infrastructure on which financial services operate by extending data usage and...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 3 months ago

New blog articles detected

  • 3 financial benchmarking tactics hospitals should use in 2017

    Between federal regulations and high administrative costs, hospitals are operating on tight margins. Some even in the red. For example, according to the Pennsylvania Health Care Cost Containment Council, the state's 171 general acute care facilities delivered $1.06 billion in uncompensated care during the 2014 fiscal year. A separate study from iVantage Health Analytics found 673 U.S. hospitals lo...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 4 months ago

New blog articles detected

  • Alternative credit data helps lenders expand small business portfolios

    Acquiring access to credit remains a persistent challenge among financially responsible small business owners. According to a report from BI Intelligence, lenders walked away from approximately $96.5 billion worth of loans in the fourth quarter of 2015.Banks are often wary of lending to small businesses because such firms typically have sparse financial histories. Finding enough traditional credit...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 4 months ago

New blog articles detected

  • 3 characteristics of strong alternative credit data partners

    Robust credit risk management operations draw from comprehensive, accurate data to distinguish good from poor risk. Information provides transparency, enabling lenders to expand their businesses, establish targeted risk-based pricing and expedite customer services without compromising on data standards. Alternative credit data, in conjunction with traditional consumer credit information, expands t...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 5 months ago

New blog articles detected

  • Alternative credit data: The key to understanding the credit invisible

    The credit invisible are any individuals without data filed in nationwide credit reporting agencies. They may be immigrants whose foreign credit scores don't apply in the U.S., millennials wary of traditional credit products, or individuals who simply have difficulty accessing credit."22.3% of homeowners with serious utility and telecom delinquencies had mortgage delinquencies."In 2015, the Consum...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 5 months ago

New blog articles detected

  • How to protect your business from ACH fraud

    Given that the Automated Clearing House processes approximately $40 trillion in electronic payments and money transfers per year, according to the National Automated Clearing House Association, it's not surprising hackers continue to target the network. Using dedicated ACH payment computers, verifying customer bank accounts and other tactics enable businesses to prevent hackers from successfully ...

  • ACHECK21® Announces strategic partnership with MicroBilt for Bank Verification

    ACHeck21 now offers advanced data-driven verification capabilities to combat fraud, mitigate risk and reduce costly returns ACHeck21® is pleased to announce the integration of MicroBilt’s Risk Verification Database Plus (rVd+) to its secure, cloud-based transaction processing solutions. With this integration, ACHeck21® customers gain access to powerful new verification capabilities to mitigate ri...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 5 months ago

New blog articles detected

  • How to protect your business against EMV card fraud

    EMV cards are a step up from magnetic stripe cards. While the latter store static information that hackers could steal through skimming techniques, the former contains dynamic data that's difficult to duplicate.Despite the advantages associated with EMV cards, they're not completely devoid of security flaws. Every technology, no matter how advanced or contemporary, has its vulnerabilities, and the...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 5 months ago

New blog articles detected

  • Beware of the rush of alternative credit solutions

    Between millennials shunning traditional financing models and the number of underbanked individuals in the United States, it's clear to see why lenders are turning toward alternative credit data. "Collecting data from third-party providers introduces data quality risks."In response to the shift away from traditional credit, financial technology startups and credit bureaus are rolling out alternati...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 5 months ago

New blog articles detected

  • How alternative credit data can help you reach millennial customers

    For lenders, millennials present both an opportunity and challenge. The opportunity lies in the generation's growing buying power. The challenge involves identifying Generation Y​-ers who are financially responsible. How do you assess a person's creditworthiness if they have a thin-file credit report or no credit report at all? To establish relationships with millennials, businesses will have to t...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 6 months ago

New blog articles detected

  • How to protect your business form ACH fraud

    Given that the Automated Clearing House processes approximately $40 trillion in electronic payments and money transfers per year, according to the National Automated Clearing House Association, it's not surprising hackers continue to target the network.Using dedicated ACH payment computers, verifying customer bank accounts and other tactics enable businesses to prevent hackers from successfully e...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 6 months ago

New blog articles detected

  • Here are the 3 most common corporate fraud schemes

    Despite intense scrutiny from regulators, corporate fraud continues to challenge businesses across the globe. According to the Association of Certified Fraud Examiners' 2016 Global Fraud Study, such financial crime causes average revenue losses of 5 percent annually among organizations. What types of financial fraud are the most common? In order to develop effective fraud detection and prevention ...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 6 months ago

New blog articles detected

  • How lenders can prepare for PCI DSS 3.2

    Enterprises that handle consumer credit and payment data in any manner must reassess their security capabilities if they wish to comply with the Payment Card Industry Data Security Standard Version 3.2. "A big focus in v3.2 is multi-factor authentication."The PCI Security Standards Council published the standard in April, in lieu of 3.1's expiration at the end of October. Lenders that reference co...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 6 months ago

New blog articles detected

  • How alternative credit data can help your adhere to KYC and due diligence laws

    The Treasury, Financial Crime Enforcement Networks (FinCEN) and other regulatory bodies have implemented laws compelling financial institutions to enhance their know your customer efforts.Conducting more comprehensive account audits and assessments can prove a challenge without the appropriate resources. As regulations intensify, general counsels and accountants may turn to alternative credit data...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 6 months ago

New blog articles detected

  • ACHECK21® Announces strategic partnership with MicroBilt for Bank Verification

    ACHeck21 now offers advanced data-driven verification capabilities to combat fraud, mitigate risk and reduce costly returns ACHeck21® is pleased to announce the integration of MicroBilt’s Risk Verification Database Plus (rVd+) to its secure, cloud-based transaction processing solutions. With this integration, ACHeck21® customers gain access to powerful new verification capabilities to mitigate ri...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 6 months ago

New blog articles detected

  • Secured Lending

    While a sturdy job market is giving a sense of security and optimism to American employees, it is not the sole reason for the increase in borrowing. The stagnation in wages; fall in gas prices and the considerable increase in home equity loans, all are contributing factors to the rise in demand for loans. Secured personal loans, auto loans, home loans, loans for luxury items like furniture or boa...

MicroBilt Corporation

Category: Content
Type: Blog Article

Generated 7 months ago

New blog articles detected

  • Can audience segmentation enhance your credit risk management efforts?

    Professionals often regard audience segmentation as a resource for marketers alone, but credit risk management experts often find value in distinguishing customers' behaviors and values.If analysts identify audiences that are more likely to present poor risk, they can inform salespeople, loan officers and other front-end personnel on which segments the business should target. Do marketers collect ...

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