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Instant Bank Verification (IBV) - US Consumer & Business
What is it:
Instant Bank Verification facilitates real time access to consumer and business bank account data at the financial institution via their online banking platform to deliver account transaction details, account owner information and other bank account insights in support of bank verification and decisioning.
What it does:
Upon receiving a request to verify the consumer/business banking information, IBV delivers a web link to the account owner to start the process.
After selecting the link, the account owner will be prompted to select their financial institution and login to their online account.
Multifactor authentication questions and/or secure code verifications may be presented to the account owner as part of the financial institutions standard security protocols before access to the banking information is available. However, IBV facilitates this process seamlessly to support these security requirements for each financial institution selected.
Upon authentication of the account owner, IBV will retrieve and format information into a user friendly report format containing important information including account balances, transaction history, account owner information, ID verification attributes, and more.
What it is used for:
Credit decisioning and bank account verification.
Documents
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Count: 3
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Instant Bank Verification
First Name | X | X |
Last Name | X | X |
SSN | X | X |
DOB | X | X |
Street Address | X | X |
City | X | X |
State | X | X |
Zip Code | X | X |
Primary Phone | X | X |
Email | X | X |
ABA Number | | X |
Account Number | | X |
Additional Information:Option 1: Amount of salary, When do you receive your wages, Acct Type, Account #, ABA Routing#
Option 2: Amount of salary, When do you receive your wages, Acct Type, Account #, ABA Routing#