Streamline the lending process with a digital verification service for borrower assets.
For over a decade, AccountChek has been providing lenders with secure data verification services for borrower assets.
What is AccountChek®?
AccountChek is a digital verification service for assets that offers insights into a consumer's financial profile and is accessible to customers through various channels.
The technology behind AccountChek bundles each borrower's financial and employment data, converting it into an underwriter-friendly format before delivering it to lenders' origination staff. Borrowers can directly access the AccountChek platform to provide bank data and payroll information.
Eight reasons to incorporate AccountChek into your lender approval process:
1) Accuracy: AccountChek utilizes direct-source data from loan applicants' bank and payroll accounts to verify information. This ensures up-to-date information, reducing the risk of fraud or errors.
2) Unsurpassed Acceptance: AccountChek seamlessly integrates with over 100 LOS/POS/AUS systems, including Fannie Mae's Desktop Underwriter/Originator and Freddie Mac's Loan Advisor. It also works with dozens of point-of-sale solutions, data providers and reseller platforms.
3) Added Flexibility: Borrowers increasingly choose to manage their financial and career data during major transactions. AccountChek allows borrowers to provide their verification data directly to lenders online or through a mobile web experience, enhancing borrower/lender relationships.
4) Breakneck Speed: Traditional employment verification methods, such as contacting HR departments, can take days or weeks. AccountChek can complete verifications within minutes.
5) Opportunities for Expansion: AccountChek supports lenders and borrowers by providing checking, savings and investment account data for non-traditional credit assessments. Millions of potential borrowers are "credit-invisible" and require a comprehensive approach to determining accurate creditworthiness.
6) Smart Security: AccountChek's built-in security features offer better protection for borrowers' financial and employment data than email, text or fax. In addition to bank-level encryption, each part of the system undergoes rigorous security testing.
7) 24/7 Convenience: AccountChek's platform is accessible online or via mobile devices 24 hours a day. Its user-friendly guidance creates a welcoming environment for employers, borrowers and third-party verifiers. With support from over 16,000 banks, credit unions, and payroll providers, fast data delivery is guaranteed.
8) Essential Compliance: Third-party verification services like AccountChek help ensure compliance with critical regulations and standards, such as the Fair Credit Reporting Act (FCRA) and Equal Employment Opportunity (EEO) laws.
In conclusion, AccountChek's acquisition by Informative Research has further solidified its position as a leading digital verification solution in the lending industry.