Quick Look at Alternative Data Attributes.

What does it do?

This advanced identity verification solution for lenders offers a refined "first look" at application data, enabling financial institutions and lenders to confirm consumer identity with precision and efficiency. Designed to streamline the lead verification process, this solution is an integral part of MicroBilt’s product suite, providing a cost-effective alternative to reduce overall underwriting and customer acquisition costs.

By utilizing sophisticated technology, the solution analyzes over 60+ data points to provide rapid, reliable insights into application attributes. These insights help assess the validity of leads and deliver enhanced identity validation solutions for seamless risk assessment. This tool goes beyond traditional verification methods, offering a comprehensive evaluation that includes:

• Identity validation (SSN, DOB, driver’s license, email, address, phone number, IP address)
• Bank account validation
• Consumer identifier (OFAC, Watchlist, Military status)
• Employment indicators

With these attributes, companies gain actionable insights into the authenticity of application data, ensuring that only high-quality leads are prioritized.

What is it used for?

This solution empowers companies to improve lead quality while reducing operational and acquisition costs. By allowing lenders to quickly and accurately confirm consumer identity, it enables them to identify reliable applicants, reduce the risk of fraud, and streamline their onboarding processes. This solution is widely utilized across various industries, including:

• Consumer Lending: To enhance decision-making and mitigate risks associated with fraudulent applications.
• Financial Services: For precise identity validation solutions and effective lead prescreening.
• Other Industries: Any business that requires robust tools to verify and authenticate consumer data.

Key benefits include:

1. Enhanced Lead Quality: By filtering out high-risk or unverifiable leads, the solution helps businesses focus on the most promising applicants, improving conversion rates and reducing costs associated with poor-quality leads.
2. Operational Efficiency: Lenders can optimize their workflows by receiving actionable data upfront, allowing faster decision-making and reducing time spent on manual verifications.
3. Fraud Prevention: Comprehensive validation ensures that fraudulent activities and inaccuracies in application data are minimized, protecting the organization’s bottom line.

By offering an advanced identity verification solution for lenders, this tool not only reduces defaults but also improves margins, enabling companies to refine their business processes. Whether used as a standalone product or integrated into a broader financial suite, it provides the confidence and reliability lenders need to make informed decisions quickly.

This versatile solution is critical for modern businesses seeking to elevate their verification processes and achieve greater success in customer acquisition while safeguarding against fraud.