Locate, verify and predict the performance of an individual’s bank accounts

What does it do?

A banking database containing billions of ABA and account number transactions reported from loan applications, retail purchases, financial institutions, and other ACH/check transactions. This database is considered to be one of the largest of its kind in the U.S., wih industry-leading search and match algorithms offer unparalleled access to this information for approved users. This data is refreshed daily to ensure currency.

Once a bank account is linked to an individual, the information though a stringent multi-layer verification process to verify the status of the account. Direct verification with the financial institution utilizing our call center verification team and automated verification options are used to confirm the bank account is legitimate and currently open.

With this report, you can:

• Locate accounts – bank name and address, routing and account numbers, bank verification status, and up to 2 first and last names associated with the account when available
• Verify accounts – SPOT uses the most extensive verification process available to confirm the account is open directly with the financial institution, while also making available extensive secondary verification processes only available from MicroBilt to deliver verified accounts even when the financial institution does not verify information without the account owner present

Each report returns

• Bank name and address
• Up to 4 verified ABA/account numbers per individual
• Verification status and date
• Up to 2 names last seen to be associated with the bank account

What is it used for?

Used by collections and recovery professionals to locate and identify banking information. It is important in establishing the overall likelihood and amount of a recovery.