THE PROBLEM
Lenders must determine in real-time if a borrower has the ability to qualify or repay their loan. IBV [Instant Bank Verification platforms are valuable tools BUT wages, gig income, other credits, and debits reflected by IBV platforms are simply reporting old news! History…
Platforms like Plaid & Yodlee are too late to the game. By the time a debtor’s wages are reported to their bank account – often days or weeks later – the debtor’s been laid off, had their hours cut back, added an additional gig job, applied for and received a new loan from the competition… any number of life events have often changed their economic circumstances.
THE SOLUTION
IWVPro.com provides borrowers with an easy, streamlined loan experience; and lenders with access to EMPLOYER data to make informed loan decisions.
Our white-labeled platform [Your Brand, Your Logo, Your Name] is integrated with 22,000 EMPLOYERS! We literally have a data pipe feeding us earnings reports from Walmart, Target, Pizza Hut, Del Taco, Uber, Postmates, USPS, Lyft, UPS…
We are at the front of the line. We can “inform” a Lender in real-time how many hours and how much $ earnings their debtor or loan applicant or Corona-19 claimant has earned as of this morning, yesterday, this week, last week, last month…
REAL-TIME WAGES EARNED
- We enable Lenders to understand their client’s income & work status; even those who have multiple income sources
- Automatically update bank and debit card info on file with their employer
- Lenders use us to auto-populate Lender applications and profiles
- Lenders can “see” their client’s available funds, earning patterns and previous jobs.
HOW WE WORK
We are embedded within your Loan Application, website, APP, API… Your client simply selects their employer(s) name from our pre-populated list and we will prepopulate your loan application, provide all income & wages earned.
WE REMOVE THE IBV FRICTION
How many times have your clients abandoned your loan application when attempting to remember their bank credentials? 1000’s? More? How much does it cost you to acquire that customer? What is your CAC? How much are you paying for a qualified lead? We eliminate that friction.
On those occasions when your applicant does succeed in logging into their bank account(s), a Lender still must gather holistic “pictures” of their applicants. This process of collecting income information, account balances, and asset history creates considerable work for both the borrower and the Lender.
Getting borrowers to connect their bank accounts to receive capital and repay loans via IBV is HARD!
EMPLOYER VERIFIED WAGES IS THE KILLER APP
Getting borrowers to enable you to connect with their employers is EZ! After all, they typically login to view their income and wages due several times every day! And best of all, your debtor/applicant never leaves your platform!
USE BOTH IWVPro.com & IBV
We’re not advocating you discontinue using IBV! In fact, we have formed an alliance with the best IBV platform in our industry today. {Happy to introduce them to you even if you choose not to use IWVPro.com!] We simply place YOU the LENDER in FRONT of the BANK regarding your borrower’s wages earned and income due!
IBV is very good for determining whether debtors have the funds to make a payment or transfer, provides a real-time feed of information about a user’s financial obligations including existing payday loans, title loans, personal loans, student loans, credit cards, and more.
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