As a supplement to the iAuthenticate Bundled Reports, CL Verify offers iAuthenticate Extensions, optional reporting tools to further enhance a lender’s ability to assess a consumer’s payday advance application. New to the iAuthenticate family, the ABA Report and the Inquiry Velocity Report (IVR) provide lenders with increased access to detailed banking data and CL Verify inquiry traffic.
ABA Report
An applicant may submit different bank accounts on multiple applications in an effort to secure a payday advance. The CL Verify ABA Report generates the histories of activity on all bank accounts submitted for review by a lender. The report verifies the number of active bank accounts for that applicant, provides a list of risk factors associated with each account, and outlines trends that indicate which banks may generate higher risk consumers.
Inquiry Velocity Report (IVR)
The CL Verify Inquiry Velocity Report allows a lender determine how many parties are actively considering an applicant. With the IVR, lenders receive a detailed inventory of all payday advance inquiry traffic and applications events associated with the consumer during a given time period.
IVR provides data on inquiries made within:
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The past 24 hours |
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The past 7 days |
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The past 30 days |
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