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Introduction

Bank account verification can enhance security and ensure the Customer’s eligibility for the Loan. It helps prevent identity theft by confirming the ownership of the bank account verification and related part of the system functionalityand allows the Lender to assess the financial health of the Potential Customer through their banking history.

Should you decide on using the Bank Account Verification services, you need to integrate the system with a bank account verification service providers, such as Flinks and Plaid (these are the two mostly used by our clients so far). It is also important to understand that Back-Office user cannot see customer’s secured bank data, therefore, they only request for the verification, and then a corresponding request is set to the customer’s portal, from where they can run the verification in mere minutesset up the integration in the System. As a result of this integration, a link to the dedicated portal where the Customer can run the verification of their bank account(s) will be shared with the Customer. Following the verification, TurnKey Lender can also collect the corresponding Bank Account Verification Report (if it is prepared by your service provider).

The verification request can be automatically sent to the Customer before the Loan Application submission or prior to the Loan Disbursement. It can also be manually sent from the Back Office at any point of work with the Customer.

Enable the Integration and Select the Service Provider

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