Retail Banking and Credit Union Solutions for Consumer Finance
Products and Services
Bank Account Validation
Checking data is designed to provide feedback regarding the validity of the data submitted, and the existence of multiple accounts for the same consumer or multiple consumers using the same account.
Prevent check fraud and reduce losses by identifying red flags that may require further verification. We validate submitted checking data, and earmark multiple accounts for a single individual or multiple individuals who use the same account. We even alert you if a submitted Social Security Number (SSN) has previously been associated with an input routing and account number combination.
Routing and Account Number Validation
CoreLogic® Teletrack® validates the routing transit number (RTN) and indicates account restrictions. While the system does not report the status of funds in the account, we confirm that the account number follows the financial institution’s format, and includes the following:
- Name and phone number of the financial institution
- The Automated Clearing House (ACH) conditions for the financial institution, including the ability to receive ACH credits and/or debits
- The RTN status that indicates if the routing number is active or retired
Account Number and SSN Association
Uncover potentially fraudulent behavior by examining an applicant's past relationship with the routing and account number combination, as well as the relationship of this data with other applicants. Consider the following:
- Has the routing and account number combination previously been reported with the submitted SSN?
- Has the applicant’s SSN been associated with other routing and account number combinations?
- Have other SSNs have been submitted with the data entered?
The existence of these relationships does not necessarily imply fraudulent behavior, but excessive accounts for a consumer, or multiple consumers with the same account, may require additional investigation.
Fraud and Identity Verification
Obtain indicators of fraud related to non-traditional lending by validating Social Security information, access credit variables and reviewing fraud variables developed for sub-prime lenders.
CoreLogic Teletrack offers several ways to reduce the likelihood of fraud when you make a payday or installment loan.
Perform application fraud checks quickly and easily using our Social Security Number (SSN) validation and identity verification services. Immediately know if an applicant is attempting to use a fraudulent SSN on an application by providing you information, including:
- Numbers that belong to a person who has been reported deceased
- Consumer identity matching and inconsistencies that may indicate potential fraud
- Matching information between the name, SSN, address, date-of-birth and phone number, using the Teletrack charge-off, inquiry and open loan data reported from thousands of businesses nationwide
Quickly understand and analyze the most important factors in an applicant’s credit history—more efficiently than ever before. For new Teletrack customers, credit variables help reduce time-to-market as well as the time and expense associated with using your own analytics tools. Existing customers can leverage these features by upgrading to this more sophisticated decisioning process.
Access more than 100 variables sorted by industry, time frame and other factors that are critical to predicting credit performance. Simply specify the number and type of variables among those listed below that best meet your needs:
- Open Loans
- Open Charge-offs
- Paid Charge-offs
- Court Records
- Social Security Number
Authentication Variables help lenders critically examine credit applications to uncover potentially fraudulent leads. By cross-referencing the demographic information listed against the unique CoreLogic Teletrack alternative credit database, this comprehensive identification verification tool makes it easy to spot inconsistencies over time.
You will know within seconds if the information entered on a credit request has ever been associated with identification information used by other consumers. An easy-to-read timeline highlights any suspicious activity within the last minute, and as far back as the previous year.
CoreLogic Teletrack works with ID Analytics to deliver a suite of solutions that allows you to easily authenticate an applicant's identity and detect potentially fraudulent activity.;Using their ID Network®, a real-time, cross-industry compilation of identity information with over 2 billion U.S. consumer transactions, these products offer a comprehensive, real-time view of consumer behavior; allowing an up-to-the-minute perspective on the risk of an identity or event in the marketplace. Learn more.
Non-Traditional Credit Reports & Scores
Access our Credit Report and Scores, which contain unique credit performance information gathered from businesses that do not typically report prior payment activity to traditional credit reference agencies.
Access unique credit performance information gathered from businesses that do not typically report prior payment activity to traditional credit reference agencies. Our Nontraditional Credit Report includes:
- Credit score (if applicable)
- Social Security Number (SSN) validation
- Previous inquiries
- Open and paid loan performance
- Open and paid charge-offs
LendOptix™ Credit Scores
Whether you operate in a “bricks and mortar” or online environment, assessing the credit risk of short-term, alternative credit applicants has never been more important. Teletrack simplifies the lending decision-making process by delivering a score based on objective assessments of payment default risk—all tailored to your unique applicant pool.
When you submit an inquiry, Teletrack goes to work:
- Evaluates the type of applicant before applying specific predictive variables
- Unites proprietary credit performance data from CoreLogic Teletrack—the industry’s largest single source of alternative credit performance data—along with traditional credit performance data and identity information
- Leverages extensive data sets to identify and weigh the most predictive, relevant variables based on the type of applicant
- Employs a three-digit score and reason codes, which are returned along with our Nontraditional Credit Report and summary attributes