MicroBilt Corporation is a credit reporting company and alternative credit data provider. Since its founding in 1978, it has grown by acquisition to challenge its larger rivals. Its PRBC consumer credit subsidiary offers consumers the ability to self-report on the bill paying habits as a means of positively impacting their credit score. MicroBilt’s other subsidiaries focus on business credit and services to sub-prime lenders. Many of the company's products are designed to help businesses accurately assess risk on consumers who otherwise have thin traditional credit files. In doing so, credit can be extended to consumers where it couldn't before opening a new customer base to a company and new opportunities to a consumer.

Products

MicroBilt offers a wide range of data products and services across the lending cycle from originations and underwriting through collections and debt recovery. Their products are available as APIs and through custom web portals. Among the company’s best-known products are:
PRBC Consumer Report & Credit Builder
– A consumer lending platform that leverages alternative credit data and allows consumers to contribute their own bill paying information to help improve their score.
iPredict Advantage
– An automated decisioning platform that leverages traditional and alternative credit data to assess consumer risk during lending assessments.
Risk Verification Database
(‘rVd’) – A prescreening product used to verify consumer identity and banking information in advance of lending and other business transactions.
Instant Bank Verification
(‘IBV’) – A real-time consumer financial data aggregator used to assess a consumer’s ability to repay a loan.
Bank Account Verify Advantage
(‘BAV’) – Helps lenders reduce underwriting risk by leveraging a consumer’s reported banking and loan history together to more precisely identify qualified borrowers and better predict loan payment default and was developed through current customers interviews and competitor products.
ComplyTraq
– A platform used to verify a company’s compliance with federal and state lending regulations including FCRA compliance as well as the proper management and handling of consumer credit information.

Acquisitions

Bloomberg's Company overview of MicroBilt, based on data independently collected by

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, lists the following acquisitions and incorporations: * 2002 – MergTech assets * 2004 – incorporated MicroBilt Merchant Services and MicroBilt Financial Services * 2005 – Profit Systems Software, Credit Data Systems Inc, Eclectic Data Systems Inc. * 2005 – incorporated ComplyTraq LLC incorporated * 2008 – acquired PRBC * 2010 – incorporated MicroBilt UK Ltd * 2010 – acquired CL Verify ("CLV"), formerly DP Bureau, a leading supplier of credit-related information to short term lenders

MicroBilt Merchant Services

The

merchant services Merchant services is a broad category of financial services intended for use by businesses. In its most specific use, it usually refers to merchant processing services that enables a business to accept a transaction payment through a secure (encr ...

provided by MicroBilt Merchant Services are accredited by

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. This subsidiary also supports

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MicroBilt Financial Services

Incorporated in 2004, MicroBilt Financial Services acquired several companies in 1994, 1995 and 1996, and used the name MicroBilt Financial Services Division on an interim basis. Some of their software products were internally developed and others were purchased.

Connect

Incorporated in 2002 as Pay Rent, Build Credit, PRBC's

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is letting individuals detail their credit worthiness using verifiable data that is not used by the other major credit reporting agencies. Initial success factors included that individuals could self-register, and recognition by

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in 2012. To the public at large, PRBC is MicroBilt's most visible offering. A year after the 2008 acquisition, some attention was attained with their “''Personal info we’ve got to protect, because you know we don't want identify theft''”

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. In 2020, the business unit was renamed Connect.

CL Verify

CL Verify, which provides identity verification and payday loan history reporting, was acquired in 2010 from DP Bureau They compete with Teletrack, which is known for its consumer credit database used by sub-prime lenders and

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. Somewhat prior to this acquisition, CL Verify had launched a Skip tracing service.

Books using MicroBilt data

Several recent books have used data from MicroBilt for research.
Understanding Business Valuation: A Practical Guide to Valuing Small ...

How to Sell a Business for the Most Money, Third Edition

Valuing Professional Practices and Licenses – Pages 7–57

Corporate Performance

As a holding company, MicroBilt Corporation began to attract significant earnings coverage by 1987. The NY Times, in reporting on the limited use of on-time rental-payments by other major Credit Reporting Agencies, mentions that "MicroBilt... provides services including alternative credit reporting" and how "MicroBilt's data is used to generate FICO Expansion Scores, which are used for consumers who don't qualify for a traditional FICO score."

Sponsorship

MicroBilt began sponsoring a sports team in 2014.

References

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External links

Official WebsiteCredit Repair ServicesHow To Improve Credit Score
Credit scoring Merchant_services American companies established in 1978 Financial services companies established in 1978 Financial services companies of the United States