Welcome to BankVOD

Your Secure Verification Hub™

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Here is how we can help:

  • Pioneered the industry's first Automated Data Exchange for Assets
  • Trusted Data Exchange Partner/Vendor for the Top US Banks
  • Eliminate Risk and Exposure to Fraud through a Single Interface
  • Secure "Best in Class" Platform: AICPA, FNMA & GLBA Compliant
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QC/Re-Verification

For Mortgage Quality Control Firms to validate accuracy of Retroactive Consumer Account information and detect fraud.

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Verification of Deposit

For Mortgage Brokers / Processors to obtain Current Consumer account balances as part of the loan qualification process.

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Assets Report

Digital Asset Verification in Seconds. Fast & Secure way to Automate Asset Verifications. Report provides detailed picture of a borrower's historical transactions for up to 24 months.

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Commercial Audit

For Commercial Account Audit as a means to validate banking information in support of an audit. Response includes: 'Account Type', 'Open Date', 'As of Date', 'Balance', 'APR'.

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IRS Tax Transcripts

Form 4506C used by mortgage lenders and others within the financial community to confirm the income of a borrower during the processing of a loan application.

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Verification of Occupancy and Identity

Allows Mortgage Brokers and Auditors to uncover Occupancy or Identity misrepresentation from Loan Application through Post Funding Reviews.

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Employment Verification

Requests for Verification Employment and Wage information on both current and prior employees.

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Business Inquiry (RMA)

For Business Inquiries (RMA) as a means to validate banking information in support of, current transaction or extension of credit.

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Liens & Judgments

Allows Mortgage Brokers and Auditors to uncover Liens & Judgments misrepresentation from Loan Application formally included on credit reports.


Loan Payoff

Obtain a current Payoff Figure from a loan account.

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Verification of Mortgage

(VOM) is documentation of a borrower's mortgage payment history, to verify the existing balance, monthly payments and to check for any late payments on the account.

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Commercial VOM

For Commercial Verification of Mortgages, as a means to validate a commercial verification of mortgage information.

Risk Management and Operational Controls

Account Holders

  • BankVOD is a "permission based" platform, users are validated and all accounts need to be activated/authenticated prior to submitting requests.
  • SSO, MFA, API and SFTP options are available to users.
  • Client Authorization to Release is require for all Verifications.
  • All user sessions are logged, creating a digital audit trail which tracks all transactions from requests to delivery.

System Features

  • All data is encrypted in transit and at rest with 256 encryption.
  • Monthly PEN Testing.
  • Weekly Vulnerability/PCI Scans.
  • Data Integrity is maintained end to end and presented as received, without human intervention or modification.
  • System Redundancy and Fail-Over featured exceeds industry RTO/RPO standards.



Independent Audits and Compliance

  • SOC1 Type2 examination semi-annually for a period of 12-months.
  • SOC2 Type2 examination annually for a period of 12-months.
  • Compliance and Risk Reviews are conducted throughout the year mapped to latest industry control standards.
  • All Audits are mapped to the framework/standards for the industries we serve.

About Us

Founded in 2004, BankVOD is a secure web-based electronic processing platform, designed to meet the strict standards for the industries we serve. We are a direct to source, data retrieval portal that eliminates slow legacy/paper intensive processes. All Data received from Participating Financial Institutions is transmitted "as is" to Requesting Parties, without interference or modification. BankVOD is a consent based, Verification Hub™ with secure Digital Processing Methodologies to reduce financial crime, achieve regulatory compliance, mitigate business risk and improve operational efficiency. BankVOD services provided to Financial Institutions, Government Entities and Commercial Verifiers include: Quality Control Audit/Re-Verification, Verification of Deposit, Asset Verification, Commercial Account Audit, IRS 4506-C Tax Transcript, Verification of Occupancy, Employment Income Verification, Business Commercial Inquiry (RMA), Liens & Judgement Verification, Loan Payoff, Verification of Mortgage, Commercial Verification of Mortgage, Verification of Deposit & Statement, and Merchant Check Verification. Our Banking Clients include the leading National and Regional Financial Institutions.

The system allows for Banks to electronically exchange asset related verifications, with the goal of achieving full process automation. Banking Clients conduct annual, evidenced based Vendor Risk Assessments to ensure compliance is mapped to ISO/AICPA industry control standards/framework.

Billing Solution's management team has over fifty years of experience in the industry. The team is composed of highly skilled professionals that worked with AT&T previously in a similar capacity. We are executive members of the Accredited Standards Committee X9 who provides worldwide standards for Financial Services. As Category A members, Billing Solutions belongs and participates in the X9-B5 subcommittee and working group, who is in the process of adoption and implementation of digital technology for the Verification and Confirmation requests. The purpose of the work group is to develop an electronic exchange standard for account information confirmations for authorized independent auditors (on behalf of their clients) as well as account verifications.

BankVOD is a product of Billing Solutions Inc an Illinois Corporation

Contact

Feel free to use our contact form below if you have any questions. We will contact you shortly.