Kroll Factual Data, a leading provider of business information solutions to financial organizations, announced today the addition of Third Party Verification (TPV) as an expanded service.
Third Party Verification addresses the growing need of lenders, servicers, and financial institutions to obtain an unbiased verification of information.
Kroll Factual Data provides powerful solutions enabling clients to make qualified and confident business decisions that transfer risk, enhance safety and soundness, and increase profitability. As a third-party service provider that is financially uninterested in the transaction process, Kroll Factual Data provides unbiased, manually verified, information. Third Party Verification improves the quality of loans processed and increases the safety and soundness of the transaction in a cost effective manner.
"As the needs of the industry are changing, Kroll Factual Data continues to deliver solutions that help our clients add to the bottom line," said James Donnan, president of Kroll Factual Data. "By utilizing our Third Party Verification services, clients are able to implement a variable cost solution raising efficiency and increasing profitability."
Kroll Factual Data performs verifications of information including identity, employment, assets, tax information, and any outstanding liabilities. Since the work and accuracy of verifications performed become the responsibility of Kroll Factual Data, Third Party Verification gives clients the ability to transfer risk, while producing quality loans faster.