Use Cases

USE CASES for Financial Institutions

Financial Institution Loan Pre-Approval & Application

Whether you are a crypto lender, traditional bank, or peer to peer lender, verification of crypto transactions and assets is vital to an accurate understanding of a customer’s financial standing. LedgerScore gives you instant and accurate visibility to a consumer’s financial status, income, and employment information before you work the deal. LedgerScore provides independent financial reports to banks about potential borrowers’ crypto payments, crypto income, crypto assets, and crypto identity.

With the recent pandemic, the world has seen a spike in at home and remote online jobs. Payment for many of these online jobs is through cryptocurrency. Now more than ever, the world needs a way to verify and score crypto transactions.

Small to Medium Enterprise (SME) Lending & Finance

LedgerScore’s instant verification of crypto assets, income, employment, and identification makes lending a breeze for both lenders and consumers. Apply with one of our lending partners and pre-qualify for a loan and then complete the application with pre-populated information into your application, including your KYC/AML and your LedgerScore credit score. Lenders can generate real-time approvals.

Financial Institution Predictive Modeling

Credit scoring data is one of the most typical applications for predictive modeling to predict whether credit extended to an applicant will likely result in profit or losses for the lending institution. LedgerScore’s technology can provide historical, real-time payment history, and real-time risk decisions.

Employment Credit Check

An employment credit verification is one of many universal background checks. Employers who check an applicant’s credit typically use a third-party company. LedgerScore is the only source to verify crypto income. Verification is on both ends of a transaction, employer, and employee. Many applicants have no way to verify the current statement of their income. LedgerScore lets you discern affordability early on and have instant and accurate visibility to a consumer’s financial standing, income, and employment information.

Digital Merchant Onboarding & Reusable KYC

Financial services companies are continually looking for ways to create a more efficient user-friendly onboarding experience. Strict compliance regulations and evolving fraud risks make balancing risk strategy a challenge. LedgerScore powers a world-class digital merchant onboarding experience. Our onboarding software empowers you to create real-time onboarding processes without sacrificing risk strategy. With LedgerScore, you can create fully automated onboarding processes that meet all compliance and KYC regulations.

Whether it is a straight-through process or more sophisticated methods to verify high-risk merchants, you will be able to make decisions in real-time. Financial service organizations using LedgerScore’s technology can deliver enhanced digital merchant onboarding experiences powered by an agile platform that supports fully automated onboarding, fraud and AML processes, KYC, and risk decisions.

LedgerScore’s customers (with a verified identity profile) will enjoy the benefits of reusable KYC/AML verification. Verify one time and reuse it as many times as you want within our partner network.

Peer To Peer Payment

P2P users can send and receive payments from people on other payment networks and in any currency by merely sharing their unique LedgerScore ID address. LedgerScore reduces discord in the payment experience across multiple payment platforms creating a broader, more connected network.

E-Commerce Payments

E-commerce customers can use any digital wallet to complete their purchases when the LedgerScore digital ID is offered as a payment method. The LedgerScore digital ID helps shoppers check out faster and enhances transaction security.

Invoice Payment

Businesses can use LedgerScore to send invoice requests directly to a customer’s LedgerScore ID. Payment transactions can be completed in just a few simple clicks. This is a streamlined experience for both customer and provider that works for any payment method and any wallet that supports LedgerScore.

Banking & Loan Organization Software

LedgerScore’s point-of-sale solution designed for the lending industry that helps automate and manage all procedures of loan origination. Intended for all business sizes, it provides a web-based portal to streamline communications among lenders, borrowers, and other stakeholders. Our features include loan document management, automated borrower/agent communications, a referral partner portal, collaboration, interview style forms, and milestone alerts from SMS, email, and mobile applications. This allows businesses to create customizable 1003 applications and simplify processes by managing creditors & borrowers eConsent through an online portal. Furthermore, it provides white-label solutions for users to customize iOS and Android mobile applications with brand value. LedgerScore integrates with third-party apps like Encompass, Calyx, Byte, LendingQB, DocuSign, DropBox, Google Drive, Veri-Tax, and Slack along with DeFi and traditional banks.

Retail Financing & POS Lending

Providers of point-of-sale financing extend consumers the opportunity to buy merchandise through instant installment loans. Technology-enabled Point-of-sale Finance, or Point-of-sale Lending, is becoming very appealing to all facets of consumer credit. Both online and store-based merchants want even more ways to make a sale with an active consumer. And, of course, consumers will enjoy the ability to obtain micro-loans for spontaneous purchases.

Use Cases For Data

The use cases for LedgerScore’s credit data are diverse, but the most common include:

Data for Digital/Online Marketing

Data for Media Buying

Data for CRM/Customer Retention

Data for Enhancement of Existing Data

Data for Background Checks

Data for Analytical Modeling

Data for Direct Marketing

Data for Customer Acquisition

Data for Risk Management

Data for Real-Time Leads

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