A leading Educational Services institution wanted a seamless, real-time integration of an electronic Asset Verification System (AVS). Discovery of undisclosed assets of individuals applying for and/or receiving Financial Aid services had to be monitored. The solution also had to be compliant with regulatory acts nationwide. The solution would need to scale to its customers size and infrastructure without custom development.
Our team developed an innovative asset verification system solution that used electronic networks to provide the most comprehensive real-time solution in the United States. The solution can identify assets over eligibility thresholds and/or likely asset transfers during the prior 60-month “lookback” period.
Our real-time banking system integration with Bank of America, JPMorgan Chase, Wells Fargo, Capital One, and other national financial institutions, provided a comprehensive search of Texas assets and accounts, and highlighted potential asset transfers during a 60-month historical period that indicated increased risk or potential fraud.