MicroBilt Corporation
Microbilt Corporation is a credit reporting company. Since its founding in 1978 it has grown by acquisition to challenge its larger rivals.[1] Its PRBC consumer credit subsidiary offers consumers the ability to self report, a unique approach. The other subsidiaries focus on business credit and services to sub-prime lenders.
Acquisitions
Bloomberg's Company overview of MicroBilt, based on data independently collected by Standard & Poor's, lists the following acquisitions and incorporations:[1]
- 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 provided by MicroBilt Merchant Services are accredited by VISA. [2] This subsidiary also supports Remote Data Capture.[3]
MicroBilt Financial Services
Incorporated in 2004,[4] MicroBilt Financial Services acquired several companies in 1994, 1995 and 1996,[5] and used the name MicroBilt Financial Services Division on an interim basis. Some of their software products were internally developed and others were purchased.
PRBC
Incorporated in 2002 as Pay Rent, Build Credit[6][7], PRBC's Unique selling proposition is letting individuals detail their creditworthiness 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 Fannie Mae, Freddie Mac, and Citimortgage.[8]
MicroBilt, which acquired PRBC in 2008, has continued to develop it, and released a major line extension in 2012.[9] To the public at large, PRBC is MicorBilt's most visible offering.[10] 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” rap.[11]
CL Verify
CL Verify, which provides identity verification and payday loan history reporting, was acquired in 2010 from DP Bureau[12] They compete with Teletrack, which is known for its consumer credit database used by sub-prime lenders and payday lenders. Somewhat prior to this acquisition, CL Verify had launched a Skip tracing service.[13]
Books using MicroBilt data
Several recent books have used data from MicroBilt for research.
Corporate Performance
As a holding company, MicroBilt Corporation began to attract significant earnings coverage by 1987.[15] 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."[16]
Sponsorship
See also
References
- 1 2 "Company Overview of MicroBilt Corporation".
- ↑ "Visa's Global Registry of Service Providers".
- ↑ "Financial Institutions Must Rethink Their Remote Deposit Capture Support Models" (PDF).
- ↑ "MicroBilt Financial Services Corp".
- ↑ "As filed with the Securities and Exchange Commission on February 12, 1997".
- ↑ Susan V. Berresford, Ford Reports' Microfinance Plus, Ford Foundation website, 2004.
- ↑ subsequently shortened to PRBC
- ↑ Kenneth R. Harney (October 1, 2005). "Finally, Credit For Paying the Bills". Washington Post.
- ↑ PRBC MainStreet
- ↑ https://www.prbc.com
- ↑ Farrell, Maurine (28 September 2009). "Must-Try Marketing Maneuvers". Forbes. Forbes Media LLC. Retrieved 6 September 2017.
- ↑ "MicroBilt Corporation/ CL Verify".
- ↑ "CL Verify Launches TRACKER Skip-trace Service". 14 October 2008. Retrieved September 6, 2017.
- ↑ for more books, see: https://www.google.com/search?tbs=bks:1&q=%22MicroBilt+Corporation%22
- ↑ https://www.nytimes.com/1987/09/09/business/microbilt-corp-reports-earnings-for-qtr-to-june-30.html
- ↑ Ann Carrns (February 4, 2014). "Your Money". The New York Times.
- ↑ "Team MicroBilt PRBC". MicroBilt/PRBC-sponsored Team website.
- ↑ "LeHigh Valley - Ronnie Stewart - sponsored by MicroBilt".