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