Non-profit lenders, CDFI’s, and other non-profit organizations that help consumers build credit rely on the data in Metro 2® reports to know their programs for low-income and rural communities are working. However, viewing the entire lifecycle of an individual’s credit has not been an easy task, until now.
IvyTek has developed an app, called Metro2, that streamlines the Metro 2® reporting process – the credit reporting standard accepted by Credit Builders Alliance and their clients.
To learn more about the importance of Metro 2® reporting, read our previous post titled: Integrated Metro 2® Reporting in an End-To-End Loan Management Software. To learn more about IvyTek’s latest app, Metro2, keep reading.
The IvyTek Metro2 app:
- Meets the requirements of the Fair Credit Reporting Act (FCRA) and Fair Credit Billing Act (FCBA).
- Allows reporting of consumer payment history for up to 24 months.
- Provides businesses the ability to report detailed information at both the account and consumer levels.
- Is designed to meet the data reporting requirements for CDFIs, non-profit lenders, and mission-driven lenders.
- Integrates with our flagship product, IvyTek Finance, end-to-end loan management solution
How can non-profit lenders, CDFIs, and Mission Driven Lenders access IvyTek’s Metro 2® reporting app?
We’ve made our Metro2 app easily accessible on the Salesforce AppExchange. The Metro2 app can be used as a standalone module, or can easily be integrated with our end-to-end loan management product, IvyTek Finance. Lenders can also evaluate our app on a try-to-buy basis.
The IvyTek Metro2 reporting application makes it easy to generate and transmit credit reports to the major credit bureaus. You connect Metro 2® data points into the app right from your source loans through a user-friendly data entry interface. This makes initial setup quick and easy for lenders and their CSRs.
Once you’ve connected the loan data, our app formats it according to the Metro 2® data specification and reporting format and creates a batch file.
Your reports are now ready for automatic delivery to the credit bureaus. This process ensures accurate, timely reporting of your customers’ account activity.
Want to know more about how our Metro2 app can help your organization? Schedule a Discovery Call to speak with a representative today.