Independent verification agent for warehouse and ABS facilities

Live in Europe since January 2026

Every borrowing base you fund rests on data the originator produced. We check that data against the bank accounts, the documents and the originator's other facilities before it reaches you. Flags go to you automatically, with the certificate, in the cadence of your draws.

January 2026

live as verification agent on a European facility

Daily or weekly

checks, matched to the draw cycle

Bank and PSP data

read at source, read only

Whole book

checked for double pledging, not just your facility

Cash matched to the tape

Collection and transaction accounts read at source. Incoming payments are reconciled against the tape, so a receivable with no payment behind it shows up.

Checks before the draw, not after

Eligibility, concentration and data quality run on every funding package before the certificate is issued.

One check across the whole book

We receive data for every facility of an originator. The same asset in two facilities is flagged in your report.

Documents and payouts, where they carry information

Spot checks on merchant contracts and loan documents. Payout flows watched for redirection to unrelated or related-party accounts.

Code you can read

Every rule is modelled in Excel, signed off by your analyst, then coded. On request, we walk your team through the code.

What is a verification agent?

A verification agent checks that the assets behind a facility exist, are eligible, are assigned to the right lender and that the cash the originator reports has actually arrived. The role sits between the originator and the lender and is paid from the waterfall.

It is a standard appointment in European warehouse and asset-backed securities (ABS) transactions and increasingly a condition in the facility documents.

Credibur also acts as calculation agent and backup servicer on the same data feed. See the lender solutions page for how the roles fit together.

What it is not

A Big Four audit, a review of the originator's financials or a view on its credit underwriting. We work on data integrity and payment verification. We do not hold or move funds. SPV, account bank and corporate services stay with licensed providers.

The three layers

01Asset data

Loan tape from the originator's system by API or file. Data quality and sanity checks, anomaly detection on amount distribution, order-to-shipment gaps, refund and return rates. Double pledging across facilities.

02Payment data

Bank and PSP accounts read at source, not from a file the originator sends. Repayments without a matching asset, outflows in unexpected currencies, payouts to accounts that were not there yesterday.

03Documents

Loan and merchant contracts cross-referenced against asset and payment data. Sample or full scope. Right to call for contracts on seven days' notice is written into the docs; a new large merchant or a tenor that does not fit triggers the request.

CrediburOne verified borrowing base, built from all three.

How it works

Setup

✓Three-party call: lender, originator, Credibur

✓Eligibility, concentration and verification rules modelled in Excel, signed off, then coded

✓Loan system connected by API or file, bank and PSP accounts connected read only

✓Document access agreed, test run on the first tape

Each cycle

✓Funding package or tape arrives, run starts on arrival

✓Checks run, borrowing base rebuilt from verified data

✓Flags and certificate go to the lender automatically, in your format, daily or weekly

Exceptions

✓Red, amber, green per check, or per-account detail if you want it

✓Analysts on both sides can call us

✓Documents requested from the originator where a flag needs one

What we check

Eligibility criteria per asset
Concentration limits
Collections reconciled against the tape
Sweeps to the SPV reconciled against reported collections
Merchant and borrower payout flows
Double pledging across facilities
Data quality and anomaly detection
Document spot checks
Overdue information undertakings

Double pledging is invisible from inside one facility. We see it from the middle.

The originator sends loan data for every facility it runs. Your facility, the other lenders' facilities, the equity-funded book. We check across all of them. A loan that sits in your facility and in Facility A at the same time is flagged in your report. You only see the subset that concerns you.

Originator

Facility A

Your facility

Facility C

CrediburOne check across the whole book.

Same loan pledged in your facility and Facility AYour facility

Where it runs

B2B BNPL warehouse

Merchant and debtor data, clearing files and merchant payout accounts. Verification one layer up where a merchant runs its own commingled collection account.

Trade receivables facility

Weekly document spot checks and account balance checks. Live since January 2026.

Card receivables, daily recycling

Draw and recycle every day including weekends, across multiple currencies. Per-account money movement consumed by API.

Multi-lender structures

All collections into one account, swept daily. We verify that what reaches your SPV matches what was collected on your receivables.

Discuss verification for your facility

We scope the checks to your term sheet, model them in Excel with your analyst and have them running before the first draw.