Proprietary Data

PayNet has created a closed give-to-get network focused on delivering commercial credit and risk management solutions to our membership. By closed, we mean that only PayNet members have access to this information. All members are required to provide information about their customers in order to share access to the network and associated services. The member lender supplying the data is not obligated to be identified to other members.

The information reported to PayNet consists of

• obligor identification such as name, owners, address, taxid, and phone numbers;
• obligation information such as amount borrowed or high credit, term, commencement and maturity dates, payment schedules, and guarantor information;
• collateral, when applicable;
• monthly account update comprised of snapshots of each obligation including month-end balance, current status (including negative events such as collection, repo, and write-off), days late, past due amounts by aging category, number of times late for each aging category and last paid/next due information.

Protection of Customer Data

PayNet adheres to the Prudent Man Rule: we preserve the confidentiality of our customers' information as we would treat our own information. On behalf of our customers, PayNet is committed to constant evaluation of appropriate levels of information security in keeping with our resources and responsibilities.

Since information is the essence of our business, this obligation is of the highest priority for PayNet. Management takes the position that, in the area of customer information, there can be no compromise.

Additional information regarding PayNet's security and control environment is available upon request.

PayNet Data Management

PayNet operates a patented method to gather, process, and provide services. PayNet assembles a team of employees dedicated to integrating incoming data. Their job is to make this process as easy and straightforward as possible while ensuring the highest quality of incoming data. Although each member is responsible for providing a suitable data feed to PayNet, PayNet has simplified this in many cases by working with many software providers to set up a ready-to-use automated reporting process.

Verification

All incoming data goes through PayNet's Quality Assurance process. By filtering data at multiple processing points, PayNet flags suspect data for review by one of its data analysts. The analyst verifies the information before the data will be included in the production database. Once the PayNet QA process is completed, the data is made available to the member for User Acceptance Testing (UAT). UAT allows the member to preview their data before publication.

Access

PayNet products are delivered via two methods: PayNet On-Line^® and PayNet Direct^®.

PayNet On-Line is a web-based access system. Members enter the PayNet On-Line site through a standard login authentication process. The member queries for the applicant and selects from a menu of products. The report is delivered to the credit professional within seconds.

Alternately, PayNet data can be sent directly to the member's credit process through a web service called PayNet Direct. PayNet has worked with many front-end providers to seamlessly integrate PayNet information into the credit process.