text: Asset verification means checking to make sure someone has something valuable that they said they had. \n\nFor instance, if you go to the bank and ask to borrow money, and tell them that you have a nice boat and a nice car, the ban will verify that you have those assets before lending you money. The reason they want to verify is that if you don't pay the money back, they'll want to take those assets from you to pay off the loan.