As of March 2021, Nacha has mandated that all ACH originators include account validation as part of a “commercially reasonable” fraudulent transaction detection system. Verify Account can assist you in adhering to Nacha rules without adding friction to transactions.
ACCOUNT OWNER
AUTHORIZATION
WEB DEBIT
ACCOUNT VALIDATION
GOVERNMENT BENEFIT
DISBURSEMENTS
PAYROLL DIRECT
DEPOSIT
NACHA WEB DEBIT
RULE ASSISTANCE
PAYROLL
ENROLLMENTS
INSURANCE
PAYOUTS
Alex chooses ACH to receive the funds.
SafeHome uses Verify Account to validate that the account belongs to Alex and he is authorized to transact on it.
The National Shared DatabaseSM Resource – which contains bank-contributed account and ownership data – makes it possible for SafeHome to validate the account before processing the payment.
Alex’s account is verified and SafeHome issues an ACH credit.
IMPROVE THE CUSTOMER EXPERIENCE
Accelerate valid user transactions and reduce friction with an inquiry-based, real-time solution.
REDUCE LOSSES DUE TO FRAUD
Better detect transaction fraud and reduce fraud in your Payables and Receivables process by leveraging current and accurate account intelligence
INCREASE REVENUE
Expand your offerings and differentiate your value in the marketplace with this non-FCRA compliant solution.
ENHANCED DATA MODELS
Embedded enhanced machine learning models better predict the likelihood if a check or ACH transaction will return within 30 days.
NACHA WEB DEBIT COMPLIANT
Stay compliant while configuring the capability into your own risk tolerance.
If you are a financial institution looking to mitigate payment risk, you’ll want to check out Verify Payment
IMPROVE THE CUSTOMER EXPERIENCE
Accelerate payments to customers with real-time account validation
REDUCE LOSSES DUE TO FRAUD
Reduce fraud in your Payable and Receivables process by validating customer’s account status and authorized signers.
LARGE SOURCE OF DEPOSIT ACCOUNTS
Current and accurate account intelligence contributed from thousands of banks lets you better detect transaction fraud.
Leverage 30 years of experience to enhance your new accounting opening strategy.
Early Warning is the Trusted Custodian® of the National Shared DatabaseSM Resource which contains a rich set of data, ensuring our information is always up-to-date.
Grow at your own pace! Access our capability bundles through a simple API. Implement once – and quickly deploy additional capabilities in a snap.
Our risk assessment algorithms incorporate comprehensive, cross-institution data sets, adding depth and perspective to insights.
Early Warning is the Trusted Custodian® of the National Shared DatabaseSM Resource – which contains a rich set of deposit performance data contributed by more than 2,500 financial institutions including banks like:
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