Mitigate Fraud and Stay Compliant with Nacha’s Web Debit Rules
As the consumer demand for faster payments continues to grow and organizations move more digital transactions to real-time, fraud is a growing issue. Upcoming Nacha rule changes—requiring originators of WEB debit entries to use a “commercially reasonable fraudulent transaction detection system”—are meant to protect against fraud and offer new layers of protection for businesses and consumers.
Orbipay Instant Bank Account Validation services simplifies the real-time bank account validation process. Instant Account Validation provides customers with the seamless digital experience they have come to expect, and you get to accurately confirm their account ownership and financial information to safeguard against risk.
Bank Account Validation
Validation of ABA routing number, account number, and account structure
Matching of customer name against the name on the account
Account status such as open and active, or closed accounts at point of transaction
Accounts that are currently returning transactions
Analysis of transaction data from financial databases (ACH and e-check verification data of over 1.8 billion records)
Predictive analysis and risk scoring
Flexible rule-based framework for decision-making
Easily integrate account validation services into existing workflows
New account opening and funding
Reduce fraud and risk
Stay compliant with regulatory requirements
Deliver outstanding experience to customers
Integrate accounts seamlessly
Instant bank account validation services are a vital part of Alacriti’s commitment to provide digital payment services that help companies achieve greater operational efficiencies while managing risk and cutting costs.