Validate account ownership and protect ACH transactions
ACH Originators are facing two big issues: faster payments fraud and compliance with Nacha’s updated rule. Both can be solved with greater fraud prevention controls.
TrueACH® with Account Validation enables financial institutions to confirm
both the status of an account, and its authorized user(s).
ACH Account Insight
TrueACH® with Account Validation triangulates the identity of a query against an industry leading, FI-contributed database that includes account owner and authorized user identity.
Receive real-time responses on if the account exists and is in good standing; if the account is returning transactions or is closed, NSF or at high-risk status; if the account features a stop-payment; or if the person is authorized to transact on the account.
TrueACH® with Account Validation allows financial institutions to reduce the risk of fraud as well as address Nacha’s Account Validation requirements.
TrueACH® with Account Validation reduces risk as well as allows for faster funds availability and checking-to-checking / checking-to-savings transfers.
What people are saying about TrueACH® with Account Validation…
TrueACH® with Account Validation is a new ACH tool that enables financial institutions to confirm the account status, account owner or authorized user(s). TrueACH® with Account Validation triangulates the identity of a query against an industry leading, database, fed by financial institutions, that includes account status, account owner and authorized user identity. Ted Kirk, VP of Strategic Partnerships
As fraud migrates from channel to channel, FIs need to be taking an omnichannel approach. By doing so, FIs will not only be protecting themselves but also their customers. Being reactive not only hurts the bottom line, but also erodes trust and damages the member experience. Josh Sheehan, VP of Sales at Advanced Fraud Solutions