Payments Dive

FEBRUARY 12, 2020

Account validation capabilities have not kept pace. In the 12 months ending February 2019, payment volume across the ACH network increased 7.2%, reaching over 100 million ACH payments per banking day, a first for the ACH network.

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The Nilson Report

JANUARY 2, 2024

The post Trustmi Provides Bank Account Validation appeared first on Nilson Report.

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The Paypers

SEPTEMBER 28, 2023

Morgan has announced that it has been designated by the US Treasury Department under a financial agency agreement to offer account validation services for federal government agencies.

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Payment Savvy

AUGUST 4, 2020

Starting March 19, 2021, the National Automated Clearing House Association (NACHA) will require businesses to perform online verification of bank accounts before they accept or process ACH payments. This accounts for close to 82% of all U.S Account Validation Approaches. payments, summing up to more than $15 trillion.

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Finextra

MAY 8, 2024

Phixius by Nacha—a trusted, secure, peer-to-peer payment information network—announced today its partnership with ValidiFI, a leading provider of predictive bank account and payment intelligence.

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NACHA

OCTOBER 23, 2023

Phixius by Nacha has successfully validated information for more than 4 million accounts since its first validation in March 2021. This accomplishment highlights its pivotal role helping customers of all sizes with Nacha rule compliance, as well as risk management.

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Phixius NACHA Account Validation Nacha Rules 52

The Paypers

NOVEMBER 1, 2022

US-based digital identity platform Socure has launched a new account validation solution aimed at FIs, government agencies, and enterprises.

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The Paypers

FEBRUARY 9, 2022

Aliaswire , a provider of digital payment and credit solutions, has announced the addition of a new bank account validation (BAV) solution for banks and their commercial clients.

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Fintech Finance

SEPTEMBER 27, 2024

Airbas e, the leading procure-to-pay solution for mid-market and larger organizations, is excited to announce a new era in financial operations with its launch of AI-powered Touchless AP (accounts payable). Airbase’s AI-powered touchless AP system is built to handle every step of the accounts payable process with minimal human intervention.

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The Paypers

JANUARY 8, 2021

US-based Nacha has announced that digital platform ValidiFI is now a Nacha Preferred Partner for Account Validation, according to the official press release.

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The Paypers

NOVEMBER 2, 2021

Bank of America has launched Account Validation, a fraud prevention service for corporate and public sector clients.

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The Paypers

AUGUST 3, 2021

US-based payments fraud detection provider Advanced Fraud Solutions (AFS) has rolled out TrueACH with Account Validation.

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The Paypers

AUGUST 3, 2021

US-based payments fraud detection provider Advanced Fraud Solutions (AFS) has rolled out TrueACH with Account Validation.

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NACHA

AUGUST 6, 2024

6, 2024 – Nacha announced that Visa, a world leader in digital payments, has joined its Preferred Partner program for ACH Experience, Open Banking and Account Validation. RESTON, Virginia, Aug.

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Agile Payments

JUNE 29, 2020

What does the new NACHA ruling around WEB ACH transactions really mean and why has it been implemented?

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Agile Payments

JUNE 29, 2020

What does the new NACHA ruling around WEB ACH transactions really mean and why has it been implemented?

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PYMNTS

SEPTEMBER 15, 2020

To that end, in an interview with PYMNTS, Kimber Johnson , executive vice president of strategic alliances at GIACT , said account validation is of increasing importance in an age where commerce is speeding up, and increasingly, moving online.

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Fintech News

JUNE 13, 2024

iPiD, a provider of payment verification solutions, has announced that its Global Bank Account Validation Deployment Kit is now available in the Microsoft Azure Marketplace. The solution also includes comprehensive Confirmation of Payee (CoP) validation, verifying account existence, ownership, name match, currency validation, and more.

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Finextra

AUGUST 7, 2024

Nacha announced that Visa, a world leader in digital payments, has joined its Preferred Partner Program for ACH Experience, Open Banking and Account Validation.

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Finextra

JUNE 18, 2024

Prometeo, a leading fintech infrastructure company connecting global corporations with financial institutions in Latin America, today announced the launch of its Bank Account Validation (BAV) offering for the US Market.

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Fintech Finance

JANUARY 10, 2024

VoPay , a leading provider of embedded financial technology solutions, has launched VoPay Verify, an Instant Bank Account Verification solution via microtransactions – pioneering the first-of-its-kind service in Canada and the United States. This initiative gives our clients an out-of-the-box method for account verification.

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PYMNTS

MAY 2, 2019

NACHA has announced that MicroBilt is a preferred partner for bank account verification. The Association named MicroBilt for the accuracy and timeliness of its account verification capabilities, it said. billion account records, we have one of the most robust account validation offerings in the industry.”

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Fintech Finance

AUGUST 7, 2024

Nacha announced that Visa , a world leader in digital payments, has joined its Preferred Partner Program for ACH Experience, Open Banking and Account Validation. Once consumer-permissioned data is integrated, account and balance details can be instantly verified to facilitate faster ACH payment set-up and more seamless payment flows.

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Fintech Finance

MAY 30, 2024

HSBC has introduced a new Payment Pre-Validation API (Application Programming Interface) to help business customers make payments with greater security, ease and confidence, by offering enhanced capabilities to verify payee details prior to initiating payments, making them faster and more reliable.

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The Paypers

JUNE 19, 2024

Prometeo has announced that it entered the US market via its Bank Account Validation (BAV) solution, supporting the connection between LATAM businesses and US banks.

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PYMNTS

MAY 10, 2019

In a new PYMNTS interview, David Barnhardt, executive vice president of product at GIACT , which offers fraud detection and account validation tools, talks about an upcoming change by NACHA, national administrator of the ACH network, to make internet-initiated debit transactions (WEB debits) safer and more seamless.

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Fintech Finance

MAY 30, 2024

Commonwealth Bank of Australia (CBA) will be the first Australian bank to help validate bank account details used in international payments to Australia by enabling its industry leading NameCheck technology on Liink by J.P.Morgan. Morgan, is designed for the exchange of global account validation information. Liink by J.P.

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The Paypers

JULY 6, 2023

Meta Platforms has selected US-based nsKnox to provide global vendor account validation and B2B payments fraud protection.

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Fintech Finance

MAY 7, 2024

Phixius by Nacha —a trusted, secure, peer-to-peer payment information network—announced today its partnership with ValidiFI , a leading provider of predictive bank account and payment intelligence. This collaboration will expand on Phixius’ current account validation coverage, leading to fewer returns and improving ACH payment quality.

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The Paypers

JUNE 7, 2022

US’ Nacha announced a partnership with Phixius and Aliaswire that will allow entities that originate a small volume of ACH transactions to comply with Nacha's WEB Debit Account Validation Rule.

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PYMNTS

JULY 5, 2020

With the new updated solution, BNY Mellon will let clients validate statuses and owners of accounts in real time across the U.S. The service is also payment-agnostic, able to verify accounts for payments including wire transfers, automated clearing houses (ACH) and real-time payments.

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Fintech Finance

APRIL 11, 2024

Banks can now access Verification of Payee (EU), Confirmation of Payee (UK) and SWIFT Beneficiary Account Validation (BAV) via Temenos Exchange using the SurePay API. It increases certainty that payments are sent to and received by the intended account holder. We have a proven solution.

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PYMNTS

SEPTEMBER 18, 2020

While some banks enable voice technology to make payments, check account balances and make transfers, the technology raises concerns regarding security, data privacy and dispute resolution. She noted that verifications can also utilize information tied to payment history.

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Fintech Finance

APRIL 24, 2024

AI-POWERED IDENTITY SOLUTIONS By combining its identity, biometric, AI and open banking capabilities, Mastercard can help protect consumers across the spectrum of scams, from card-based and account-to-account payments to fraudulent account openings. This extra step can protect senders before the funds leave their account.

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PYMNTS

DECEMBER 3, 2020

The portal also includes resources for account validation, Nacha said in its announcement, with Nacha Senior Vice President, ACH Network Administration Michael Herd noting, "Nacha wants to make it as easy as possible for businesses and other organizations to stay informed of changes.".

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PYMNTS

DECEMBER 30, 2019

Businesses may believe they need to spend money to make money, but many are spending more than necessary to keep their accounts payable (AP) departments running. offering payments to business services [and] you have real-time account validation services via [application programming interface] API,” he said.

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PYMNTS

MARCH 27, 2020

Consumers may have, in a panic, grabbed an old checkbook, tried to pay with an account that is closed or may have entered the wrong data as a result of “fat fingers.” If the payment is being tied to that account, does that payment make sense — does it ‘tie’ to the person?”. New Attack Vectors.

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