Real-Time Bank Account Validation
Identify account status and risk scores with a single inquiry in real time.
Avoid Failed Payments
Up to 1 in 8 payments contain incorrect payment information that could cause the payment to fail or requires manual repair. Failed payment can result is expensive remediation, processing delays and friction, leading to a poor customer experience.
FinZeo’s Account Validation process will verify that the consumer or business bank account numbers and ABA numbers are valid prior to the transactions being processed.
FinZeo’s real-time account validation service confirms accounts in seconds without the use of Online Banking (OLB) credentials. Our solution delivers a frictionless experience that helps businesses gain insight on the bank account, reduce fraud and abandonment rates, while meeting Nacha requirements.
Real Time- Bank Account Validation
Real-time responses on if the account exists and is in good standing; if it is returning transactions or closed, NSF or high-risk status; stop-payment; or if the person is authorized to transact on the account.
Bank Account Insight with Risk Management Analysis
- Confirm the legitimacy of a bank account owner or authorised signer
- Validation of ABA routing number, account number and account structure
- Predictive analysis and risk scoring
- Flexible rule-based framework for decision-making based on PASS, FAIL or WARNING
Mitigate Frauds
- Analysis of transaction data from financial databases (ACH and e-check verification data of over 1.8 billion records)
- By verifying all account details in real-time, you can check the bank account number and reduce the risk of capturing incorrect data, avoid erroneous payments
NACHA
- Meets the requirements of the NACHA WEB Debit Account Validation Rule.
Benefits of Using Bank Validation
Avoid Failed Payments
Think of failed payments as lost customers. Validation at point of entry ensures faster, successful payments first time round, reducing payment errors and increasing conversions.
Improved Customer Experience
Eliminating failed payments allows you to provide your customers with faster, hassle-free checkouts and deliver the required products and services without delays or disruption.
Avoid Unnecessary Costs
Save your business time and money by removing any unnecessary administration fees, bank charges and other operational costs incurred by re-processing failed payments.
Open APIs
Easily integrate account validation services into existing workflows.
Our API's are built to get you up and processing as quickly as possible. You can even test your code in the FinZeo sandbox before you go live.
Try Sandbox