Tag: Account Validation

How One Customer’s Experience with Application Fraud Highlights the Need for Advanced Detection and Validation

In today’s fast-paced digital world, the convenience of online lending and instant credit approvals has become the norm. However, this convenience comes with significant risks, as fraudsters continuously develop sophisticated methods to exploit vulnerabilities in financial systems.   What is Application Fraud?  Application fraud involves the use of stolen or fabricated personal information to apply for […]

Boost Your Bank Account Verification with ValidiFI: Leading Coverage and Cost-Efficiency

In today’s fast-paced financial environment, where 82% of American’s are using digital payments, having a reliable and efficient bank account verification service is critical. Does your organization depend on verifying bank accounts from a diverse range of financial institutions, including credit unions, regional banks, and neobanks? Then ValidiFI is your ultimate solution. Here’s why.  Enhanced […]

Infographic: Everything You Need to Know About Bank Account Validation

Download infographic to learn about the commonly used bank account number validation methods like prenotes and validation services, Questions and features to consider as well as how ValidiFI can help you comply. As a Nacha preferred partner, ValidiFI offers flexible account validation services to meet your organization’s use case, friction and customer experience needs. Contact […]

Elevating Bank Account Validation and Risk Assessment to New Heights

Here at ValidiFI®, we’ve been diligently enhancing and expanding our predictive bank account and payment intelligence offerings to better serve your ever-evolving compliance, bank account validation, fraud, and credit risk needs. Introducing ValidiFI Solution Offerings: Predictive Bank Account and Payment Intelligence Solutions vIndex: Identify High and Low-Risk Financial Institutions. vAccount: Streamlined Bank Account Validation for […]

ValidiFI Relaunches with Its’ Industry-Leading Offering of Credit Risk and Validation Solutions

ATLANTA, GA, July 5, 2023 – Today, ValidiFI, announces its official relaunch following its acquisition by RIBBIT in June 2023. Moving forward, the combined company will operate under the ValidiFI name and branding, serving a broader range of industries and customers.  This strategic combination has now created one of the industry’s largest alternative databases of bank and […]

Why Is Account Verification Important?

With identity theft continually on the rise, bank account verification is becoming a critical asset for organizations and financial institutions alike. Bank account verification authenticates and validates bank accounts, providing a snapshot of an account to better determine its status and structure while also detecting possible fraudulent activity. Below, we explain the critical importance of […]

Why You Shouldn’t Sleep on Complying with Nacha’s WEB Debit Rule

Consumers today want instant gratification, particularly in the post-pandemic reality of having everything delivered to their doorstep on demand. To keep pace, payments were also required to evolve.  However, fraudsters were neither sidelined nor caught off guard with this evolution. Instead, fraudsters too have evolved with their schemes, techniques, and technology becoming more and more […]

Account Validation: A guide to Web Debit Compliance

Account verification is required for maintaining compliance with Nacha’s WEB Debit Rule. ValidiFI developed a guide on the various methods of account validation to help ensure you meet these requirements. The Web Debit Account Validation rule, effective since March 19th, 2021, requires ACH originators to use a “commercially reasonable fraudulent transaction detection system” to screen for fraud prior to […]

Nacha Announces ValidiFI as a Preferred Partner for Account Validation

ValidiFI is now a Nacha Preferred Partner for Account Validation. In becoming a Preferred Partner, ValidiFI joins a select group of innovators that Nacha recognizes for offering products and services that align with Nacha’s core strategies to advance the ACH Network. “The ACH Network – supported by financial institutions, preferred partners and many others – plays […]