Accelitas Enhances Bank Account Validation Solutions with Real-Time Transaction Data

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Accelitas and Fiserv team up to advance real-time data and proprietary analytics in BAV solutions

In recent years, the Bank Account Validation conversation has revolved around compliance, as the payments ecosystem aligned to meet new Nacha standards for secure ACH transactions.

Check the compliance box and you’re good to go. At least that’s how a lot of businesses currently view their BAV service.

But given today’s changing rules and economic uncertainty, the need for robust, pre-transaction account validation and risk modeling is more important than ever. And the fact is, most companies don’t measure BAV performance at all, an oversight that leaves them unaware of risk management outcomes, return on investment, and new opportunities for business growth.

Two innovative fintech leaders are turning oversight into opportunity.

Fiserv brings a real-time data advantage

Through an expanded relationship with Fiserv, a leading global provider of payments and financial services technology solutions, Accelitas is augmenting its existing BAV solutions with real-time data, creating next generation bank account validation services designed to drive more growth for businesses and create less friction for consumers.

"Technology powered by timely and detailed data will lead to better informed decisions," said Charles Williams, VP and GM of Alternative Payments at Fiserv. “Real-time transactional data helps Accelitas lower risk for their clients through stronger points of validation, and also streamlines end user experiences via faster decisioning.”

Accelitas custom fits the risk strategy

Accelitas is a Nacha Preferred Partner for Bank Account Validation, bringing predictive analytics expertise to create custom-tailored solutions for today’s businesses. Fiserv provides Accelitas with real-time data from its check and ACH acceptance and processing business, which helps hundreds of thousands of U.S. businesses validate checks and enables industry leading digital ACH and pay-by-bank payments.

Combining real-time processing data from Fiserv with powerful analytics and patent-pending algorithms from Accelitas delivers up-to-the-minute account insights with unmatched coverage, routinely testing at 98% knowledge of all U.S. consumer bank accounts.

These BAV cloud services can be fine-tuned to risk strategy, transaction type, and compliance requirements to address a broad spectrum of risk profiles and use cases. The result is a more intelligent and economical way to improve ACH success rates, reduce returns, and mitigate fraud risk while staying compliant with the mandatory Nacha Web Debit Account Validation rule now in effect.

Comprehensive solutions for a changing payments ecosystem

“In today’s complex payments landscape, businesses are faced with solving for risk factors that go beyond compliance," explains Kelly Zelenski, SVP Strategy and Business Development at Accelitas. “They need to ask hard questions of their BAV provider. What’s your real coverage? How do you measure performance? What tools do you have to improve performance over time? How adaptive is your solution to business or market changes? Accelitas is well equipped to answer these questions.”

Accelitas provides instant account validation delivering a frictionless customer experience without the use of Online Banking (OLB) credentials. They include Ai Validate | BAV, designed for low to medium risk ACH transactions, and Ai Validate BAV | FCRA, used for higher-risk ACH transactions.

Why just check the compliance box when your BAV service can be doing so much more?


Tags: Financial Services, Accelitas, compliance, AI-Powered Analytics, Reimagining Financial Access, Timely payments, Ai Resolve, Bank Account Verification, Accelerated Insight Platform, Confidence Score, Account Confirmation, NACHA Compliance, ACH-ability, NACHA, Account Validation, Ai Verify, Fraud, ACH, Fraud Screening, Account Verification, SOC Compliant

Posted by Scott Mullins on 2/9/23 6:31 AM
Scott Mullins
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