Accelitas Enhances Bank Account Validation Solutions with Real-Time Transaction Data
Leveraging real-time data from Fiserv, Accelitas advances Account Validation with unsurpassed bank account coverage and proprietary analytics to help businesses grow beyond compliance
PETALUMA, CA, February 9, 2023– Given today’s changing rules and economic uncertainty, the need for robust, pre-transaction account validation and risk modeling is more important than ever. However, most companies don’t measure Bank Account Validation (BAV) at all, leaving themselves unaware of risk management outcomes, return on investment, and opportunities for business growth.
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.
“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 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.
“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.”
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.
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.
Accelitas® is reimagining financial access through the transformative power of data. Our AI-powered predictive analytics and alternative data sources deliver fast, fair, and frictionless ways to help companies achieve business growth and financial inclusion. Powered by the real-time web services of its Accelerated Insight® Platform, the company provides innovative ways to seamlessly screen leads, validate accounts, and accept more creditworthy borrowers. The company is headquartered in Petaluma, Calif.
Accelitas and Accelerated Insight are registered trademarks of Accelitas, Inc. All other trademarks are property of their respective holders. Media Contact: Scott Mullins Accelitas, Inc. 1 (415) 842-7714 [email protected]