Overview
Looking for a Convenient Tool to Reduce Bank Account Related Fraud and Maintain Compliance?

ValidiFI’s Account Validation service introduces a new standard for authenticating and validating bank accounts 

This service verifies the legitimacy of a bank account, the status of the account, account structureas well as detects evidence of potential fraud prior to accepting payments.  

Overview
Validate income, expenses, and payment patterns

Bank Aggregation uses data directly from a bank account. Get the balance, deposits, and detailed transaction information. We apply data science, machine learning, and analytics to identify the most important bank account’s behaviors in easy to use results.

With Bank Aggregation you get truly alternative data to help you make informed decisions, by verifying identity, account ownership, employment, income amounts and frequency, debt stacking, expense trends, the ability to pay, life events, marketing opportunities, and much more.

We have the largest financial institution coverage at 31,000+ with over 48,000 connections for built-in redundancy.

Use Case Solutions

Data Attributes

Routing Number & Account Number Structure
Validates that a bank routing number belongs to a Financial Institution and is ACH capable, as well as validates that account number matches the structure issued by the financial institution.
Contributory Transaction Data
Proprietary database contributed by businesses, merchants, and payment processors.
Live Account Status Validation
A live ping of the bank account to identify if the account is currently open, closed, or invalid.
Banking Data
A proprietary database housing positive and negative banking data, cleansed and normalized into actionable insights.
Case Study
Making Profits out of Near Losses

An online business dealing with fraud related to accepting ACH payments reached out to ValidiFI for assistance. ValidiFI was able to identify the best tool to assist them in identifying accounts that would never be able to be collected due to the accounts being invalid, closed, or history of poor performance. By including ValidiFI’s Account Validations service in their customer onboarding and payment acceptance, they were able to mitigate returns and reduce their losses.

Case Study
Borrowers' risk profile

An online business dealing with fraud related to accepting ACH payments reached out to ValidiFI for assistance. ValidiFI was able to identify the best tool to assist them in identifying accounts that would never be able to be collected due to the accounts being invalid, closed, or history of poor performance. By including ValidiFI’s Account Validations service in their customer onboarding and payment acceptance, they were able to mitigate returns and reduce their losses.