ValidiFI has expanded its vAccount+ suite to include authoritative bank account verification, enabling real-time validation of account status and ownership using direct-source financial data.
The new tools include vAccount+ Verify and vAccount+ Coverage, which will help firms onboard customers, initiate ACH payments, and detect fraud with higher accuracy.
Built with AI and machine learning, the enhanced suite supports compliance with NACHA regulations and helps banks, lenders, and fintechs make smarter, faster decisions at scale.
Bank account and payment intelligence company ValidiFI recently unveiled enhancements to its vAccount+ suite. This week’s release will add new capabilities for authoritative bank account verification that firms can use when onboarding new customers, initiating ACH transactions, verifying payouts, and ensuring compliance with NACHA and anti-fraud regulations.
Authoritative bank account verification refers to the process of confirming a retail or commercial customer’s bank account ownership and status using official, direct-source data that is obtained from banks, core processors, or authoritative financial institutions. This is in contrast to traditional verification methods that rely on information supplied by the user, manual document uploads, or even micro-deposits. Instead, authoritative bank account verification leverages real-time data to confirm that an account exists, is open and active, and that the person or business claiming the account is indeed the rightful owner.
ValidiFI can leverage the new capabilities to validate up to 85% of accounts based on authoritative data and known transaction history. ValidiFI’s new authoritative bank account verification tool leverages AI and machine learning to analyze bank account and routing number patterns and relationships, which extends coverage to provide insights on 96% of accounts.
“Expanding the vAccount+ suite to include authoritative bank account verification empowers organizations in the B2B payments space to make informed decisions, optimize workflows, and improve risk management strategies,” said ValidiFI CEO John Gordon. “This addition reflects our commitment to delivering actionable insights that drive smarter, more efficient business operations.”
The two authoritative bank account verification tools include vAccount+ Verify, which verifies with authoritative sources for higher accuracy; and vAccount+ Coverage, which maximzes verification using all available data, including authoritative sources.
The tools verify the accuracy of the customer’s bank account and routing number, and offer the option to authenticate bank account ownership by matching the applicant’s details with the account owner’s information. The ownership details help organizations detect discrepancies and potential fraud.
Founded in 2014, ValidiFI offers real-time bank account verification and payment intelligence solutions for both retail and commercial customers. Its tools help lenders, banks, and fintechs improve credit decisioning, prevent fraud, and manage risk with more precision. ValidiFI’s platform is particularly effective in spotting suspicious patterns, such as synthetic identities or mule accounts, and in supporting compliance with account verification mandates such as NACHA’s WEB Debit Rule. By delivering actionable insights instantly, ValidiFI enables its clients to make confident, data-driven decisions at scale.
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