Comprehensive and versatile confirmation of identity and bank account details

Transcription

1 Comprehensive and versatile confirmation of identity and bank account details Part of the Progressive Authentication suite

2 Bank Account Verifier is a comprehensive and versatile service that quickly verifies a customer s identity and confirms whether the bank account details provided are correct and valid. This can help you to avoid mistakes when setting up direct debits, reduce associated costs and increase sales. EQUIFAX BANK ACCOUNT VERIFIER

3 What is the process? The user simply provides the name, date of birth, address, bank account number and sort code. This is then compared to the details provided by the banks themselves to see if they match. Insight Name Address Date of birth Sort code Account number Name and address match Sort code match Account number match Full or partial match results Retail bank Monthly data supply EQUIFAX BANK ACCOUNT VERIFIER

4 Where can it be used? Customers Web Bank Account Verifier Goods and services ID validation Validates the identity of the customer you are dealing with Store Account validation Call centre Payment requests Validates the account from which payments are being requested Payment credited to the verified bank account Payment processing Payment validation Validates the account to which funds are being sent Almost half (43%) of finance departments are spending more than four hours every month rectifying failed DD or DC transactions. Business Computing World EQUIFAX BANK ACCOUNT VERIFIER

5 A MARKET-LEADING SUITE OF ID AND FRAUD PRODUCTS READ MORE...

6 Progressive Authentication allows you to do business with genuine customers and screen out fraudsters. By using Progressive Authentication you can set and optimise the level of checks you require by risk and product. Structured in a way that suits your business needs, you can maintain and improve customer service levels without increasing your risk of fraud. You also get access to new ID and fraud products as they re released. Progressive Authentication Identity Verifier Bank Account Verifier Device Verifier Fraud Protector Decisions Solutions Consultancy For more information on Bank Account Verifier or the Progressive Authentication suite, please contact your Account Manager, call or us at ukmarketing@equifax.com Limited is registered in England with Registered No Registered Office: Capital House, 25 Chapel Street, London NW1 5DS. Limited is authorised and regulated by the Financial Conduct Authority.

7 STREAMLINE YOUR ACQUISITION PROCESS READ MORE...

8 Bank Account Verifier can help you to streamline new business processes and improve your customer journey. It can help ensure that you avoid taking on fraudulent customers, accept only genuine direct debits for payment and increase profitability. Coverage Bank Account Verifier has extensive coverage of all types of UK bank accounts. It is able to match against current accounts, as well as basic bank accounts and can even match to non-consented accounts. Non-consented accounts Generally opened before 1998, a non-consented account is where the account holder has not consented for their data to be shared. However, Bank Account Verifier can now use these accounts for Fraud and ID purposes only. This increases the number of searchable accounts and can improve your match rate substantially. Linked addresses Bank Account Verifier can perform bank account checks by using current and previous address data. In addition, it can uncover previous linked addresses which may be associated with instances of fraud. This means you can verify individuals and match them to their bank account, even if they haven t notified their bank of a change in address. Visibility If a match isn t made, the returned characteristics will indicate why and how it can be rectified by identifying potential anomalies. This means, once rectified, you can continue to take payment with confidence. Even if a bank supplies only the bank account number, Bank Account Verifier can still match against this using our database of company numbers. This can improve match rates as Bank Account Verifier is able to match people to bank accounts even without a sort code. Granular Granular match levels that provide details on what has and hasn t been matched. This can help you make the best decision based on partial matches rather than reject those without an absolute match. Age of account Bank Account Verifier now provides an age of account indicator. The age of the account can provide an indicator of potential fraud, particularly where an account has only recently been set up. For more information on Bank Account Verifier or the Progressive Authentication suite, please contact your Account Manager, call or us at ukmarketing@equifax.com Limited is registered in England with Registered No Registered Office: Capital House, 25 Chapel Street, London NW1 5DS. Limited is authorised and regulated by the Financial Conduct Authority.

9 Bank Account Verifier is a comprehensive and versatile confirmation of a customer s identity and bank account details, helping to reduce fraud and increase sales. For more information on Bank Account Verifier or the Progressive Authentication suite, please contact your Account Manager, call or us at ukmarketing@equifax.com Limited is registered in England with Registered No Registered Office: Capital House, 25 Chapel Street, London NW1 5DS. Limited is authorised and regulated by the Financial Conduct Authority.