V-Series

V-SeriesAccount validation and verification

Minimising errors, reducing fraud, saving money, staying compliant

Validation

Data accuracy is critical when collecting Direct Debits from customers or paying money into bank accounts. Correct data avoids unnecessary bank charges, internal time and effort and reputational damage that results when failing to collect or pay on time.

V-Series validation:

  • Confirms a sort code does exists
  • Advises if the account number should exist (modulus checking)
  • Provides a list of the payment types supported by the account

For Direct Debit AUDDIS or Paperless Direct Debit users, validation at point of entry ensures you remain compliant with the Bacs scheme rules.

Verification

Verifying an individual's true identity helps to reduce fraud and, if you are a Paperless Direct Debit originator, is vital for Bacs scheme rule compliance.

V-Series verification:

  • Connects an individual to a bank account
  • Checks the account does exist and is still open
  • Confirms the individual is associated with the address

By integrating the check into your acquisition systems at the point of capture, the customer sign-up process is streamlined, reducing the need for alternative document-based verification procedures.

Solution Deployment

V-Series is designed with deployment models to suit all types of businesses:

  • API integration -  both online and onsite
  • Online web-based service
  • Desktop or on-premise

Key Benefits

  • Intuitive solution offering simple yes/no decision
  • Reduces manual errors, minimising payment failures
  • Eliminates unnecessary repair time and costs
  • Streamlines the customer on-boarding and renewal process
  • Assists with compliance and KYC checks
  • Decreases the potential for fraud
  • Easily integrates into 3rd party applications

How much could you save with V-Series? Find out!

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V-Series was formerly known as Albany eVERIFY.