Albany's account validation solutions greatly reduce costly, time consuming errors often encountered during data entry. With up to 10% of all data entered into a system being incorrect,* it is particularly important to validate account data associated with electronic payments and collections.

Checking the accuracy of account details prior to attempting to perform electronic funds transfers helps to reduce the number of returned payments and the resulting costly, time consuming correction process. This reduction in errors not only eliminates delays in making payments and collections, but also reduces staff time spent correcting mistakes.

Our ALBANYverify solutions perform fast, accurate confirmation of sort codes (using the Industry Sort Code Directory) and full modulus checking on the combination of the valid sort code and bank account details. An Application Programming Interface (API) solution is also available for those who want the added benefit of 'point of entry' verification, greatly reducing the risk of fraud.

* source: www.bacs.co.uk