NACHA has announced that MicroBilt is a preferred partner for bank account verification.
A press release issued Wednesday (May 1) said MicroBilt is joining NACHA’s Preferred Partners community, a group of service providers that NACHA says support the payments ecosystem with their solutions. The Association named MicroBilt for the accuracy and timeliness of its account verification capabilities, it said.
“Account validation is an important tool for businesses that originate ACH transactions,” said NACHA Chief Operating Officer Jane Larimer in a statement. “Fast and accurate account validation enables businesses to better understand their customers, providing for a more positive customer experience, while reducing the number of returned transactions.”
Larimer added that firms like MicroBilt address risk and improve transaction quality, “making for an improved transactional experience for all payments participants.”
MicroBilt operates a Risk Verification Database that connects businesses with the ability to verify account details, view information on return history, and improve decision-banking about which entities with which a company does business.
“Our account validation platform, Risk Verification Database, incorporates the latest technologies to provide businesses with a quick and accurate understanding of the risk profile of their customers,” said MicroBilt Senior Vice President, Strategic Development Dave King in another statement. “With a database of more than 1.5 billion account records, we have one of the most robust account validation offerings in the industry.”
He added, “Banks, credit unions and businesses are looking for the fastest, easiest and most comprehensive path for account validation to help manage and reduce risk, and they’ll find that using our Risk Verification Database provides them an indispensable advantage.”
Other members of NACHA’s Preferred Partner community include B2B electronic payment enablement provider AeroPay, B2B payments player Bottomline Technologies, payments and financial services firm Fiserv and Payments-as-a-Service company Volante.