Alacriti has launched its Orbipay Bank Account Validation & Verification Service, introducing a unified solution designed to streamline and secure bank account-based payments for businesses and financial institutions.
The launch of Orbipay BVV comes amid increasing challenges for organisations that accept bank accounts for payments and payouts, particularly in maintaining Nacha compliance for Web Debits and mitigating the risk of fraud from compromised accounts. Many firms still rely on outdated or manual methods such as challenge deposits or ACH Prenotes, which are not only slow and costly but also disrupt customer experience.
Headquartered in the United States, Alacriti provides payment solutions that empower financial institutions and businesses to deliver faster, more secure, and seamless payment experiences. The company’s cloud-native platform supports digital transformation across industries, offering a comprehensive suite of solutions for payments innovation and compliance.
The new Orbipay BVV service offers two real-time capabilities: Bank Account Validation (BVA) and Bank Account Verification (BVE). The BVA function validates bank accounts to ensure compliance with Nacha’s web debit rule while identifying valid accounts with an adverse return history. It operates fully in real time and is non-intrusive, providing around 95% coverage of U.S. bank accounts. Meanwhile, BVE verifies account ownership, providing instant verification for approximately 70% of accounts using challenge deposits and same-day verification for the rest. It also leverages Open Banking APIs to deliver credential-based verification, avoiding the risks associated with screen scraping.
By integrating these functions, Orbipay BVV enables organisations to meet compliance obligations, minimise payment processing issues, and strengthen their fraud and risk management strategies. The service is available both as a standalone solution and as a value-added feature across all of Alacriti’s product offerings.
Alacriti SVP of product management Stuart Bain said, “The expectation for ‘instant everything’ in the digital world requires payment processes to be fast, frictionless, and secure. The Orbipay BVV service is built to eliminate payment friction and risk at the source. By offering both compliance-driven validation and advanced, instant verification within a single, configurable platform, we are empowering our clients to accelerate growth, reduce ACH return rates by up to 20%, and improve their customers’ experience across all payment channels.”
The BVV platform also allows organisations to customise their risk tolerance and verification rules for different customer types. When paired with Alacriti’s unified money movement platform, businesses can consolidate their payment operations without the need for multiple integrations or vendors.
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