Alacriti Unifies Account Validation and Verification in a Single Platform To Cut Payment Risk

Alacriti, a leading provider of cloud-based payment technology, announced the launch of its Orbipay Bank Account Validation & Verification Service (BVV), offering businesses and financial institutions a modern, unified approach to securing bank account-based payments. Clients who accept bank accounts for payments and payouts face mounting challenges, including ongoing Nacha compliance for Web Debits and fraud risk from compromised bank accounts. Traditional alternatives—such as manual processes, challenge deposits, and ACH Prenotes—are often slow, costly, and disrupt the customer experience. Orbipay BVV addresses these issues by offering two core, real-time options:

• Bank Account Validation (BVA): Validates bank accounts to comply with Nacha's web debit rule and flags valid accounts with an adverse return history. BVA is fully real-time, non-intrusive (using only basic bank account data), and provides ~95% coverage of US bank accounts.
• Bank Account Verification (BVE): Verifies account ownership as a crucial step in an overall payments fraud and risk management strategy. BVE provides instant verification using challenge deposits for approximately 70% of bank accounts and same-day verification for the rest. It also offers credential-based verification solely using Open Banking APIs, eliminating the reliability and security issues associated with screen scraping.

Orbipay BVV Service delivers a complete solution that can be used to not only meet compliance requirements but also reduce payment processing issues and form a key part of an organization's payments fraud and risk management strategy. BVV is available as a value-added service for all of Alacriti's products and is also available as a standalone service. "The expectation for 'instant everything' in the digital world requires payment processes to be fast, frictionless, and secure," said Stuart Bain, SVP of Product Management at Alacriti. "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." Organizations using BVV can set their risk tolerance and business rules that will trigger verification or validation for different customers. BVV is offered with Alacriti's unified money movement and payments platform, centralizing all payment needs in one platform, and vendors eliminate the need for integrations or multiple commercial relationships.