Validate Accounts with Online Transaction Data
Understand Your Users
What are your users' financial patterns and behaviors? Are they a good match for your services? With real-time access to transaction data, you can instantly understand your users' account behavior. So you can maximise fraud detection and evaluate risk, quickly and easily.
Key Benefits
Instant Verification
By adding our Transactions Verification service to Envestnet | Yodlee® bank Account Verification, you can leverage transaction and bank data to confirm users' financial behavior.
Support Regulatory Adherence
Compare and verify transactions to meet global rules for fraud screening and strengthen account verification processes.
Real-Time Validation
Instant access to financial data confirms the existence of the account and the account balance in seconds with bank account validation.
Reduce Risk and Fraud
Leveraging transactions can help you understand consumer account behavior and identity fraudulent setup.
Easy Integration
Plug-and-play API enables you to get started quickly and seamlessly and add additional use cases as your business grows.
Cost Efficiency
Reduce costs by reducing payment failures and fraud access and replacing debit card transactions with ACH transfers.
Payments Support
Verifying account transaction details enables smoother, more reliable risk based ACH transactions.
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Solution Brief
Account Verification to Mitigate Fraud and Risk
To reap the rewards of ACH, businesses must minimise the risk of payment returns due to NSF, invalid accounts, and fraud. Envestnet | Yodlee Account Verification can ensure an account is valid in seconds.
Transaction Verification Use Cases
Real-time access to transactions can be used for number of solutions, like:
- Credit: Quickly determine whether a potential borrower can to pay back a loan.
- Personal Financial Management (PFM): Automatically trigger financial alerts that enable users to take action. Because users don’t have to manually upload financial statements, user adoption and retention are increased.
- Customer support: Understand users’ account behavior to target the right customers with the right service, offer, or message.
Get Started With Transaction Verification
Use account transaction verification to validate accounts and understand account behavior to prevent fraud and evaluate risk.
Get Started