INSTANT ACCOUNT VERIFICATION
With more consumers accessing online banking every year and the increased demand for instant account verification, the risk for financial institutions increases dramatically. The need to manage risk in real time is crucial for financial institutions.
Yodlee Instant Account Verification leverages Yodlee FastLink to create a more intuitive experience for consumers opening new accounts, transferring funds and making online purchases. FastLink speeds the onboarding process, enabling users to add thousands of financial accounts quickly, easily and securely without compromising the success rate.
Using the industry’s most advanced verification approach to review consumers’ online credentials, Yodlee Instant Account Verification confirms both accounts access and balance in a single session, for real time decisions within the transaction process. And since more than 90% of all U.S. deposits can be verified with Yodlee Instant Account Verification, financial institutions can onboard customers quickly and efficiently by verifying accounts immediately for faster, safer online transactions.
Yodlee’s risk management provides these benefits:
- Provides fast, efficient, secure, online account verification
- Increases conversion rates, transaction, and profitability
- Reduces NSF, risk, and drop-offs
- Helps mitigate fraud with the online account opening process
IAV Data Sheet
Mitigate risk by finding out more about the industry’s most advanced account verification approach.