Verify Bank Owners & Accounts
Transact with Confidence
Before you can transact with users, you have to ensure their bank details are authentic and their accounts are set up for payment. Our bank validation service covers 100% of deposit accounts, so you can fight fraud and manage risk, for every transaction.
Key Benefits of Bank Account Validation
Bank account validation takes only seconds to confirm that an account, including the bank account number, BSB, balance, and holder name are valid.
Reduced Drop Offs
User conversion is increased and abandonment reduced in the account verification process
Reduced Risk and Fraud
Verifying users’ account can help you evaluate risk for application-processing decisions and minimise fraud loss
Avoid initiating direct debits to reduce costs and cut payment errors by keeping bad account numbers from being entered
Plug-and-play API enables you to get started quickly and seamlessly and add additional use cases as your business grows
Seamless User Experience
Pre-validating accounts in real time vastly increases the chances of a successful, seamless transaction flow
Envestnet | Yodlee has operated locally for 10+ years and is closely engaged with the ACCC and Open Banking in Australia
Cover 100% of Deposit Accounts
Multiple Authentication Paths
Verify account ownership and enable faster payments by retrieving full account number, BSB numbers, and holder name(s).
Choose from a number of ways to verify users’ accounts, transactions, and identities, such as: