Automatically Validate Bank Details To Stop Failed Payments
Designed to help payment service providers, banks, and corporations, Bankers Almanac Validate ensures seamless, straight-through payment processing and a positive experience for their customers. As customers set up payments online, the payments API checks their details in real time against up-to-date payment rules covering almost 200 countries.
Using a simple payments API integration, it not only enables validation, it also enhances payment details by automatically adding:
- Payment network routing details
- Standard Settlement Instructions (SSIs)
- Full bank and counterparty bank details
- IBAN and BIC numbers generated from domestic account details
Bankers Almanac Validate reduces workload for end users and creates a seamless customer experience.
The payments API works in the background to instantly verify customer-entered information against payment and compliance rules. If something isn’t right, such as an IBAN or ACH number, it can immediately alert customers before they hit “send,” preventing delays and failed payment fees.
Comprehensive developer and payments API management tools make Bankers Almanac Validate quick and easy to deploy.
For payments within countries that require payment purpose and tax code details, Bankers Almanac Validate generates option menus that automatically guide customers to provide this information.
Benefits
Bankers Almanac Validate reduces workload for end users and creates a seamless customer experience. It works in the background to instantly verify customer-entered information against payment and compliance rules. If something isn’t right, such as an IBAN or ACH number, it can immediately alert customers before they hit “send,” preventing delays and failed payment fees.
Features
Bankers Almanac Validate ensures the data captured at payment setup is accurate and complete. It provides ongoing access to the most up-to-date payment routing information including:
- Standard Settlement Instructions
- Correspondent bank details
- Clearing system participation details for financial institutions worldwide
Comprehensive developer and API management tools make Bankers Almanac Validate quick and easy to deploy.
For more information, download our LexisNexis® Bankers Almanac® Validate™ brochure.