Positive Account Validation
Automatically validate consumer bank account information to reduce errors and risk with Positive Account Validation from Fiserv.
| Automated verification Reduce resource needs and expedite check processing with fast, reliable automation that delivers a clean posting file quickly. |
| Check verification Automatically confirm account information to reduce errors, improve operational efficiency and save time researching unposted items. |
| Mis-post mitigation Leverage imaging technology to repair any mis-keyed account information, ensuring it does not become a mis-post on the core and helping meet compliance expectations. |
| Cost-effective risk mitigation Take advantage of an easy-to-implement solution that reduces overall risk to your institution, decreases losses from potential fraudulent check activity and is easy to implement. |
How positive account validation works
- An extract of on-us account files is taken from the core system
- Inclearing files from the Federal Reserve, Fiserv Clearing Network and correspondent banks are matched with the extracted files to ensure accuracy
- Any inclearing or on-us over-the-counter items identified with mis-keyed account numbers are repaired to avoid a mis-post on the core
- If a file match is not found, the operator is alerted for further action including item research, correction and posting
