Instant, Inclusive Bank Account Verification
Verify the status and ownership of non-traditional accounts held at digital banks, credit unions, and regional banking institutions.
REQUEST A LIVE TRIALBoost account verification up to 20%
Millions of consumers are invisible in current bank account verification solutions that focus on traditional financial institutions, hindering financial inclusion and the fastest-growing segment of new account growth. Socure Account Intelligence solves this challenge by leveraging alternative and consortium data to verify the status and ownership of non-traditional accounts at digital banks, credit unions, and regional banks, unlocking an incremental 10-20% lift in coverage creating a more inclusive financial services experience for all users.
Socure Account Intelligence enables faster, safer, and more inclusive financial services
Cover underserved consumers beyond national and transnational banks
Eliminate delays and friction seen in microdeposit or permission-based methods
Maximize security by minimizing data input requirements with no need for account login
Provide detailed reason codes for actionable insights to optimize onboarding decisions
Key Benefits
Accelerate growth and revenue
Auto-convert a more diverse user base to accelerate revenue, while reducing cost
Prevent fraud losses
Make smarter decisions with data-backed intelligence and insights
Improve operational efficiency
Automate fast and accurate bank account verification to circumvent manual processes and dropoff
Why Socure?
Socure is a market leader in delivering powerful solutions that verify all populations, including underserved, thin-file, and non-traditional financial consumers — with single API access across end-to-end identity verification and fraud detection solutions via the Socure ID+ platform.
Enhance efficiency and cost savings
- Automate bank account verification to perform accurate real-time checks in seconds
- Eliminate costly manual processes that take days
- Only pay for value-based insights
Streamline the verification process
- Access instant account verification results for faster account funding
- Avoid the delays and potential dropoff associated with microdeposit and permission-based solutions
- Gain actionable data insights with thorough reason codes to automate onboarding and fraud prevention decisions
Simplify the user experience
- Requires only three data elements from the consumer: name, bank routing number, and account number
- Avoid using extra-sensitive data, such as bank login details
- Deliver a streamlined experience with quick onboarding to avoid time-consuming, friction-filled, and error-prone processes
Leverage 10+ years of industry expertise
- Benefit from the insights of Socure’s consortium database of more than two billion known outcomes
- Combine bank account verification with Socure’s award-winning identity verification and fraud prevention solutions in a single API
- Take advantage of Socure’s proven track record and unrivaled comprehensive data coverage
Key Capabilities
Replace pricy, outdated solutions
Replace permission-based solutions with a lower cost alternative and switch out microdeposits for a faster, safer option
Comply with Nacha requirements
Adhere to Nacha’s WEB Debit Rule to verify that a specified account exists and the requester is authorized to transact on it
Benefit from a value-based cost structure
Take advantage of competitive pay-for-performance pricing only when there’s coverage
Gain optimal data security
Require only a name, routing number, and account number for verification — no bank login necessary
Comply with Nacha operating rules and mitigate ACH payment risk and fraud
Resources
Blog
Account Validation Solutions: Which One is Best for Your Organization?
Learn how account validation can address the risks of permission-based solutions
Read MoreBlog
How to Stay Ahead of Digital Payments Fraud with Socure Account Intelligence
See why it’s critical to verify bank account status and availability
Read MoreFact Sheet
Socure Account Intelligence Fact Sheet
Instantly and inclusively verify bank account availability and ownership
Read More