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Risk Verification Database Basic

Look at historical data on a bank account to predict if an electronic check or ACH debit will process without returning.

WHAT IT IS:

Risk Verification Database (rVd) Basic looks at historical data on a bank account to predict if an electronic check or ACH debit will process without returning.

WHAT IT DOES:

Risk Verification Database Basic:

  • Leverages MicroBilt’s database of over 750,000,000 real-time consumer records in the Risk Verify Database - including unbanked (“thin file”) consumers not available with any other service.
  • Matches consumer names and provides known telephone numbers
  • Provides account history of prior transactions including both good/cleared transactions and returned/unpaid debits
  • Provides details like the age of the account and last date Risk Verification Database has seen activity on the account.

The Risk Verification Database dynamically updates consumer accounts with multiple daily input files from the user base. Each record is automated and tracked for timeliness and accuracy.

WHAT IT IS USED FOR:

Used by merchants to reduce costly returns for electronic check (e-check) or ACH transactions. Risk Verfification Database is effective for all ACH, electronic check and RDC transactions and can be accessed via API, batch processing or online interface.

Risk Veification Database reduces non-sufficient fund fees for customers while helping a business manage its portfolio risk. It is also critical to meeting the “know your customers” requirements mandated by banks in an ongoing processing relationship. 

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