Risk Verification Database Basic
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.
It is the fastest growing ACH verification service in the industry. Only four (4) years old, we recently surpassed One Billion records in the rVd database. rVd is a shared service in which users share their historical ACH records with the goal of making the ACH industry safer for all processors, gateways, merchants, online users and mobile wallets. The projectile growth of rVd is credited with the accuracy in our responses in real-time and our vast knowledge of consumer validation in the alternative finance space. Recent enhancements include OFAC processing and Account Structure Scoring.
WHAT IT DOES:
Risk Verification Database Basic:
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 Verification Database is effective for all ACH, electronic check and RDC transactions and can be accessed via API, batch processing or online interface.
Risk Verification 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.
Get a solution customized to your needs
Have one of our business service consultants contact you.
PRBCnow you can
Life’s Free Alternative Credit Score.
Use the bills you pay to establish the credit score you need.Read More