WHAT IT IS:

Pre-screen ACH and eCheck debits before they occur to protect your business from fraudulent payments, administrative and unauthorized returns.

WHAT IT DOES:

Leveraging MicroBilt’s database of over 800 million real-time consumer records -including unbanked (“thin file”) consumers that no other database has. The Risk Verification Database (rVd) tracks and reports:

  • Matches consumer names and provides known telephone numbers
  • Provides account history of prior transactions
  • Identifies closed, pending-closed and frozen bank accounts
  • Predicts administrative and unauthorized returns and identifies them before they occur

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:

The Risk Verification Database report is used by Financial Institutions, ACH processors and Remote Deposit customers, online and offline retailers, finance companies and debt buying companies to safeguard themselves from returns of all categories including fraud and ‘fatal’ returns. It is effective for all ACH, eCheck and RDC transactions and can be accessed via API, Batch or online interface.

rVd also reduces Not Sufficient Fund fees for customers while helping a business manage its portfolio risk and is critical to meeting the “know your customers” requirements mandated by banks in an ongoing processing relationship.  rVd targets unauthorized and administrative return codes and allows our customers to accept more payments while reducing “fatal” returns.

Use rVd to manage your ACH returns to within NACHA’s regulation limits and secure your bank relationships.

Customized Solution

Have one of our business service consultants contact you.