The new solution will enable organizations to identify when a prospective customer is providing false or incorrect bank account details for automated payments.
The system combines information from Experian with the Bank Wizard software from Eiger Systems, a developer of strategic payment solutions. This combination enables organizations to validate customers’ payment details at the time of application and when setting up regular or one-off payments to or from their customers, to ensure that payment details are absolutely correct at the time the transaction is set up.