ValidiFI, Inc., a provider of predictive bank account and payment intelligence, and J.P. Morgan Payments today have announced a collaboration aimed at helping businesses across various industries validate bank accounts and conduct transactions with enhanced confidence and security.
For organizations conducting digital transactions on the ACH network, having a reliable bank account verification service is essential in order to mitigate risk and help detect fraudulent transactions. By integrating J.P. Morgan Payments' Validation Services into its powerful network, ValidiFI is now positioned to provide customers with expanded coverage and bank account insights through its vAccount+ solution. This collaboration helps ensure transaction security, empowering organizations to operate with greater confidence in their financial processes. The combined strength of ValidiFI's network and J.P. Morgan Payments' Validation Services delivers a solution that helps with reducing risk and optimizing digital transactions.
"This will significantly enhance bank account coverage and the accuracy of real-time bank account validation."
J.P. Morgan Payments' Validation Services offers a suite of account and identity verification solutions, focused on helping to reduce fraud and financial crime at every stage of the commerce cycle, including account takeover, synthetic identity and business email compromise. With a suite of AI-powered Trust & Safety solutions, including Validation Services, J.P. Morgan Payments enables clients to send and receive payments with greater accuracy and security.
"We're excited to integrate J.P. Morgan Payments' Validation Services solutions into our bank account and payment intelligence platform. This will significantly enhance bank account coverage and the accuracy of real-time bank account validation to increase auto-approvals, reduce returns and payment issues, and accelerate business growth." says John Gordon, CEO of ValidiFI.
"Fraud prevention continues to be a top priority across the industry, and we're committed to leverage technology along with our trusted network to help clients mitigate fraudulent activities," says Ryan Schmiedl, head of Embedded Payments & Trust & Safety at J.P. Morgan Payments. "Collaborating with ValidiFI is another way we're empowering clients through friction-free and highly reliable account validation capabilities to counter fraud and help protect their business."
J.P. Morgan Payments combines treasury services, trade & working capital, card and merchant services capabilities to help clients pay customers or employees, in different currencies, around the world. It processes nearly $10 trillion payments daily, opera ting in over 160 countries and over 120 currencies.