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WHAT IS BANK VALIDATION?

 

Bank Validation is a first-class solution that allows you to verify sort codes and account numbers, capture accurate bank details, and enhance your data in real time.

From payroll to online websites, our advanced technology has proven to deliver a smooth, seamless experience for both customers and employees; reducing payment errors, minimising fraud, boosting staff morale and driving conversions.

And so as the volume of online banking transactions increases rapidly, so does the need for our next-generation bank account validation. Despite this, it’s still a tool that’s often overlooked by businesses worldwide.

That’s why we’ve decided to narrow down the expansive list of advantages into 5 core benefits.

 

5 Benefits to using Bank Validation

 

  1. REDUCE FRAUD FISK

By validating your customer’s bank account number and sort code at point of entry, you’ll reduce the risk of capturing bogus data, processing erroneous payments and being victim to fraud.

  1. ENHANCED BUSINESS INSIGHTS

From a customer’s sort code and account number, our advanced technology instantly generates a powerful insight into their branch details and supported transactions. That way, you can foresee whether the customer is able to offer direct debit and credit card payments prior to processing the transaction.

  1. INCREASED CONVERSIONS 

By verifying bank details in real time, you’ll remove any unnecessary administration fees, bank charges and other operational costs incurred by re-processing failed payments. Not to mention, you’ll guarantee successful payments first time round, reducing payment errors and increasing conversions.

  1. EMPLOYEE SATISFACTION

By checking your employee’s bank details and IBAN at point of entry or updation, you’ll reduce the risk of potential payroll mistakes, eliminating delays in salary payment and avoiding staff dissatisfaction.

  1. IMPROVED BRAND REPUTATION

By capturing valid bank data and eliminating failed payments in real time, you’ll ensure a smooth, seamless customer experience; providing faster, hassle-free checkouts and delivering the required products and services without delays or disruption.

 

Bank Validation Features

 

Sort code and account number checker

At the same time you enter your bank details, our sort code and account number checker simultaneously verifies if the data is accurate, active and genuine. By instantly highlighting any invalid fields in red, you’ll prompt your customers to correct their details at point of data entry, ensuring successful, seamless transactions first time.

IBAN checker

Our IBAN checker instantaneously carries out all appropriate IBAN (International Bank Account Number) checks. By instantly presenting the country code and BBAN country format, as well as highlighting any errors in the data, you’ll ensure a smooth experience for both your customers and employees; reducing failed payments, avoiding payroll mistakes, and eliminating costly administrative tasks.  

Auto-completion of bank details

As you enter the sort code and account number, our auto-completion technology instantly populates an array of useful data using our market-leading data sources. By generating information such as their bank name, branch address, BIC, and supported transactions – including Direct Debit, Direct Credit and CHAPs – you’ll gain valuable insight into whether it’s genuine and what payments they can make before it’s processed.

Peaked your interest?

To learn more about how we can help you build confidence in your data, you can message our experts via our live chat, call us, or even schedule a call back.

Alternatively, you can discover the boundless benefits for yourself by either signing up for a free 30 day trial, or organising a bespoke demo for a time and date that suits you.

Verify a Bank Account

Enter a sort code and an account number and click "Check" to find out whether it's valid

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About the author

Sophie Evans

Sophie Evans

Sophie looks after all the Digital Content at data8 

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