Bank Data Game-Changer: Accelitas Patents Process To Optimize ACH Processing

(MENAFN- PR Newswire) A fintech leader in machine learning and predictive analytics, Accelitas' mathematical model can decipher how U.S. financial institutions format and structure their accounts. The breakthrough allows Ai Validate Bank Data to immediately filter erroneous bank account entries, including "fat finger" errors, that for many make up the majority of their ACH payment returns. Accelitas Ai Validate BD delivers a 100% hit rate across all U.S. accounts, unmatched in the industry.

"It's the Holy Grail for ACH transactions, literally breaking the code to optimize that critical first layer of the validation process," explains Greg Cote, Accelitas CEO. "We wanted to get rid of the guesswork, not just for one banking system but across the financial landscape. In the process we reduce consumer frustration and downstream costs for the client, delivering a simple and powerful tool for improving their online business."

Today Ai Validate Bank Data helps optimize workflows that can include ACH on-boarding, pre-payment validations, pre and post consortium database validations, pre-micro-deposit validations, or simply offering an alternative to online banking validation services. Accelitas is a Nacha Preferred Partner.

Other Accelitas bank account validation products include Ai Validate BAV, which adds unique data sources tuned for higher value/higher risk ACH transactions, and Ai Validate BAV|FCRA, providing real-time consumer behavioral data that can be used for Adverse Action purposes.

Accelitas is a Nacha Preferred Partner.

About Accelitas ( )
Accelitas® is reimagining financial access through the transformative power of data. Our machine learning predictive analytics and alternative data sources deliver fast, fair, and frictionless ways to help companies achieve business growth and financial inclusion. Powered by the real-time web services of its Accelerated Insight® Platform, the company provides innovative ways to seamlessly screen leads, validate accounts, and accept more creditworthy borrowers. The company is headquartered in Petaluma, Calif.

Accelitas is a trademark and Accelerated Insight is a registered trademark of Accelitas, Inc. All other trademarks are property of their respective holders.

SOURCE Accelitas

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