HERNDON, Va.–NACHA has named Early Warning as its Preferred Partner for account validation services. NACHA’s Preferred Partner Program identifies leading providers and innovators that work with NACHA to better advocate for and educate the industry on technology and best practices in support of the ACH Network and ACH payments. Account validation is one of NACHA’s strategic initiatives aimed at helping to increase adoption of electronic payments and improve the quality of payments, the organization said.
“NACHA is committed to serving as a trusted and expert industry resource for education and solutions in support of the ACH Network and ACH payments,” said Janet O. Estep, president and CEO of NACHA. “Our Preferred Partner Program enables us to provide information and guidance around the innovative services and products that are facilitating the increased use of electronic payments. We are pleased to partner with Early Warning, as their innovative solutions around batch and real-time account validation will increase awareness of the significance of account validation and ultimately grow adoption.”
According to NACHA, Early Warning offers the industry a solution that validates the accuracy of the account information received from a consumer or business. Early Warning’s real-time Payment Chek Service with Account Owner Authentication leverages the National Shared Database Resource, the industry’s most current and accurate source of collaborative financial data, to authenticate Demand Deposit Account (DDA) ownership, account signatory and account status. Now, merchants and billers can mitigate insufficient funds, reduce administrative and unauthorized ACH returns and account takeover fraud while reducing costs and better enabling a positive experience for both consumers and businesses.