Bank Account Verification (BAV)
The key to a successful and streamlined customer acquisition and management process is to ensure that the bank account details provided by your customer are correct. You can only achieve this by validating bank details at point of application. Failure to validate bank account details can result in possible default or rejected payments that can have a direct impact on administration costs and customer service. With Experian’s Bank Account Verification (BAV) solution you can minimise the risk of payment rejection, reduce processing costs and highlight possible fraud by verifying bank account details prior to accepting a debit order application.
Key features
Reduce rejections in payments processing
Ensure bank account details are correct and can be processed prior to debit order payment acceptance.
Access to bank information from all major South African Banks
Reduce processing costs
Reduce the time and cost associated with rectifying payment errors.
Highlight possible fraudulent behaviour
Make use of Experian’s Detect fraud indicator to minimise fraudulent behaviour.
Improve customer service
Prevent payment errors up-front and prevent any inconvenience to your customer.
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