J.P. Morgan Payments has teamed up with ValidiFI, Inc. to bolster the security and reliability of digital transactions through enhanced bank account verification. ValidiFI’s vAccount+ solution now integrates J.P. Morgan Payments’ Validation Services, providing businesses with predictive bank account insights and a robust toolset to authenticate accounts in real time. This collaboration aims to improve security across the ACH network, reducing risk and minimizing fraud.
Enhancing Security with Real-Time Verification
J.P. Morgan’s Validation Services suite addresses challenges in payment verification, such as account takeover, synthetic identity fraud, and business email compromise. By combining these solutions with ValidiFI’s platform, businesses benefit from reliable, frictionless account validation, minimizing returns, payment issues, and optimizing digital transaction efficiency.
John Gordon, CEO of ValidiFI, notes, “Integrating J.P. Morgan Payments’ Validation Services allows us to deliver real-time bank account validation, boosting coverage and accuracy, which will ultimately reduce payment risks and accelerate growth.”
A Strategic Approach to Fraud Prevention
With a comprehensive AI-powered Trust & Safety portfolio, J.P. Morgan Payments empowers clients to transact with confidence. Ryan Schmiedl, Head of Embedded Payments & Trust & Safety at J.P. Morgan Payments, emphasizes, “Our commitment to fraud prevention drives us to continually enhance our technologies. Partnering with ValidiFI is a step towards providing seamless, reliable account validation solutions for our clients.”
Processing nearly $10 trillion daily, J.P. Morgan Payments spans 160 countries, supporting diverse currencies. This collaboration with ValidiFI represents another stride in securing and streamlining the global payments landscape.