CertifID has added Accuity’s banking data to its identity platform for wire fraud prevention, the company announced.
CertifID said the addition of more than 22,000 American Bankers Association (ABA) routing numbers from Accuity enables its platform to identify and verify 100 percent of the financial institutions in the U.S.
“With the addition of Accuity data, we have enhanced our functionality by providing additional bank level details, CertifID co-founder and CEO Thomas Cronkright said in a release. “The ability to provide clarity into the necessity of a correspondent bank, for example, allows our customers to more accurately display wire account information and securely transmit that information to their customers.”
CertifID said the new data will be used to automatically verify that bank routing numbers and ABA routing numbers provided to buyers and sellers in a real estate transaction are the actual numbers of the financial institutions associated with the deal.
“Our solutions are designed to help customers make payments safely and accurately,” said Sarkis Akmakjian, Accuity’s senior director of product management for payments solutions. “We are pleased to see CertifID’s innovative approach in implementing our data solutions to bring additional transparency to payments and preventing wire fraud. We are delighted to be a trusted partner as they address this significant industry challenge.”