Advanced Fraud Solutions, a real-time anti-fraud solution developer, has been recognised as a preferred partner of Nacha, which governs the ACH Network.
ACH Network is a payment system that drives safe, smart and fast direct deposits and direct payments.
This announcement means Nacha recognises Advanced Fraud Solutions’ products and services on the network.
Advanced Fraud Solutions VP of strategic partnerships Ted Kirk said, “To address compliance and help financial institutions move money safely across the ACH Network, Advanced Fraud Solutions launched TrueACH® with Account Validation – a new ACH tool that enables financial institutions to confirm account status and authorized user(s).
“We are honoured to be recognized by Nacha for this solution and as a Preferred Partner.”
Advanced Fraud Solutions is used by over 750 banks and credit unions across the US. It claims to be a leader in payment fraud detection, boasting the industry’s largest deposit fraud database with over 10 years of account-level historical data from thousands of contributing financial institutions, processors and third-parties.
Speaking on the announcement, Nacha president and CEO Jane Larimer said, “The ACH Network is essential for making sure individuals and businesses can send and receive payments quickly and safely. We are happy to welcome Advanced Fraud Solutions as our newest Nacha Preferred Partner to support a fast and reliable ACH Network.”
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