ALPHARETTA, Ga. –ValidiFI, a provider of predictive bank account and payment intelligence, said it has partnered with Velera to bring its vAccount solution to Velera’s credit union clients. 

“This collaboration provides Velera’s credit unions with powerful tools to optimize the member onboarding and application processes,” the company said in a statement.

It added that benefits include real-time bank account validation, improved efficiency, enhanced fraud prevention and a seamless experience for end consumers.

Eliminating Manual Processes

“Velera is excited to introduce real-time account validation functionality to our clients,” Cody Banks, SVP-product experience & enablement at Velera, said in a statement. “This solution will help eliminate manual processes and further mitigate fraud risk, enabling credit unions to deliver an enhanced member onboarding experience.”

‘Reducing Risk’

Added ValidiFI CEO John Gordon in a statement, “We’re thrilled to partner with Velera to provide their credit unions with real-time bank account validation to better identify fraudulent accounts and reduce the risk of payment failures and ACH returns. Powered by our predictive bank account and payment intelligence, Velera is helping credit unions meet Nacha Operating and WEB Debit rules, while significantly reducing the time between account setup and transaction initiation to provide a more seamless member experience.”