What we do
Our Validate suite of tools enables any payment platform to be able to check beneficiary details at point of entry so as to avoid human input errors and also check for any bank data changes. Validate also does a thorough check of other requirements such as in-country clearing rules, purpose of payment codes, additional information required and holiday dates.
All this can be delivered for both single real-time payment entry and bulk payment files. Validate can also give realtime information on payment validation by country, currency, user and also error input to give our clients the tools to fine tune their payment processes and improve their STP rates.
How we do it
Validate is a cloud-based solution that holds a comprehensive set of global banking reference data that is sourced only from official sources and is updated every day. In addition, all the payment rules country by country and bank by bank are stored and kept up to date in our cloud repository.
We have then fully integrated the data and rules into a comprehensive set of functions that turn payment screen and system into an intelligent solution for validating beneficiary details and enriching these details to help make sure a payment will STP without any internal manual intervention.
This helps significantly lower operational costs whilst enhancing the customer experience.