Experian - Global Bank Account Validation, Verification and Payment Processing

Experian Payments provides global bank account validation, verification and payment processing solutions to meet the needs of the world’s leading banks and corporate organisations.

Our platform independent solutions help our customers make and collect payments easily while controlling costs, improving customer services and reducing risk and fraud.

Processing for international payments

The Single Euro Payments Area (SEPA) is designed to bring markets together and increase cross-border opportunities. By initiating successful, SEPA compliant, cross-border payments our solutions dramatically reduce error and rejection costs.

Experian’s data conversion service verifies the underlying bank account information and converts it to SEPA compliant BIC and IBAN format. Bank Wizard, our global bank account validation solution, reduces rejected payments by validating bank account details to SEPA standard at customer sign-up.

Streamlined payments process

Experian’s solutions reduce manual intervention to deliver streamlined payments processes that manage exceptions, lower staff costs and reduce exposure to risk and error.

Straight-through-processing of payments will be prevented if bank account details presented are incorrect, Bank Wizard makes sure you record account numbers and sort codes correctly so your payments are processed first time.

Experian Payments Gateway consolidates Bacstel-IP and faster payments to deliver them in the most streamlined and cost-effective manner.

Risk and fraud minimisation

Our solutions allow you to make fast, accurate decisions about customers whilst complying with best practice and legislation and managing your exposure to risk and fraud.

Bank Wizard validates bank account details before you’ve supplied goods or services, while Bank Wizard Absolute allows you to verify the link between your customers and their bank account information preventing direct debit and card holder not present fraud.

Customer acquisition and real-time conversion

Remove manual processes from the acquisition process to provide your customers with a smooth sign-up process, enhancing customer experience without exposing you to the risk of fraud. Make the link between your customer and their bank account to fulfil your 'know your customer' (KYC) requirements for AUDDIS, enabling payment processing by paperless direct debit.

Reduced payment processing

By ensuring that your payment data is correct and can be processed prior to submission, we can help you to reduce rejections and the time and cost associated with rectifying payment errors.

By virtually eliminating errors in your payments data and by consolidating all your back office payment submissions into one fast, secure file we can help you drive efficiency by submitting your mission critical, complex payments securely and cost effectively.

We can help you reduce the cost of your CHAPS payments by allowing you to manage both your faster payments and Bacstel-IP submissions through a single solution. Faster payments are a cheaper alternative to CHAPS but are irrevocable, by eliminating transaction errors and confirming account ownership before transmission we allow you to take advantage of lower cost payment mechanisms without increasing risk.

Contact Details

Swift Park
Old Leicester Road, Rugby
CV21 1DZ
United Kingdom
+44 1788 554 800
[email protected]

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