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Payment Verifications
MX enables financial providers to quickly verify financial data including direct deposit account information, account balances, and account owners to ensure a smoother experience for consumers and help mitigate risk. Help protect consumers from fraud and mitigate risk for your business with instant account verifications (IAV), account owner verifications, balance checks, and more.
Why Fast, Secure Payment Verifications Matter
How MX Helps
Validate bank accounts and other financial accounts in less than 5 seconds with the latest security standards through direct OAuth connections, eliminating reliance on microdeposits
Confirm account and routing information instantly with token-based connections that avoid human error and ensure credentials are never shared
Connect to financial accounts and pre-validate account balances in seconds for seamless payments without the associated fees of credit cards and other methods
Leverage token-based APIs between MX and payment processors for more flexible and secure data sharing to fuel money movement and more
Mitigate ACH payment returns and protect against NSF and overdraft fees by having a clear view into available funds to make a payment or transfer
Improve the money movement experience by eliminating a reliance on microdeposits to verify an account and instantly check account balances before a payment is processed
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Explore Solutions
MX provides fast, reliable verification technologies to help organizations better manage risk, protect against cyberattacks, and maintain compliance. MX reduces your reliance on manual verification processes with instant account verifications (IAV) and account owner identification.
MX helps financial institutions and fintechs verify account balances quickly to streamline processes, reduce risk, and deliver a better customer experience.
MX offers a secure, open finance Data Access API platform built on FDX standards that improves the data sharing experience and enables financial institutions to better monitor and manage where data is shared.
Account and Owner Verifications
Rapid Balance Checks
Data Access that Drives Results
Learn More about the Benefits of Instant Account Verification
Leading Companies and Partners Build with MX
- References:
- 1. Identity Fraud Losses Total $52 Billion in 2021, Impacting 42 Million U.S. Adults
- 2. With inflation stubbornly high, 58% of Americans are living paycheck to paycheck: CNBC survey
- 3. What Is Instant Account Verification? What to Know and Key Benefits
- 4. Based on average of hundreds of U.S. financial institutions
- 5. Personal Finance Statistics Compare your finances to financial statistics for the average American household to see how you stack up...
- 6. Credit union fraud rates increased by more than 70% in 2022
