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What is Equifax Account Verification?

Account Verification plays a vital role for businesses aiming to minimize risks by ensuring that payment methods like bank accounts or credit cards are correctly associated with the consumer’s personal identifiable information. This procedure not only verifies the identity of the consumer but also guarantees that the payment method is both legitimate and properly linked to that person, which assists businesses in identifying fraudulent activities during transactions. Moreover, it helps confirm that the commercial bank account details provided by a business are accurate and genuinely related to that entity. By implementing this verification service, companies can strategically reduce risks associated with consumer identity verification tied to account numbers. This is especially important when assessing the risks linked to new account openings, loan applications, and the safety of regular online bill payments and recent purchases. Additionally, businesses can accept credit card or bank account payments for large transactions, such as vehicle down payments, with less worry about chargebacks from online purchases. As a result, this verification process significantly decreases payment-related risks associated with recurring monthly premiums and insurance claim deductibles, enhancing a secure financial atmosphere for both businesses and consumers. Ultimately, the implementation of Account Verification not only protects businesses but also builds trust among consumers in their financial transactions.

What is Berbix?

Berbix provides a quick and precise identity verification solution that enables businesses to enhance their growth while ensuring compliance by validating various forms of identification like photo IDs, driver's licenses, and passports. The process of verifying an individual's identity can be streamlined, eliminating unnecessary overhead costs and facilitating more customer transactions. With Berbix’s automated document identity verification (IDV) system, user identities can be confirmed in real time, allowing for increased conversion rates while simultaneously reducing the risk of fraud. This fully automated technology leverages machine learning, eliminating the need for human intervention in the verification process. Founded in 2018 in San Francisco by ex-members of Airbnb's Trust and Safety team, Eric Levine and Steve Kirkham, Berbix aims to revolutionize how identity verification is conducted in various sectors. The innovation behind Berbix not only enhances security but also boosts operational efficiency for its users.

Media

Media

Integrations Supported

Alloy
Auth0
CREDITONLINE
Cloudsquare Credit
RegTechONE

Integrations Supported

Alloy
Auth0
CREDITONLINE
Cloudsquare Credit
RegTechONE

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

$99 per month
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Equifax

Company Location

United States

Company Website

www.equifax.com/business/product/account-verification/

Company Facts

Organization Name

Berbix

Date Founded

2018

Company Location

United States

Company Website

www.berbix.com

Categories and Features

Categories and Features

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