Amount partners with ValidiFI for optimised fraud detection solutions

Following this announcement, the process of integrating ValidiFI’s solutions with Amount’s SaaS platform will enable the partnership to provide financial institutions with more robust, secure, and cloud-first technology in order to optimise lending decisions. 

In addition, the deal will allow Amount to leverage ValidiFI’s comprehensive data network, which includes data from key bank sources that maximises coverage, for the overall validation and authentication of bank accounts. Both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. 

More information on the Amount x ValidiFI partnership

ValidiFI’s frictionless instant bank account validation was developed for both consumers and businesses, and it includes authentication of ownership with efficient fraud signals. According to the official press release, Amount is expected to leverage ValidiFI's extensive data resources in order to enhance the decision-making process for ACH payment enrollment and streamline bank account enrollment workflows. Together, the companies will focus on accelerating the process of enrolling more customer accounts in real-time while stopping scams, mule accounts, and fraudulent activities.

Furthermore, the collaboration will deliver optimised customer experience, more efficient and secure digital origination, as well as a significant competitive advantage in the fast-evolving financial sector. At the same time, ValidiFI’s expansive data network is expected to provide FIs with more accurate, real-time insights in order to improve their decision-making processes. The partnership will allow firms to leverage comprehensive data in order to optimise customer experience, as ValidiFI’s suite of solutions will provide reliable and secure data that aligns with Amount’s strategy to accelerate the development of financial institutions with improved technology.