Knowledge is Money.

If you’re not monitoring your BAV performance you’re missing the big picture. And bigger opportunity.

 

Everybody knows the importance of account validation in today’s instant transaction ecosystem. It even comes with a mandate: the Nacha WEB debit account validation rule. 

Make sure your BAV solution is Nacha compliant, and you’re good
to go. 

But compliance shouldn’t be confused with performance. Adhering to the Nacha rule is incredibly important (and of course, mandatory) but it’s just one piece of the BAV puzzle. Your account validation solution will determine the friction level and user experience of every digital transaction and confirm or reject the customers needed to grow your business. 

And the fact is, most companies don’t measure their BAV performance. At all. 

They don’t know how those risk management outcomes are turning out. They’re not tracking their return on investment. And they’re unaware of the opportunities a more robust account validation solution could provide them. 

That’s why we’ve taken account validation Beyond Compliance

As a Nacha Preferred Partner for Bank Account Validation, Accelitas goes beyond compliance, leveraging unique sources of real-time transactional data, advanced behavioral analytics, and unsurpassed U.S. bank coverage to create seamless and strategic BAV solutions. 

• Custom-tailored BAV to fit each business

  • Not only is each business different, the landscape itself is constantly evolving. Accelitas considers that an opportunity. We’ve developed BAV models that can be tailored to each company’s business risk levels and tuned to the market conditions.  

• Unmatched coverage means less friction

  • Coverage is key and Accelitas BAV services offer an industry-leading 98% non-credentialed account coverage, providing an economical way to reduce the incidence of successful fraud attempts without impacting the customer experience. 

• Closed-loop testing and measurement

  • If you’re not measuring something, it will be very hard to improve it. Implementing a continuous feedback loop ensures optimized modeling, scoring, and decision making.  

Bottom line: what you don’t know could be costing you.  

Today’s businesses need to evaluate their current account validation solutions. If they aren’t adding up, Accelitas can help, offering a robust sandbox environment as well as no-cost data testing to demonstrate our BAV performance.

Lenders seek profit. But are they missing the obvious approach?

Rethinking First Payment Default: The New Era of Predictive Analytics in Non-Bank Lending

For non-bank lenders, it’s been the go-to benchmark for years: First Payment Default (FPD).  And for years it made sense. If you based your decision on which applicants are likely to be late making their first payment on a loan, you could assume you’d predict which applicants are likely to default on the entire loan. That’s how you lose money, and that’s what predictive analytics are designed to avoid. 

But the marketplace has changed. So have predictive analytics. 

An analysis of financial results at multiple non-bank lenders shows that FPD actually predicts account loss only about 50% of the time. That means that when it comes to predicting whether a loan will be profitable, FPD turns out to be no more predictive than a coin toss. 

Meanwhile, 26% of accounts that incurred an FPD turned out to be profitable.

No matter how you flip the coin, that’s money left on the table. 

Why not predict profitability?

Like we said, it’s a changing marketplace. Millions of thin-file, no-file, and non-traditional consumers are virtually invisible to conventional scoring methods, and many of those represent perfectly profitable accounts that you may be overlooking. 

That’s where good fintech comes in. With unique expertise in Ai-powered predictive analytics, alternative data, and real-time automation, Accelitas provides financial inclusion for non-traditional consumers, while giving lenders a safe way to access the new world of creditworthy customers.

Trade first impressions for lasting customers

With all due respect to First Payment Defaults, first impressions don’t tell the whole story. Given the right tools and the bigger picture, you have a much easier way to make smarter credit decisions. Leading to more profitable accounts. Which, after all, is the ultimate goal of your business.  

Ready to work together? 

It gets even smarter when you work with a partner. Accelitas enjoys nothing better than developing optimized, customized, and fine-tuned solutions for your business.