Question: Do you know of a service that can authenticate EFT/ACH transactions more reliably and eliminate manual verification for payment services?

If you're looking for a service to authenticate EFT/ACH transactions more reliably and eliminate manual verification for payment services, Vesta is a strong contender. Vesta's fraud prevention platform uses advanced risk scoring, machine learning, and artificial intelligence to make accurate real-time decisions about transactions, maximizing revenue by approving more transactions and eliminating fraud. The platform offers tools to monitor transaction scores and decisions, track approval rates, and manage chargebacks, making it suitable for eCommerce retailers, telcos, travel and hospitality companies, financial services providers, and more.

Another excellent option is Ekata, which specializes in global customer identity verification and fraud prevention for payments, eCommerce, and financial services. Ekata uses machine learning insights to verify customer identities, inform AML risk assessments, and optimize manual review queues, thus helping businesses onboard new customers with confidence and prevent fraudulent activities. With tools like Identity Review 360 and Transaction Risk API, Ekata can help you prevent fake account creation, payment authentication, and transaction fraud, improving the customer experience and unlocking revenue potential.

For a comprehensive solution that connects financial data to various apps and services, consider Plaid. Plaid offers features like payment initiation, real-time balance verification, and identity verification. It supports a variety of financial use cases, including personal finances, business finances, lending, and banking & wealth, providing global coverage in Europe and North America. Plaid's APIs are designed for easy integration, making it a powerful tool for fintech companies aiming to enhance the payment experience for consumers and businesses.

Wibmo is another solid choice for secure payment solutions, offering fraud prevention and authentication. With over 3 billion transactions processed annually, Wibmo works with 160+ banks and fintechs in 30 countries. Its suite of products includes machine learning-based fraud detection, multi-factor payment authentication, and paperless customer onboarding. Wibmo's solutions help financial institutions accelerate go-to-market strategies, lower costs, and drive innovation, making it a reliable partner for secure and efficient payment processing.