How to Stay Ahead of Digital Payments Fraud with Socure Account Intelligence

Growing adoption of digital payments has increased both transaction convenience and exposure to fraud, with global merchant losses projected to surpass $343 billion between 2023 and 2027. Socure’s Account Intelligence (SAI) aims to help organizations assess bank account status, ownership, and payment-return risk in real time before ACH transactions or electronic disbursements, using only a name, account number, and routing number. Positioned as an alternative to credential-based verification and multi-day micro-deposit processes, SAI seeks to reduce customer abandonment while avoiding the collection of sensitive banking login information. Integrated with Socure’s ID+ fraud platform through a single API, the product supports compliance with Nacha’s WEB Debit validation requirements by confirming that accounts are open and able to receive ACH entries, while also verifying the named account owner. The service is intended for uses including account funding, government-benefit disbursements, bill payments, insurance payouts, merchant payments, and peer-to-peer transfers, with the stated goals of reducing fraud, returns, operating costs, and customer friction.

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