Through collaboration with seven of the largest financial institutions in the U.S.—Bank of America, Capital One, Chase, PNC Bank, Truist, U.S. Bank, and Wells Fargo—Authentify® provides consumers and businesses a new way to help verify identities.
WEB debit entries continue to increase in popularity and have historically been susceptible to fraud. To combat the rising criminal activity, the rule requires businesses to validate a consumer's bank account information when initiating an ACH debit transaction.
