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Error-Free Payments: The Data Validation Tools Your Payment System Needs

As people are more reliant on digital banking tools than ever before and expectations are high for seamless payment processing, payment errors are the bane of financial departments and PSPs. Failed payments are costly, but they are avoidable. We explore the possibilities of an environment of error-free payments and the role of data validation tools.

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How to Improve Straight-Through Processing by Cleansing Reference Data

 
In today’s digital payment age and Open Banking era, consumers and businesses increasingly demand fast, simple and error-free payments. Financial institutions and PSPs know that ‘friction’ is a bad word when it comes to the payment process and they are very keen to improve straight-through processing. So, how can companies reduce payment errors and ensure that their payment process is seamless?

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FinTech Acquisitions: Mark Bradbury Talks to Fintech Finance about Accuity’s Acquisition of Apply Financial

 
Our Founder and CEO Mark Bradbury, a Fintech Finance video regular, joined Accuity’s David White on the first of Fintech Finance’s “Virtual Arena” video series, sparked by the current lockdown restrictions, to discuss Accuity’s recent acquisition of Apply Financial.

Check out the video and listen to the guests talk to FF’s Ali Paterson about how the FinTech acquisition came about, what the key reasons were for the move and what it means for the industry. Plus, our blog contains the key takeaways from this intriguing interview.

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How Validate Data Manager Helps Businesses to Comply with Payment Services Regulations

 
In today’s modern payments space and Open Banking era, businesses need to ensure that they remain compliant with new payment services regulations. The new Directive on payment services (PSD2) was introduced to standardise communication between banks and third-party service providers (PISPs and AISP) while harmonising and bolstering the authentication process.

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From Legacy To Lean: 3 Things You Need To Add To Your Payment System

 

The payment or transaction page is the most important interaction many businesses can have with their customers. It might be their only interaction, but it might also be the start of a long relationship, and this can depend on how easy and secure the payment process is.

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7 Features A Payment Validation Service Just Has To Have

 

Each failed payment processed through a business could cost £50 in charges, time spent fixing the error, resending costs, and exchange rate fluctuations. When looking for a solution, it’s important to make sure the data gathered and checked is as comprehensive and up to date as it can be to avoid any errors.

In total, Validate has saved over £125 million in operational costs for our clients and they’ve never lost a payment.

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