Streamlining Account Verification & Compliance for Banks & Credit Unions
In an increasingly digital world, the banking and credit union industry faces the challenge of ensuring secure and efficient account verification, bank account ownership verification, and routing number verification. Lyons Commercial Data, a leading provider of data verification tools since 1989, offers integrated solutions to address these challenges, enhancing financial institutions’ due diligence and […]
The Need For Reliable Routing Number Verification
In the complex landscape of financial transactions, one element often remains overlooked until its absence causes a disruption: the routing number. Instituted by the American Bankers Association in 1910, these nine-digit ABA numbers hold paramount importance in identifying financial institutions. Their functionality extends to enabling seamless and efficient processing of funds among financial institutions by […]
The Crucial Role of Bank Routing Number Verification
In the world of banking and financial transactions, accuracy and security are paramount. One vital aspect of ensuring seamless and error-free transfers is the verification of bank routing numbers. These numbers serve as unique identifiers for financial institutions and play a significant role in facilitating secure and efficient fund transfers. In this blog post, we […]
Unraveling Payroll Fraud: Protecting Your Business and Employees
In the corporate world, payroll fraud is an unfortunate reality that can have devastating consequences for both businesses and employees. It involves the deliberate manipulation or misappropriation of payroll processes for personal gain. Payroll fraud can occur in various forms, ranging from ghost employees and inflated hours to unauthorized changes in salary or benefits. […]
OFAC Verifications: Protect Your Business
Sanction compliance is essential for any business that deals with currency or financial transactions. One of the most important regulations is the Office of Foreign Assets Control (OFAC), which govern financial transactions involving individuals and organizations from countries that are subject to sanctions and embargoes. To help businesses stay compliant with OFAC regulations, Lyons […]
Visit Us At The Nacha Smarter Faster Payments 2023 Conference
Our team at Lyons Commercial Data has announced our attendance at the Nacha Smarter Faster Payments 2023 conference in Las Vegas from April 16-19, 2023. As a Nacha Preferred Partner, we will showcase our suite of financial institution data solutions at the conference, including our financial institution account verification and routing number lookup tools. The […]
How Bank Account Ownership Authentication Combat Online Fraud & Identity Theft
In today’s digital age, online fraud and identity theft have become increasingly common. This has made it more important than ever for companies to verify the bank accounts of their customers to prevent fraudulent activities. This is where bank account verification services come in. Bank account verification services play a critical role in combating online […]
Bank Account Verification Service: 4 Tips for Selecting the Right Service
This blog will talk about selecting the best bank account verification service. Although sometimes it may seem that all account verification solutions and companies are the same, they are not for various reasons. Below, we’ll outline what types of things your business should look for when selecting a bank account verification service. What is Bank […]
NACHA 2021 Rule Change – What You Need to Know to Be Ready
On March 19, 2021, the new NACHA 2021 rule change must be implemented by merchants accepting ACH payments via the web. This article will detail why, what, and what methodologies merchants can use to be NACHA Compliant on March 19, 2021.
U.S. War on COVID-19 Fraud
COVID-19 (Coronavirus) fraud has been a growing concern to both government and business. New fraud tactics have targeted unemployment and COVID-19 economic relief funds. Find out the challenges of the U.S. War on COVID-19 fraud and how organizations can protect themselves.