Account Validation Services

The Vendor is required to provide to use account validation services (AVS) to assure that payments of state funds are made to valid payee bank accounts.
- Provide to Agencies, as the payee’s self-attested bank account information, is accurate, correct, valid, and matches the identity of the bank account owner/authorized signatory of the direct deposit bank account information provided (to include verification of pre-paid cards to the extent applicable).
- The provider’s solution shall include identity verification services that use additional details about the individual requesting the bank account addition or change to identify potentially fraudulent actors.
- The solution shall allow for validation checks to be processed individually, by batch, or through an API connection to the commonwealth sap instance.
- The solution shall have the ability to validate a bank account and bank account ownership.
- The solution should allow for users to select which validation check(s) to be performed based on business needs associated with that account.
- The solution shall provide access to transactional reporting for use in verifying the accuracy of invoices submitted for payment.
- The offeror may provide any additional, optional verification services available.
•    Account Verification – verifies the status and existence of a bank account
•    Ownership Verification – verifies the ownership of a bank account
•    Identity Verification – verifies the identity of the individual or business
•    Other Verification - other available verification services available.

- Contract Period/Term: 1 year