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Bottomline launches new Bank Account Verification Solution to cut costs of customer acquisition and

Bottomline Technologies launched V-Series on 4 April, its new technology platform for real-time validation and verification of UK bank accounts. V-Series enables organisations to combat the threats of failed and fraudulent transactions that are currently costing them significant losses.

The V-series software validates bank account and sort code details to ensure an account should exist, should be open and can accept automated payments. It also verifies accounts confirming that an account definitely exists, is open and bears a living account holder's name, address and date of birth. Both validation and verification can be checked simultaneously at the point of data capture to enable real-time decision-making. This enables businesses to identify and correct anomalies at the beginning of customer acquisition, before the cost of retrospectively correcting errors spirals upwards, and customer service suffers.

V-Series service can be integrated into the client's online or onsite systems, used as an on-line web-based service or as a desktop or on-premise service.

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