Hyphen Technology

Telephone numberCall us on:+27 (0)11 303 0400

FACS

The traditional web application for your FACS transactions.

Current portal

AVS, TradeQuest, File uploads and downloads.

industry leading verification service

Account Verification 
Service
New Services

Hyphen’s account holder verification takes the hassle out of confirming if accounts and account holders exist and ensures that payments are made to the correct beneficiary.

Account Verification Service

Confirms if there is a match between the bank account number and identity number of an account holder.

Fact Sheet

Services included in this solution

ensure your Client’s account details are correct

AVS 
Real-Time
New Service

Hyphen Real-time Account Verification Service allows for real-time verification of a bank account against an Identity Number for all real-time participant banks. The Real-time system allows for the submission of a single transaction for verification. The input from client can be achieved via direct API integration or by making use of the Hyphen Portal.

ensure your Client’s account details are correct

AVS 
Batch
New Service

Hyphen Batch Account Verification Service allows for Batch verification of a bank account against an Identity Number for all batch participant banks.The files can be uploaded via direct Host-to-Host integration or by making use of the Hyphen Portal.

Features

Account Verification Service

The Account Verification Service Real-time and Batch confirms if there is a match on:
  • the Account Number
  • the Identity Number or Company Registration number
  • the Surname or Company Name
  • the Account Type
  • the Email and Cell-phone number
and in addition to the above, the service can also confirm if:
  • the Bank Account is Valid
  • the Bank Account is Open and active
  • the Bank Account Accepts Credit and Debit
  • the Bank Account is Open for longer than 3 months

The Benefits

Account Verification Service

  • Mitigate risks associated with fraud, both financial and reputational
  • Shorten the time required to assess new business
  • Reduce costs by automating a process that is currently largely manual
  • Enhance the integrity of stored data
  • Reduce the risks of unpaids
  • Reduce query administration
  • Ensure legislative compliance

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