PNC to equip commercial clients with Giact’s ID verification tech
ID authentication and verification tech provider Giact Systems and US-based PNC Bank say they have formed a “strategic alliance”.
PNC will implement Giact’s verification and authentication technology for its commercial clients – so they are “armed with real-time fraud prevention tools to confirm an account is open, active and in good standing prior to initiating a payment”, the vendor says.
“Our new offering will enable clients to validate transactions by running a single inquiry that covers more than four billion consumer and business records – verifying bank account status in real time and allowing businesses to transact with confidence,” says Chris Ward, EVP and head of product, PNC Treasury Management.
Giact adds that PNC’s clients “will gain access to the largest network of identity verification and authentication services available, accessible via a single API”.
Giact was founded in 2004 and is based in Texas. It offers tech for OFAC screening, ID verification, account verification and authentication, and mobile verification solutions. The company says it has processed billions of transactions for more than 1,000 customers to date, including in the retail, insurance and banking sectors.