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Third party ACH verification
October 12, 2022
Q. Do you use a third-party to verify ACH information for vendors? If so who do you use and are you happy with them?
A.
(Answered by the IOFM Advisory Panel)
Before I retired, I was the implementation manager for a bank that partners with FIS - Integrated Payables platform.
As an example, that platform partners with GIACT (you can look them up,) an aggregator of data from most of the larger and mid-sized banks, to validate ACH information: Once the vendor supplies their data via the vendor…
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