Data quality solutions provider Data8Ã‚Â hasÃ‚Â announced the release of a new bank validation application for the most recent version of Salesforce. The tool checks that bank account details are valid at point of capture, which minimises the reprocessing of payments.
When it comes to managing bank details, mistakes can be costly. If invalid bank details go undetected to the point of extracting payment and the payment fails, it costs the business Ã‚Â£35 on average to reprocess a single payment. The costs in both time and resource are high for simple mistakes or bogus registrations.
The new application validates bank account numbers and sort codes. If the account details are valid, further banking details such as bank name and address will be shown, and if they are invalid they will be highlighted so the correct details can be requested.
The simple tool contributes to creating a positive customer experience. If a customer is due a payment and invalid account details causes their payment to be late, they will understandably be displeased. Using the tool enables the business to avoid causing a customer displeasure by providing their payment on time.
This forms part of the Validate suite of services in Salesforce, which also provides email, address, mobile and landline validation.
Ã¢â‚¬Å“The bank validation tool is an excellent addition to Data8Ã¢â‚¬â„¢s Validate app in Salesforce, which makes accurate data capture quick and easy. Validating bank account details at point of capture reduces reprocessing of payments and ensures a smooth payment process for the customerÃ¢â‚¬Â Ã¢â‚¬â€œ Mark Carrington, Chief Technologist.