Unified Software, pioneers of Software as a Service bank data and payments validation in the UK, has been awarded Accredited status for its popular BankVal UK product by the UK Payments Council.
BankVal UK has become one of the first sort code and account number validation systems to qualify as an Accredited product under the new Sort Code Validation Accreditation Scheme, operated by the Payments Council - the organisation that sets payment strategy in the UK.
BankVal UK is the first service to meet all of the mandatory and optional requirements of the scheme, fully satisfying the sort code and account number validation needs of any business wishing to process Bacs credits or Direct Debits.
The Sort Code Validation Accreditation Scheme has been introduced as a result of initiatives within the payments industry to improve the quality and accuracy of reference data and validation, thereby helping to ensure that electronic payments work first time.
George Barron, CTO at Unified Software comments: "We fully support this initiative by the Payments Council to drive improvement in the quality of sort code and account number validation products on the market. It is very important that customers are able to identify the best solutions available and can confidently use them within their business critical operations."