A secure, automated network that connects the United States banking community with any federal or state government agency enabling the verification of applicants' financial assets.
As a uniquely trusted authority within the U.S. banking community, Accuity has been successful in garnering the comprehensive participation of the financial institution community across the United States. As part of the ABA Registrar role, financial institutions are required to notify Accuity of changes to their operation structures prior to their implementation. These notifications drive the exclusive reporting pipeline that enables tracking of the constantly changing dynamics of the banking industry and the accuracy of our verification message routing system.
Having operated our AVS solution at the Federal government level since 2003, Accuity is experienced in creating and implementing solutions that streamline the eligibility determination process and drive savings through reduction of improper benefit payments. Accuity’s AVS solution has a proven track record of efficiency, cost savings and return on investment producing the following successful results:
- Overall financial institution response rate of 96%
- Average financial institution response time of 7 days
- A 100% reduction in paper flow to and from the government agency
- Estimated annual savings in excess of $900 million dollars from a decline in improper payments
- Estimated Return on Investment in excess of 400%
Accuity's Asset Verification Solution has potential benefits for a myriad of government benefit programs. It has proven to be an effective stewardship tool for eliminating the costs of improper benefit payments. Whether assisting other government programs or providing the secure infrastructure to connect the government sector to the financial institution community, Accuity stands ready to combine its unique position as the preeminent source for financial institution information with a proven ability to facilitate the flow of information between the financial institution community and the government sector.
- Unparalleled Database – A proprietary network of more than 5,700 financial institution head offices unmatched by any other entity in banking, government or the private sector enabling us to connect governmental agencies to the financial community and facilitate timely responses.
- Superior Technology – A secure Web-based application for processing asset verification requests and responses between the governmental agency and financial institutions.
- Undisclosed Asset Detection – Capabilities to detect undisclosed assets and our Geographic Undisclosed Account Radial Detection (GUARD) application, preventing the distribution of benefits and any requirement to recover funds from beneficiaries.