What is GIACT used for?
GIACT is a consumer reporting agency that verifies and authenticates checking and savings accounts and resells reports prepared by third parties. Such reports may be as limited as providing information about whether an account number is valid and whether the account is open.
Who uses GIACT?
GIACT helps clients of all sizes, and its primary clients are banks, insurance companies, commerce and retailers. The Allen based company's team of payments, risk and security experts focuses on creating and delivering technology solutions that protect companies and their customers from payments and identity fraud.
What is GIACT validation?
GIACT identified four areas that an ideal verification system would validate: Account status. Payment history, particularly NSF or chargeback history. Ownership, and matching ownership to the payment originator. Consistency of PII, including name, address, phone number, email and more.