United Software Extends BankVal

Unified Software has extended its BankVal range to provide new capabilities with BankVal UK v2 and a brand new product in the shape of BankVal Server.

Unified Software successfully pioneered BankVal UK in 2003, as the first web service solution to the bank validation problem. The software has proved to be a great success with a range of customers, including BT, RSPB and Greenpeace.

BankVal UK validates bank account details before they are submitted to the BACS payment network, ensuring Direct Debit and Credit payments work first time. Customers can therefore save time and money spent on correcting rejected payments.

BankVal v2 has been enhanced to cater for the new UK Faster Payments system (FPS). FPS is the new electronic payments network which processes financial transactions in hours rather than days.

George Barron, Managing Director at Unified Software comments:

“The £300m Faster Payments Service (FPS) was launched in May 2008 by 13 top banks and our enhanced product sits perfectly with the way the market is progressing. Since the focus of FPS is on speed, validation is more important than ever before. Customers now rely on being able to make payments in near real time, but invalid data will prevent this from happening, BankVal UK v2 is a successful and cost effective solution to this. FPS aims to benefit businesses by improving cash flow and allowing for improved financial management to the benefit of businesses both large and small.”

True to its values of providing unrivalled customer service, Unified Software has also launched BankVal Server. This new development offers businesses a bank account validation system that can be hosted using their internal IT infrastructure, thus providing greater flexibility within the businesses existing systems.

Offering the same functionality as the existing BankVal range, BankVal Server is hosted on a customer’s own computer systems and can be deployed as a conventional application or as a web service. George commented: “Through pioneering BankVal throughout the UK and abroad, we have an excellent understanding of our customer’s needs. We feel that launching BankVal UK Server offers an alternative for those businesses that prefer to keep all management systems in house.”