PNC Bank entered into a strategic alliance with GIACT Systems, a leader in helping companies positively identify and authenticate customers.
By employing GIACT’s verification and authentication technology, PNC will arm its commercial clients with real-time fraud prevention tools to confirm an account is open, active and in good standing prior to initiating a payment.
“GIACT’s approach to verification and authentication aligns with our mission to mitigate fraud and improve the client experience,” said Chris Ward, executive vice president and head of product, PNC Treasury Management. “Our clients depend on PNC to provide solutions that help them stay ahead of the latest fraud tactics. Our new offering will enable clients to validate transactions by running a single inquiry that covers more than 4 billion consumer and business records – verifying bank account status in real time and allowing businesses to transact with confidence.”
Through this relationship with GIACT, PNC’s clients will gain access to the largest network of identity verification and authentication services available, accessible via a single API.
“We are honored to be entering into an alliance with PNC,” said Melissa Townsley, co-founder and CEO, GIACT. “GIACT’s industry-leading fraud prevention tools will allow PNC’s clients to enroll their clients quickly and efficiently, while minimizing the risk of fraud.”
