Accuity, the leading global provider of financial crime screening, payments and know your customer (KYC) solutions, today announced that GoCardless, the leading global fintech for recurring payments, is using the Bankers Almanac Payments Data solution from Accuity to create a frictionless customer journey for businesses to collect payments in the world’s largest market. The reliable and comprehensive ABA routing number information from Accuity enables GoCardless to deliver an automated clearing house (ACH) based debit offering for businesses in the U.S.

With over $13 billion in transactions annually and 50,000 customers worldwide, GoCardless recently announced the creation of the first global debit network. By choosing Accuity, GoCardless has been able to expand its presence in the U.S. – a significant step as it covers 70% of the world’s recurring payments. This gives both GoCardless and its customers confidence that its payments platform is supported by the most accurate and up to date ABA Routing number information.

Accuity has been the Official Registrar of ABA routing numbers since 1911. It proactively updates clients when newly issued ABA routing numbers are released, which means they always possess the most accurate ABA payment routing data available. This enables Accuity to maximise straight through processing and optimise customers’ payment experience.

ACH is the center of commerce in the U.S. with nearly 23 billion payments processed in 2018, an increase of 6.9% over 2017. GoCardless relies on the Bankers Almanac ABA routing numbers file to simplify the payments process, reduce risk, and enhance its supplier and vendor relationships by ensuring accurate payments.

Paul Foster, Head of Banking and Scheme Development at GoCardless commented, “We recently announced the world’s first global network for recurring payments, enabling businesses to collect international payments in a variety of currencies with just one bank account. Many of our customers want to collect from the US, so it was necessary to have the most accurate ABA routing number information available - and in a way that can be easily integrated into our payments processes. Accuity data will provide us with exactly that.”

Foster added, “As we continue to expand our business to provide a cost-effective and hassle-free alternative to cash and checks, we need reliable partners that can help facilitate our journey. Accuity accommodated our needs to meet the tight deadline for our US market launch.”

David White, EVP of Payments at Accuity said, “By collaborating with GoCardless we can help support its business growth and ensure a seamless customer journey with the most accurate payments data that seamlessly integrates into its payments solution. Our Bankers Almanac for Payments portfolio provides assurance that worldwide payments will go through seamlessly, helping to avoid customer dissatisfaction and costs from rejected payments.”