Account Verification Services

The Pennsylvania Fiscal Code was amended (Act of July 11, 2022 (Act No. 54, P.L. 540)) to include Section 301.5, captioned “Commonwealth Payment Security,” requiring the implementation and maintenance of electronic payment security standards consistent with national financial industry standards. The Act directs that, “the electronic payment security standards, measures and procedures required …. shall be designed to confirm and verify the existence, status, standing, maturity, and signatory authority of the banking account, authenticate account-ownership and control, and accurately identify the identity of intended payment counterparties, prior to the 4 initiationand completion of a payment to the account or against the account.”The provider’s solution shall be able to deliver a determination of the validity of a bank account and routing number. Specifically, the qualified Provider shall determine whether the financial data provided to Agencies, as the payee’s self-attested bank account information, is accurate, correct, valid, and matches the identity of the bank account owner/authorized signatory of the direct deposit bank account information provided (to include verification of pre-paid cards to the extent applicable).The provider’s solution shall include identity verification services that use additional details about the individual requesting the bank account addition or change to identify potentially fraudulent actors.To be considered, the provider must be qualified by the Pennsylvania Department of Treasury to provide Account Validation Services to Commonwealth agencies. Account Validation Services (patreasury.gov)  Please click here to view the list of solicitations.  All Offerors are required to create a user profile within our JAGGAER portal.  Please click here to go to the portal.PROPOSALS WILL ONLY BE ACCEPTED ELECTRONICALLY THROUGH JAGGAER.Technical support is available via Jaggaer at JAGGAER Support JAGGAER Support or +1 (555) 000-0000