Bank Verification Software
Overview
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SUMMARY
DESCRIPTION
The State of Utah is seeking a bank verification software solution designed to automate and secure the process of validating vendor banking details and confirming account ownership. The required system must be capable of accurately verifying both bank account and routing numbers and must match vendor legal names with account holder data to ensure ownership verification.
Key features of the solution should include real-time or near real-time verification, robust fraud detection mechanisms, and secure management of personally identifiable information and financial data. The system should maintain a comprehensive audit trail for all verification activities and offer extensive reporting capabilities.
In addition, the software must be scalable to accommodate current and future vendor onboarding volumes. The chosen vendor will be expected to provide thorough documentation, technical support, and ongoing maintenance to ensure reliable operation of the system.
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Frequently asked questions
- When is the submission deadline?
- This RFP closed on November 5, 2025 and is no longer accepting submissions.
Analysis generated by Settle AI from the source RFP.
RFP Hunter shows what is open. Settle shows what is forming.
Settle pieces together buyer signals, budgets, contract activity, and the sources your team already monitors. See why an opportunity fits and what to do before the RFP posts.