Swif Account Validation 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 Measures And Procedures As 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 Initial And Completion Of A Payment To The Account Or Against The Account The Department Of Labor And Industry On Behalf Of The State Workers Insurance Fund Swif Is Seeking Offers From Providers With A Solution That Delivers A Determination Of The Validity Of A Bank Account And Routing Number The Qualified Provider Shall Be Able To Determine Whether The Financial Data Provided To Agencies As The Payee S Self Attested Bank Account Information Is Accurate Correct Valid And Matches The Identify Of The Bank Account Owner Authorized Signatory Of The Direct Deposit Bank Account Information Provided The Offeror 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 Offeror Must Be Qualifed By Th Pennsylvania Department Of Treasury To Provide Account Validation Services To Commonwealth Agencies Account Validation Services Patreasury Gov All Offerors Are Required To Create A User Profile Within The Commonwealth S Jaggaer Portal Link To The Jaggaer Portal Https Bids Sciquest Com Apps Router Publicevent Customerorg Commonwealthpa Only Those Proposals Submitted Electronically Through The Jaggaer Portal Will Be Accepted For System Navigation Questions Contact The Dgs Help Desk 1 877 435 7363 Ext 2 For Those Problems L