Web Services/API Case Study
Asset Verification System
Our client wanted a seamless, real-time integration of an electronic Asset Verification System into its existing data services hub and that is exactly what we did.
The Problem
Our client wanted a seamless, real-time integration of an electronic Asset Verification System (AVS) into its existing data services hub, to discover the undisclosed assets of individuals applying for and/or receiving Medicaid benefits, while also ensuring compliance with Section 1940 of the Social Security Act.
Our Solution
Our team developed an innovative asset verification system solution that used electronic networks to provide the most comprehensive real-time solution in the United States. The solution can identify assets over eligibility thresholds and/or likely asset transfers during the prior 60-month “lookback” period.
Our real-time banking system integration with Bank of America, JPMorgan Chase, Wells Fargo, Capital One, and other national financial institutions, provided a comprehensive search of Texas assets and accounts, and highlighted potential asset transfers during a 60-month historical period, which indicated increased risk or potential fraud.
Challenges
- Developing a real-time method of asset verification
- Creating a seamless interface with existing web and mobile application systems
- Ongoing compliance with a growing array of State and Federal regulations
- Adhering to stringent privacy and security requirements
- Providing full audit functionality
Benefits
- Real-time verification of financial assets
- Search capability across multiple sources
- Speedier eligibility determination
- Increased worker productivity and accuracy
- Improved program integrity
