Fraud prevention encompasses various challenges, including accurate identity verification, secure transactions, and mitigating the risk of financial losses. Traditional methods relying on manual and paper-based documentation are prone to forgery, tampering and human errors. Without adequate checks released funds can be lost to fraudsters.
SOLUTION
Real-time IBAN verification
By leveraging secure APIs, financial institutions can access real-time customer financial data directly from banks, facilitating enhanced identity and account verification. Through IBAN verification, providers can validate the accuracy and legitimacy of customer-provided account information, minimising the risk of fraud.
Boost Conversion
Verify account ownership, balance information, and transaction history in real time for a faster and more reliable onboarding process.
Reduce Risk
Eliminate the need for manual data entry and paperwork, reducing the risk of forged or inaccurate documentation.
Enhance Efficiency
Offer a seamless and hassle-free onboarding experience by streamlining processes, enabling quick verifications, with secure access to accurate and reliable data.
Products you’ll need
Connect
Real-time access to an array of financial data via Open Banking APIs.
Imagine, if you will, a world where everyone, regardless of their income level, social status, or geographic location, has a bank account. They have ...
