Fraud Prevention
CHALLENGE

Money lost to fraud

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.
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Boost Conversion

Verify account ownership, balance information, and transaction history in real time for a faster and more reliable onboarding process.
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Reduce Risk

Eliminate the need for manual data entry and paperwork, reducing the risk of forged or inaccurate documentation.
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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.

Account Verification

Verify bank account ownership instantly and securely.

Events and Resources

Open Banking , Bahrain
A first-of-its-kind partnership introduces centralized open banking authentication in Bahrain, creating a seamless, secure experience for consumers ...
Open Banking
The financial landscape is undergoing a profound transformation with the advent of Open Banking, which is growing at a staggering rate of 130% per ...
Open Banking
In an age where the speed of service can make or break a financial institution, the traditional loan approval process often feels like a relic of the ...
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Talk to us
We're here to help you make the most of open banking.
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