Bank account validation
Protect your business payments with bank account validation you can trust
Get StartedWhere traditional bank account validation fails
We‘ve seen hundreds of cases where fraudsters open legitimate bank accounts that appear to be owned by a real company but are not. These fraudulent bank accounts will still pass all existing bank validation, resulting in millions of dollars lost. Validating bank accounts isn’t sufficient to provide full identity verification for your bank accounts.
The Trustmi Way
Trustmi takes a holistic approach to bank account validation. We offer a robust process that accurately confirms the vendor is the real account holder and the bank account they are using for payment is the right one. We employ a multi-pronged approach for validating bank accounts.
Traditional bank account validation serves as a foundation of our approach
Direct connect
Through a secure integration, vendors can connect to their bank account which will populate information directly into the vendor profile during onboarding.
Penny Drop
Vendors are required to perform a seamless penny drop validation to authenticate the bank account and confirm the account is active.
We augment the traditional approach with a wealth of data and cutting-edge cybersecurity tools. This combination guarantees a robust verification process.
The New Call-Back Procedure
Replace the time-consuming and vulnerable call-back procedure with Trustmi Certify, our out-of-band identity validation.
Trust Network
Leverage Trustmi’s crowd intelligence and AI engine to connect the dots of the vendor’s behaviors and patterns so you can have confidence in your supply chain payments.
At Trustmi, we make the bank account validation process easy and reliable
- Seamlessly connect a bank account during vendor onboarding for immediate validation
- Ensure future updates or changes to a vendor’s bank account are always validated
- Reduce manual work and avoid human error in inputting vendor account information
- Leverage the collective intelligence of the Trust Network as additional assurance of validation
- Save time by eliminating the need to call or email the bank for verification
- Enforce your process of validating your vendors, your way
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