Bank account validation

Protect your business payments with bank account validation you can trust

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Bank account validation is an important part of preventing fraud in B2B payments. The process verifies the identity of vendors and confirms the validity of their bank accounts to ensure they can be trusted.
But this is not enough.

Where 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.
Let Trustmi connect the dots between the bank account, the vendor, and the person. We allow businesses to rest easy knowing their payments go to the right place every time.

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