This added layer of protection is on top of the already highly secure apexportal – which is used to manage 4.7 million global suppliers by the largest companies in the world.
Bank account ownership validation in the US, UK, Ireland, Sweden, Poland and India
The event: Someone stole $1.2 million from your company. And got away with it.
This happens a lot, because hugely successful companies still confirm bank account changes with manual tasks like penny tests, emailing the supplier or calling an internal sponsor.
apexanalytix’s BankPro stops this with a two-step automated process to prevent fraud…even if your systems have been compromised.
Bank Account Ownership Validation
Really real. Really.
Global banks. And government agencies. That’s who we validate bank account change requests with. Sources that are authoritative.
The “how” is cooler. Automated. In real time. So you don’t have to do anything. No emails, calls or PDF exchanges.
This is the data that we use to stop fraud and eliminate outdated manual processes.
- Legal entity match required on supplier’s apexportal profile and bank account
- Global banks and government agencies: US, UK, Ireland, Sweden, Poland, India
- Bank account type (commercial, individual)
- Bank account is in good standing
Bank Account Confidence Score
It’s in the data.
No bank account change happens online without trails of data.
IP addresses, how long the bank account has been open, similarity to other supplier data...the list goes on.
Combined with our 90M+ supplier database, we can confidently determine if a bank account change is legit or not.
apexbankpro provides the guidance your team needs to quickly flag suspicious requests for further due diligence and confidence to automate every legit request.