Account Verification: Powered by Open Banking
Leveraging the power of our Open Banking capabilities, we deliver better payment security using bank level security controls and biometrics.
What is Account Verification?
Moneyhub's Account Verification is here to improve the security and integrity of online transactions. It ensures that the payee's details match up with the registered account information.
Improve confidence in A2A payments
Lower the risk of financial fraud
Build trust with customers through better verification
Faster payments process
Reduce the risk of human error: no need to input account details
Transforming the payment verification experience
Account population: Name and account details can be used to populate user information.
Additional accuracy: Add an extra layer of defence against fraudulent activities by enabling the sender to verify that the payment details and account name corresponds precisely to the registered account information.
Identity confirmation: Using verified banking details for additional accuracy streamlines the process of setting up new accounts.
The many applications of Account Verification
Finance
Use Account Verification for new account openings and loan applications to reduce the amount of form filling.
Affordability checking
Combine with our decisioning and categorisation solutions to achieve greater accuracy for checking affordability.
Subscription services
Verify ownership of the bank details submitted, reducing the chance of human error and acting as a fraud reduction mechanism for Direct Debit creation.
Payout verification
Confirm account ownership prior to making a payment to an unknown account.