Trustmi released Trustmi Certify, a critical innovation in its new solution for bank account validation.
Businesses can now benefit from Trustmi's holistic approach to bank account validation that accurately verifies the account and provides full protection against business payment fraud.
Bank account validation stands as a pivotal element in the prevention of fraud in business payments.
The process authenticates the identity of vendors and also validates the legitimacy of their bank accounts.
Conventional processes for bank account validation fall short in providing comprehensive protection, and a more robust strategy is needed.
Trustmi Certify is a new out-of-band identity validation solution that replaces the time-consuming and vulnerable call-back procedure.
The solution leverages the Trust Network's collective intelligence and AI engine to connect the dots between all the vendor's behaviors and patterns for full assurance of validation.
Traditional bank account validation is part of Trustmi's approach.
Vendors can seamlessly and securely connect to their bank account during vendor onboarding for immediate validation or extend it with penny drop validation to authenticate the bank account.
Trustmi's solution enhances the traditional validation approach with advanced cybersecurity tools, which together guarantee a trusted verification process.
The result is an easy and reliable process that delivers immediate bank account validation, reduces manual work, and avoids human error when inputting vendor account information.
The solution also saves time by eliminating the back-and-forth communication with the bank and ensures updates to a vendor's information are always validated as they occur.
With Trustmi's approach, businesses can enforce bank account validation for their vendors without any disruptions to their internal process.
This Cyber News was published on www.helpnetsecurity.com. Publication date: Fri, 08 Dec 2023 13:43:04 +0000