The Problem

Account holder's personal details can not be validated between banks.

• Account holder's personal details are not used to process account-to-account payments
• A payer's bank has no way to validate the private details of a non-member account holder. Banks can't disclose account holder details to others due to inter-bank communication limitations and compliance reasons.
• A payer's bank has no way to enforce KYC to payees, to authenticate payees and to easily and confidently apply sanctions to blacklisted payees using validated PII
• All existing solutions require sharing account details with a central party to act as a verifier
• The problem may exist for many types of account identifiers like RTN/Branch/BSB/Account Number, IBAN and Swift # or even Wallet IDs
• Multiple money laundering and fraud possibilities have been left open due to this issue.

Payee Auth is unique since it empowers financial institutes to validate and confirm the private details of other banks' account holders without any banks having to share account details with any 3rd parties (not even with Payee-Auth), without having to change or switch to new payment processing platforms, without having to collect members' consent and without having to change payment messaging protocols, helping solve the problem for good and for all