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
Our novel patented 'PII Certificates' solve the issue for all and for good with some unique attributes!
Create PII Certificates
Without sharing account holder details with Payee-Auth or any other party, in a single step, create a PII certificate for each account and include as many PII items as desired. This is a batch process run locally without sending private info out.
Validate Account Details
Without sharing account holder details with Payee-Auth or any other party, validate multiple payees' personal details using 'any' account identifier (e.g. BSB/Account Number, PayID, IBAN, Swift #, Wallet IDs and more).
Stop Fraud and Mistakes
Payee-Auth's effective payee authentication helps implement anti-money laundering, anti-fraud and protective payment authorization policies for direct bank-to-bank payments without having to change backend systems!
We are unique in a number of ways!
No need to share private account holder details with Payee-Auth, eliminating needs of consent collection, facilitating a universal resolution for the problem at a bank level for all accounts
No Backend Change
No backend payment protocol needs to change when adopting Payee-Auth
Easy and Low-Cost to Adopt
1 API call to create a PII certificate for an account, 2 API calls per validation with low-cost per-API-call pricing
See It in Action
Get in touch to book a demo to see how easy it is to adopt Payee-Auth and improve payment security significantly and seamlessly.Call To Book a Demo
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155 Queen Street, Brisbane QLD 4000, Australia
+61 7 3062 1414