Preventing Online Payment Fraud with Bank Account Verification

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Products Experience the power of graph-defined identity verification.
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Fraud Risk

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ID Document Verification

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Platform

. Socure ID + Platform
The new standard for digital identity verification, providing real-time, predictive analytics for the most accurate and comprehensive identity verification and fraud prediction—all through one API.

Meet with Us at Money20/20
Learn how Socure’s identity platform powers risk & trust decisions.
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Fraud Risk

Fraud & Risk Solutions

Eliminate the need for limited, single-point solutions and gain a holistic view of identity with the industry’s most comprehensive digital identity fraud prevention suite.
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. Sigma Identity Fraud

. Sigma Synthetic Fraud

. Address RiskScore

. Email RiskScore

. Digital Intelligence

. Phone RiskScore

. Portfolio Scrub

. Sigma First-Party Fraud

Compliance

Compliance Solutions

Protect your organization with market leading data coverage, unmatched accuracy, demonstrable controls and world-class tools to efficiently manage your operations
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. Socure Verify

. eCBSV

. Global Watchlist Screening with Monitoring

. Portfolio Scrub

. Deceased Check

ID Document Verification

. Predictive DocV
Stop more fraud without sacrificing customer experience with the industry’s highest accuracy rates and fastest response time.

eBook
3 Warning Signs That Your ID Verification Process is Robbing You of Revenue
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Account Intelligence

. Socure Account Intelligence
Verify the status and ownership of non-traditional accounts held at digital banks, credit unions, and regional banking institutions.

Decisioning

. Decision Module
Align policy with process, automate decisions, help ensure compliance, and efficiently scale growth.

. Control Center
Prevent fraud across your portfolio, and demonstrate compliance in an evolving regulatory environment.

Analytics & Reporting

. Analytics & Reporting Dashboard
Explore, monitor, and audit crucial KPIs to optimize your operations, ensure regulatory compliance, and proactively address emerging risks to your business.
Industries

Industries Seamlessly onboard more good customers while preventing fraud—no matter your industry.

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Financial Services
Verify identities and stop fraud throughout the customer lifecycle, while meeting the most stringent compliance requirements.

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Marketplace
Strengthen the reputation of your ecosystem and instantly onboard more consumers and sellers without increasing risk.

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Sharing Economy
Ensure trust & safety while instantly onboarding more consumers, sellers, and gig workers without increasing fraud.

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Online Gaming
Maximize player conversion rates and reduce identity fraud losses while maintaining compliance.

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Buy Now Pay Later (BNPL)
Auto-accept more shoppers, attract more merchants, and protect your customers from identity fraud.

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Public Sector
Increase auto-verification rates of eligible individuals, improve program integrity, and eliminate manual reviews.

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Crypto
Verify identities faster and accelerate time to funding, trading, purchase, and storage.

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Workforce
Register and onboard more good applicants with passive identity verification.

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Sponsor Bank
Streamline BaaS management, enhance compliance, simplify partner oversight, and grow your customer base.
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Meet with Us at Money20/20
Learn how Socure’s identity platform powers instant risk and trust decisions.
Schedule a meeting

GET A DEMO | Talk To An Expert

Online payment fraud is one of the fastest growing areas of fraud and is expected to exceed $343 billion in merchant losses, globally, between 2023 and 2027, per Juniper Research. As a result, new regulations have emerged across the US and EU requiring bank account verification prior to ACH payment processing. However, verifying domestic bank account status and ownership prior to ACH transactions or funds disbursement can be costly for financial institutions and a lengthy process for consumers.

During this on-demand webinar, Socure experts will:

Discuss new regulations, including the Nacha WEB Debit rule.
Provide an overview of the types of solutions available for bank account verification, including consumer-permissioned, data-driven, and micro-deposit options.
Introduce Socure Account Intelligence, the company’s newest bank account verification solution that validates bank account ownership and open status.

Speakers

Kevin Kupiec

SVP, DocV & Consortium

Eric Woodward

Senior Advisor, Socure

Watch the webinar now!

Related Resources

Blog

How to Stay Ahead of Digital Payments Fraud with Socure Account Intelligence

Account Validation Solutions: Which One is Best for Your Organization?

Socure Account Intelligence Fact Sheet

Socure is the leading platform for digital identity verification and trust.

Its predictive analytics platform applies artificial intelligence and machine learning technology with trusted online/offline data intelligence from email, phone address, IP, device, velocity, and the broader internet to verify identities in real time.

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