Banks & financial institutions
Your cross-border payments secured globally
Close the trust gap in global and local transfers. Instantly validate beneficiary account ownership to stop APP fraud, eliminate misdirected payments, and ensure seamless compliance with FATF16 mandates.
The global and local payments imperative
Cross-border payment flows are expected to reach $156 trillion by 2030. While global banks struggle with the complexity of unfamiliar international formats, local banks face high operational burdens and rising fraud from account takeovers.
- Costly payment failures
Between 11–30% of cross-border transfers fail due to incorrect or outdated beneficiary details. For local banks, these failed payments cost between $60 and $300 per transaction in recovery and customer churn.
- Sophisticated fraud and scams
Fraudsters increasingly exploit vendor impersonation and account takeover (ATO) schemes. Without real-time verification, banks remain vulnerable to Authorized Push Payment (APP) fraud.
- Intensifying regulatory mandates
Global mandates like FATF16 and regional rules such as EU VoP, UK CoP, US NACHA, and Australia CoP require greater transparency. Non-compliance increases operational complexity and erodes client confidence.
Build trust and accuracy with IPID before money moves
One verification layer
Americas, Asia, Africa, and Europe via a single API.
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Deliver customer trust
Verify beneficiary details before execution so cross-border payments arrive correctly and securely, strengthening confidence in your institution.
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Reduce failed transfers
Catch incorrect or outdated details at the source to lower operational costs and prevent disputes.
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Simplify regional compliance
Meet requirements such as VoP, CoP, and FATF16 by embedding verification directly into your existing cross-border payment flows.
One check, three verdicts
Precision verification via a single API. Eliminate the guesswork. Our API provides clear, actionable responses so you can automate your decisioning logic instantly.
You send name and account
Your payment flow calls IPID with the beneficiary name and account before initiation.
IPID checks at the source
IPID checks the name against the account's registered holder.
You act on the verdict
Match clears the payment. Partial match shows the registered name so the customer can correct it. No match stops a bad payment before it leaves.
Reviews by industry leaders
Citi partners with IPID to raise the bar for global payment security
“At Citi, we believe the future of global payments is built on a foundation of trust and resilience. Our collaboration with IPID will enable us to rapidly scale and accelerate the reach of our Citi Verify solution globally, supporting superior fraud mitigation and driving unparalleled efficiency for our clients.”
Future-proof your cross-border payments
Secure your institutional flows and meet local and global mandates with payee verification.
- Payment initiation
- Customer onboarding
- Bulk payouts
- Vendor screening
- Treasury transfers
- API or batch file
How much could your organization save? Try the ROI calculator
Questions banks ask first
Does IPID store any sensitive customer data?
No. IPID operates with a no data storage policy, ensuring full compliance with global privacy standards and banking security protocols.
How does this help with the EU Verification of Payee (VoP) mandate?
IPID acts as a trusted routing and verification mechanism, helping banks and PSPs meet the mandatory EU VoP requirements for instant and cross-border payments that became effective on 9 October 2025.
Does the solution support the UK and Australia Confirmation of Payee (CoP) rollouts?
Yes. Our API is fully aligned with UK CoP Phase 3 (2024–25 rollout) and the Australia CoP mandate which went live in July 2025, ensuring your cross-border payments meet local standards in these key markets.
How does IPID help US financial institutions meet NACHA requirements?
IPID provides the necessary account validation layer to support US NACHA Phase 1 compliance ahead of the 20 March 2026 deadline, reducing the risk of unauthorized ACH transfers.
What role does IPID play in satisfying FATF Recommendation 16 (The Travel Rule)?
Following the adoption of FATF Rec 16 in June 2025, financial institutions must ensure greater transparency in identifying the ultimate beneficiary. IPID confirms beneficiary details before execution to ensure that the required data is accurate and verified.
Can this prevent 'Authorized Push Payment' (APP) fraud across different jurisdictions?
Absolutely. By flagging "Weak Matches" or name-account mismatches, IPID alerts banks to potential vendor impersonation or account takeover scams before money leaves the sender's account.
Does integration require significant changes to our existing infrastructure?
No. IPID is a rail-agnostic overlay service. You connect via a single API, and we route the verification requests to the relevant global financial institutions dynamically, regardless of your settlement network.
How does IPID mitigate the high cost of cross-border payment failures?
With cross-border failure costs ranging from $60 to $300 per transaction, IPID catches formatting errors and incorrect data at the source to prevent expensive investigations and customer churn.