The context
For decades electronic bank verification has been carried out by using databases and name matching logic. Although vastly more efficient than requesting identity documents and bank statements manually, this method is only ever as effective as the underlying data available.
In recent years an alternate method has become available - open banking. Now a tried and tested method, open banking allows you to quickly match the details of an account, such as sort code and account number, to details provided by your customer.
This bank account verification process is built with consent at the heart, providing the customer with an efficient user experience, and ensuring all data is real-time and matched to the account owner - eliminating fraud and satisfying KYC.
On Wednesday 26th October, 2PM (BST) James Varga, CEO & Founder of Atto, and Pete Janes, CEO & Founder of Shieldpay, get together to discuss the history of account verification, sharing past challenges faced and presenting a new incredible use case, powered by open banking.
