Following this announcement, Trustmi is set to allow businesses and companies to benefit from its secure and comprehensive approach to bank account validation, which was developed in order to accurately verify the accounts of customers and to provide full protection against multiple types of payment fraud.
The Trustmi Ceritify was designed as an efficient vendor validation solution that aims to meet the needs and expectations of users in an ever-evolving landscape that also presents multiple fraud threats and challenges. The service represents a new identity validation as well, focusing on replacing the time-consuming and vulnerable call-back processes.
In addition, Trustmi Certify leverages the Trust Network’s collective intelligence and artificial intelligence (AI) engine in order to connect the vendor’s behaviours and potters for a full assurance of validation and protection.
As bank account validation stands as an important element in the process of fraud prevention and mitigation in the business payments industry, Trustmi’s launch is set to optimise the overall security of its customers, keeping them protected against online threats. This process starts with the authentication of vendors' identity, as well as the validation of the legitimacy of their bank accounts. In addition, conventional procedures for bank account validation fall short in the process of providing comprehensive protection, so the company will focus on delivering a more robust strategy as well.
Included in Trustmi’s approach is the process of traditional bank account validation, as vendors can securely connect their bank account during the vendor onboarding time, for an immediate and easy verification. They also have the possibility to extend it with penny drop validation in order to authenticate the bank account successfully. Trustmi Certify will optimise the traditional verification approach with advanced cybersecurity products and features, which will be leveraged to ensure a trusted procedure.
The company aims to offer an easy and reliable process for its clients while delivering immediate bank account validation, reducing manual work, as well as avoiding human errors that could occur when vendor account information is provided. Trustmi Cerify will also save time by eliminating the back-and-forth communication that usually takes place between the bank and the client, as well as ensuring that the updates to a vendor’s information are always validated.
Following this launch, Trustmi aims to use this approach in order to give businesses the possibility to improve bank account validation for their vendors, without any disruptions or risks to their internal processes.
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