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Bank Account Verification

With the Bank Account Verification solution, you can now onboard with confidence knowing that that the individual’s/ merchant’s account details you have are genuine and indeed belong to the individual/ merchant that you are onboarding, thereby reducing the potential of fraud.

 

Couple it with our Cheque OCR API to make your bank account verification process seamless and instant.

Bank Account Verification
fraud_at_source

Tackle fraud at source

By validating account details during the onboarding process

on_stop_shop

Automate workflows

Auto-approve clean individuals/ merchants through automation

risk_free

Onboard faster

Minimize time spent in manual reviews


Unlocking value for global leaders

How it works

Provide a bank account number and IFSC code as input, and you’ll receive multiple data points that help you mitigate onboarding risk.

Bank account verification_input
Whether the account exists or not
Name of the individual/ entity on bank records

Unlocking value for global leaders

Where you can use it

Individual onboarding


Irrespective of whether an individual is opening an account on a mutual fund platform, taking a loan, creating an account on a cryptocurrency app or a gaming app, or whether they are being onboarded as a new employee in an organization, a bank account verification becomes paramount during the onboarding process.

Merchant/ entity onboarding



When a merchant or an entity is applying for a loan, onboarding on a aggregator platform, or in any other merchant onboarding journey, IDfy’s bank account verification allows you to validate that the merchant is indeed providing you with the correct bank details, thereby reducing potential of fraud.

Features

Reliable

Verification is done against Government sources

simple

Simple

Verification only requires two inputs - account number and IFSC code

instant

Instant

TAT of the API is very low, enabling real time verifications

Quick integration

API structure is straightforward, enabling super quick integrations

A one-time, hassle free integration

Our industry-leading API easily integrates with your existing workflows and processes.

Bank account verification_Integration

What our clients say

Ready to get your API access?

Contact_Shivani

Registered Office 
4-F Rushabh Chamber, Off Makwana Road, Marol Naka, Andheri East, Mumbai, 400 059