Leading global data firm Experian has partnered with iPiD to deliver enhanced international bank account verification services to UK businesses operating in European and global markets. The collaboration announced today combines iPiD’s Know Your Payee verification technology with Experian’s extensive data infrastructure to address cross-border payment security concerns for British companies.
The partnership comes as UK firms increasingly face fraud risks and compliance challenges when processing international payments. By integrating iPiD’s payee verification capabilities with Experian’s platform, businesses can now verify bank account details across multiple jurisdictions before executing transactions. This development particularly impacts UK exporters, multinational corporations, and financial services firms managing cross-border payment flows.
The move reflects growing regulatory pressure around payment security and the rising cost of payment fraud in international transactions. Companies using the service will gain real-time verification tools to reduce misdirected payments and prevent authorized push payment fraud across their global operations.
FXnCO Insight
UK businesses processing international payments should evaluate this verification solution immediately to strengthen fraud prevention protocols and reduce costly cross-border payment errors.
Source: Finextra