Stop scams and fraud with OK2Pay bank account verification
OK2Pay automates the bank account verification of individuals and businesses — before you pay.
OK2Pay gives you:
Verification of individuals AND businesses bank details in real-time when on-boarding a payee, rather than just at time of payment.
A resolution process when an electronic Confirmation of Payee check returns a non-match.
A full audit trail and log of all verification activity, making your auditors happy.
A complete check of payee details in real-time, including ABN and GST status.
A fully automated process, reducing errors and manual workload.
No lock-in contracts
Start with a low–risk Month-to-Month Commitment and scale up volumes or workflows when you are ready.
How OK2Pay extends the bank's CoP capability:
OK2Pay Platform | Bank Platform | |
|---|---|---|
Real time access to CoP data | ||
Bank Account verification when onboarding Payee | ||
Resolution process for a CoP non-match scenario | ||
Process workflow for payee bank account changes | ||
Extended functionality to confirm individual and company identity | ||
Real-time monitoring of payee ABN and GST status | ||
Audit trails and logs for every verification |
Choose your plan
STARTER PACK From $395/month
| GROWTH PACK From $595/month
| API ONLY From $195/month
|
CoP checks | everything in Starter + | CoP |
Unlimited users | Outsourced due diligence option | SandBox |
Security / SoD | ABA checks | - |
Alerts | Data wash payee master file | - |
Enhanced due diligence | Conflict of interest monitoring lists | - |
Audit trails | Single Sign On | - |
Reports and dashboards | API | - |
Customer Reviews
FAQ’s
My bank keeps telling me they have a CoP solution coming soon
Bank CoP solutions are designed to run only at the point of payment, which can interrupt payment runs . What happens when a No Match is returned? OK2Pay allows payee checks to be completed before payment, so No Matches can be reviewed, resolved and recorded without slowing the payment process or losing audit evidence.
Can I verify individual as business bank accounts with OK2Pay
Because OK2Pay has access to real time CoP data from the banks, Ok2Pay has the ability to verify business and individual bank accounts. OK2Pay also has added functionality using SMS & One-time-password (OTP) technology to provide an option when verifying individuals.
Do I need to commit to an annual contract
No, you can choose to subscribe to OK2Pay on a month-to-month basis an cancel at any time with a 30 day notice period.
Is my data kept within Australia
Yes, the Ok2Pay service is hosted in Australia, with our team are all here too.
Find out how OK2Pay can help you reduce scams and fraud, quickly and effectively.
Contact us today to see how easily we can get you up and running with OK2Pay, and start improving your payee verification process immediately.