Experian and iPiD Expand Bank Account Verification Across Global Markets

Experian and iPiD have partnered to extend bank account ownership verification for UK businesses into European and international markets, expanding fraud-prevention controls beyond domestic Confirmation of Payee checks.

The partnership integrates iPiD’s global account-verification network with Experian’s existing UK Confirmation of Payee and Verification of Payee capabilities. The service initially covers 30 countries across SEPA markets and regions including the Americas, Africa, Asia and the Middle East.

Real-time verification before payments are made

According to the companies, iPiD can verify beneficiary account details in about 2.3 seconds without requiring additional action from the customer. Results are returned as perfect, partial or no match, allowing businesses to apply additional checks where ownership cannot be confirmed while allowing verified payments to proceed with less friction.

The companies position the integration as an alternative to fragmented manual verification methods such as reviewing uploaded bank statements. Experian said the combined service gives clients a single approach to confirming account ownership across domestic and cross-border payment flows.

The partnership is expected to expand coverage toward about 90% of the world’s banked population, although the companies have not announced a timetable for reaching that level.

For financial-crime and payments teams, cross-border account verification can strengthen controls against misdirected payments, authorised push-payment fraud and the use of mismatched beneficiary details. It does not replace customer due diligence or transaction monitoring, but adds an important pre-payment identity and account-ownership control.