Shufti launches bank account verification across 70+ countries
Shufti Launches Bank Account Verification for Safer Payments ↗
What happened
- Shufti launched Bank Account Verification, which checks that a bank account exists, is active, and belongs to the individual or business claiming it.
- The capability runs through a single server-to-server API that returns one of six response types.
- Shufti states the capability is available now in more than 70 countries, with coverage and response types varying by corridor.
- In roughly 21 markets where live bank checks are unavailable, Shufti runs IBAN structure and checksum verification.
- When a customer edits payout or withdrawal details, Shufti can require a biometric re-authentication with liveness tested to iBeta Level 3 conformance under ISO/IEC 30107-3.
- Each account check is saved to the same case record as the identity result, showing the account verified, method used, and time.
Why it matters to Signicat
- Bank account ownership checks extend Shufti's verification into payouts and direct debits, a payment-control use case adjacent to Signicat's identity verification and risk screening lines.
Evidence from the source (7 quotes)
- “has launched Bank Account Verification, a capability that enables businesses to verify that a bank account exists, is active, and belongs to the individual or business claiming it before money moves.” source ↗
- “Shufti Bank Account Verification operates through a single server-to-server API and returns one of six response types.” source ↗
- “Shufti Bank Account Verification is available now in more than 70 countries across Europe, the US, APAC, LATAM, the Middle East, and Africa, with coverage and response types varying by corridor.” source ↗
- “In roughly 21 markets, where live bank checks are unavailable, Shufti runs IBAN structure and checksum verification, helping catch mistyped account numbers before payment rather than returning no result.” source ↗
- “When someone edits payout or withdrawal details, Shufti can require the customer to re-authenticate with a biometric check, with liveness tested to iBeta Level 3 conformance under ISO/IEC 30107-3.” source ↗
- “Each check is saved to the same case record as the identity result. The record shows which account was verified, which method was used, and when.” source ↗
- “Verifying a customer’s identity does not establish ownership of the account used for payouts, withdrawals, refunds, or direct debits.” source ↗
AML KYB screeningFraud deepfake injectionOrchestration platformProduct launchFeature updateGlobal
6 of 6 facts verified against the source · confidence medium · claude-haiku-5-5