The ability to verify bank accounts unlocks valuable opportunities across diverse business scenarios:

1. Employee Background Verification:

Recruitment agencies can utilize this feature to conduct comprehensive candidate background checks, ensuring the accuracy of financial information

2. Vendor Onboarding:

Marketplaces that share commissions with vendors can leverage account verification to confirm bank account details, PAN numbers, and other relevant information during the onboarding process. This not only ensures accurate payments but also streamlines operations and reduces costs through potential integration with existing ERP systems.

3. Financial Services:

•  Customer Onboarding: Verify identities and source of funds for new account opening, reducing fraud and complying with KYC/AML regulations.
• Loan Applications: Assess risk and verify income or assets of loan applicants, expediting approval processes and mitigating credit risk.
• Payment Processing: Verify identities and prevent fraudulent transactions, ensuring compliance with payment industry regulations.

4. E-Commerce:

• Customer Account Creation: Verify identities and prevent fraudulent account creation, protecting businesses from chargebacks and fraudulent transactions.
• High-Value Transactions: Verify identities and financial information for high-value purchases, mitigating fraud risk and protecting customer accounts.
• Marketplace Platforms: Verify identities of buyers and sellers, ensuring smooth transactions and building trust within the marketplace.

5. Online Gaming:

• Account Verification: Verify identities and prevent underage gambling, complying with regulatory requirements and protecting children.
• Anti-Money Laundering: Monitor player activity for suspicious transactions, preventing money laundering and ensuring a safe gaming environment.
• Virtual Currency Transactions: Verify identities and source of funds for transactions involving virtual currencies, complying with relevant regulations and mitigating financial crime.

6. Other Industries:

• Real Estate: Verify identities of property buyers and sellers, ensuring compliance with real estate regulations and preventing fraud.
• Professional Services: Verify identities and qualifications of professionals, ensuring clients receive services from qualified individuals.
• Healthcare: Verify identities and insurance information of patients, streamlining healthcare processes and preventing fraud.

7. Beyond Industry-Specific Applications:

• Enhanced Customer Experience: Streamline KYC checks without compromising security, offering a seamless and convenient experience for customers.
• Reduced Operational Costs: Automate manual processes and improve efficiency, leading to significant cost savings.
• Improved Regulatory Compliance: Stay compliant with evolving regulations and avoid hefty fines or penalties.
• Enhanced Brand Reputation: Demonstrate
  commitment to security and compliance, fostering trust and loyalty among customers.
• These use cases highlight the versatility and adaptability of the KYC Verification Suite, making it a valuable asset for businesses across diverse industries.

Trential fetches the data directly from the updated government databases, hence our data is highly reliable/accurate. To find out
about where each data is fetched from read more here.

On Trential KYC Verification suite, you can instantly verify Bank Account Number, UPI ID, IFSC, PAN, etc. As you submit the request, our API gives an instant response.

No, there is no such limit on number of verifications requests per day. You can use the feature to verify any number of accounts in a day, 24*7.

While onboarding users, vendors, delivery partners, or even employees, an organization needs to do a Bank Account check. Minimize the chance of exposing the data to any third party, integrate Bank Account Verification API with the company’s internal systems and automated the process.

Trential fetches the data directly from the updated government databases, hence our data is highly reliable/accurate. To find out
about where each data is fetched from read more here.

In case the credits get unused, you can reach out to our Support team and raise a request to close the account and transfer the unused credits. Our team will transfer the amount equivalent to the credits in your account and close your account.