KYXstart's Know Your Payee (KYP) solutionis specifically engineered to address the critical need for payment security and fraud mitigation within the US financial ecosystem, while maintaining global reach. The platform delivers instant, real-time validation of destination bank accounts, directly combating rising US threats likeAuthorized Push Payment (APP) fraudand Business Email Compromise (BEC).
Leveraging a single, high-performance API, KYX matches the intended recipient's name against the bank account details before funds are released, drastically reducing misdirected payments. By providing a scalable, compliant, and fraud-focused layer of trust, KYX empowers US banks, fintechs, and enterprises to enhance operational efficiency.
Stay ahead of evolving global mandates, including EU Verification of Payee (CoP). Ensure critical compliance frameworks are met to drastically reduce fraud and build trust across every transaction.
Protect payments from unauthorized transfers. Our comprehensive verification process prevents misdirected funds and empowers financial institutions to combact rising scams projected to exceed $7.6 billion.
Eliminate costly fees associated with failed payments, rejections, or manual corrections. Ensure successful transactions the first time, maximizing straight - through processing and minimizing operational expenses.
Our single API streamlines the entire Know Your Payee process, providing comprehensive bank account validation and ID fraud check capabilities for global banks and Payment Service Providers (PSPs).
Seamless integration with existing payment workflows to ensure minimal disruption.
Real-time response capabilities ensuring sub-second verification latency.
Standardized data models across all jurisdictions and banking rails.
Enterprise-grade security with end to end encryption for PII data.
