Insight & Analysis

Press release: BELLIN pursues “security-in-numbers” approach to payment fraud

Published: Mar 2018

The Verify-Your-Supplier feature represents a targeted approach to payment fraud, including Payment Diversion schemes, by providing companies and suppliers with an independent verification tool that enables them to store, maintain and verify account master data. This represents a “security-in-numbers” approach to curtailing fraud with the aim of engaging as many suppliers as possible and offering users a complete database that helps them cover all bases.

“Payment fraud is an issue that concerns all companies worldwide. And with everyone exposed, it seems only logical that we join forces in tackling it,” explains Miroslav Sokolovic, Senior Manager GTB Services at BELLIN. “The more comprehensive the accurate data directory, the easier it gets to weed out the fraudsters.” The Verify-Your-Supplier feature complements BELLIN’s GTB Hub Global Transaction Banking app that also features a comprehensive Find-Your-Bank search function, a Rate-Your-Bank peer review feature and a Follow-Your-Bank change notification feature, with a groundbreaking Track-Your-Payment function to be added soon. GTB Hub is available for both iOS and Android and can be downloaded in the App Store and Play Store.

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