Experian and account verification specialist iPiD have partnered to extend bank account verification to businesses operating across international corridors, starting with 30 countries and targeting coverage of 90 percent of the world’s banked population. The service, launching first for UK businesses, combines iPiD’s Know Your Payee network with Experian’s identity and fraud data, checking whether a payee’s name matches its account details in roughly 2.3 seconds.
The gap the partnership targets is real and expensive: businesses paying suppliers, partners, or payroll across borders have had no consistent way to confirm an account belongs to the person or company they think it does, and account verification standards vary sharply by market. “Our clients operate across markets with very different verification standards, and that inconsistency creates real friction and risk,” said Paul Weathersby, Chief Product Officer for Identity and Fraud at Experian UK&I. Damien Dugauquier, co-founder and CEO of iPiD, put the stakes more broadly: “Payee verification is becoming the foundation of trust for how money moves globally.”
The original insight here is less about this one deal and more about what it signals for account verification as a category. The UK’s Confirmation of Payee and the EU’s SEPA Verification of Payee were built as domestic or regional fraud controls; bundling that logic into a single cross-border product, covering SEPA, the Americas, Africa, Asia, and the Middle East from day one, treats payee verification as core payment infrastructure rather than a bolt-on compliance feature. That is the same direction Basware’s acquisition of Trustpair and Socure’s push deeper into AI-driven fraud detection have been pointing: verification is consolidating into the payment workflow itself, not sitting beside it.
Source: iPiD
