Access GIACT’s American data source in Trustpair
What is GIACT?
Start protecting your company from payment fraud today!
Benefits of GIACT integration in Trustpair
Largest coverage of the U.S. market:
Combine over 4 billion consumer and business records thanks to GIACT and Trustpair data (including customer data, additional checks, etc.).
Faster Account Validation Process
Validate in just a few seconds a high volume of vendors in batches, reliable account validation worldwide, and streamlined processes
Enhanced Data Accuracy
Work with reliable and secure data at all times thanks to. GIACT’s instant account information coupled with Trustpair’s continuous data monitoring
Key features of GIACT within Turstpair
Validate US Vendors Instantly
- Mitigate the risk of fraud with an unrivaled coverage rate in the USA
- Save time with instant validation of American vendors for both natural and legal persons
- Validate large volumes of vendor data in batches
Maintain Up-to-date, Reliable Vendor Data
- Ensure that your supplier database is always accurate with continuous monitoring based on GIACT data
- Enrich vendor information with GIACT data such as bank account status checks (open accounts, closed accounts, etc.)
- Define real-time alerts and notifications based on information delivered by GIACT
Automate Processes & Improve Team Collaboration
- Leverage GIACT data via SFTP, API, Web App, or native connectors.
- Set up automated continuous monitoring
- Adjust vendor status using a role-based workflow with comments and activity history
Benefit from GIACT network
Our customers leverage GIACT
"Trustpair gives us more reliability and peace of mind. The financial director is more serene when it comes to approving the transfer order."
"With Trustpair’s verification methodology, it's no longer just a consistency check but an exact confirmation of the validity of the third party: there is no longer any risk."
"With Trustpair, we are able to automatically and quickly monitor our third parties and ensure the security of that very data over the long term."
“I would definitely recommend Trustpair to finance departments. It makes adding and modifying beneficiaries more reliable, without resorting to manual processes that are cumbersome, time-consuming and fallible.”
“The control process is simplified with the Trustpair solution, the Finance Department is reassured and, above all, it no longer needs to waste time performing manual checks to verify a supplier's bank details.”
"Trustpair adapts very well to the specifics of our market and our way of working. Several features are developed as we work together. That's a real plus."
"Trustpair has become more than a reflex; it has become an obligation. The team no longer validates an IBAN unless Trustpair has confirmed it to us."
More international data sources integrated within Trustpair
FAQ
Frequently asked questions
LSEG is one of the world’s leading providers of financial markets infrastructure and delivers financial data, analytics, news, and index products to more than 40,000 customers in 190 countries.
They help organizations fund innovation, manage risk, and secure every point in the trade lifecycle: from informing their pre-trade decisions and executing trades to raising capital, clearing, and optimization.
Backed by more than three centuries of experience, innovative technologies, and a team of 23,000 people in 70 countries, They are driving financial stability, empowering economies, and enabling you to grow sustainably.
Trustpair’s technology is accessible through various deployment way. Among them, the API allows Financial departments to benefit from the advantages of the solution directly within their current digital tools
B2B payment fraud takes many forms: CEO scams, phishing, supplier fraud, etc. To summarize, it’s all the ways fraudsters can embezzle funds from a company. Scammers are more and more innovative, often resorting to sophisticated cybercrime.
One of the most common ways is using identity theft to change banking information and have money sent to fraudulent bank accounts. Thieves can use vendors or even employees to change banking credentials.
This type of fraud is difficult to detect: that’s why it’s crucial to have an automated solution like Trustpair that checks bank account ownership.
B2B Payment fraud encompasses various tactics, each with the potential to cause significant financial losses. Some common types of B2B payment fraud include:
- CEO Scam: Fraudsters impersonate high-level executives to request urgent payments. They usually resort to intimidation and target individuals from the treasury department.Trustpair’s solutions help verify such requests and prevent unauthorized transactions by identifying any fraudulent account.
- Supplier Scam (Bank Detail Replacement): Criminals manipulate merchant bank details to divert payments to their accounts. Trustpair’s validation process ensures that bank account details match legitimate vendors.
- Fake Invoice: Fraudsters send bogus invoices to deceive businesses into making payments for services or products that were never provided. To stop fraud from occurring, Trustpair’s solution helps verify invoice authenticity.
- Email Hacking (Impersonation of Suppliers): Hackers gain control of supplier email accounts to send payment requests from seemingly legitimate sources. To safeguard businesses from this type of fraudulent activity, Trustpair’s real-time monitoring detects anomalies before payments are executed.
- Internal Frauds: Dishonest employees manipulate internal systems to facilitate unauthorized transactions. Fraud happens when they enter their own bank details instead of merchants’ details and receive transfers. Trustpair’s comprehensive approach helps prevent such insider threats.
One of Trustpair’s key strategies in combating B2B payment fraud is integration with external international vendor data sources. These sources provide essential information to validate instantly the ownership of vendors’ bank accounts, ensuring the legitimacy of transactions. Trustpair relies on trusted external data and internal data such as client data mutualization or payment history. This enhances the accuracy and reliability of its fraud prevention efforts and ensures top-notch protection against fraud. Trustpair is the ultimate anti-fraud platform and will make fraud detection and prevention seamless.