Access SEPAmail Diamond directly in Trustpair
SEPAmail Diamond is one of many external sources integrated into the Trustpair platform. It provides our exclusive and automated account validation algorithm with French vendor data.
What is SEPAmail Diamond?
The SEPAmail DIamond solution was developed by SEPAmail.eu. It is France’s most extensive bank account ownership verification network, covering 90% of French vendors. It consolidates data from all the major French banking groups, including Société Générale, Crédit Agricole, BNP Paribas, Groupe BPCE, Caisse des Dépôts and Banque Postale. SEPAmail, like the many other data sources available in Trustpair, is seamlessly integrated into the platform.
Start protecting your company from payment fraud today!
Benefits of SEPAmail Diamond integration in Trustpair:
Key features of SEPAmail Diamond within Trustpair:
Validate French Vendors Instantly
- Mitigate the risk of fraud with unrivaled coverage rates in France
- Get reliable account validations on 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 SEPAmail Diamond data
- Enrich vendor information with SEPAmail Diamond data such as bank account status checks (open accounts, closed accounts etc.)
- Define real-time alerts and notifications based on information returned by SEPAmail Diamond
Automate Processes & Improve Team Collaboration
- Leverage SEPAmail Diamond 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 SEPAmail Diamond
Discover how finance teams successfully manage vendor fraud risk by incorporating SEPAmail Diamond into Trustpair’s innovative platform.
"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."
Frequently asked questions
Trustpair is a leading fraud prevention platform. We help 200+ clients smoothen their processes and reduce fraud, for more peace of mind. We fight B2B payment fraud by automating account ownership checks worldwide, throughout your whole P2P process.
Our solution offers direct integration to your existing technical ecosystem (SAP connector, API, etc.) as well as intuitive dashboards and real-time warnings in case of fraud attempts.
SEPAmail is a secure messaging system open to banks, originating from a coalition of major French banking groups, including Crédit Mutuel CIC, BPCE, Crédit Agricole, Société Générale, and BNP Pariba. SEPAmail ensures secure exchanges of information among banks, businesses, and individuals.
With its adaptable technology, SEPAmail spans across 400 European banks, offering a secure gateway to international financial activities. This innovative system not only digitizes traditional transaction methods but also guarantees data protection through its multi-level security approach, establishing itself as a pioneering solution for modern banking demands. SEPAmail comprises two active services: Aigue Marine and DIAMOND.653.
Payment fraud refers to the fraudulent use of payment information (account-number, card information, etc) to obtain money, goods or services. B2B payment fraud specifically targets companies: fraudsters find a way to divert funds from a company’s finances. It can concern different payment methods: ACH, wire transfers, etc.
B2B payment fraud takes many forms: CEO scams,wire-transfer scam, phishing, supplier fraud, etc. To summarize, it’s all the ways fraudsters can embezzle funds from a company.
One of the most common ways is using identity theft to change banking information and have money sent to fraudulent bank accounts. 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. Your Treasury team can handle payment processing with peace of mind and the confidence they’re paying the right merchants.
There are many explanations for the increase in payment fraud worldwide.
The switch of many financial institutions to digital banking is one of them. Indeed, online-banking – as well as mobile banking – and electronic payments have made it easier for fraudsters to divert funds, via cyberattacks. Although online-only operations have many advantages for corporations and banks alike, they require setting up additional security measures.
The increased sophistication of scammers is also a factor. They’re more organized, specialized and can easily infiltrate payment systems to make payments to their own banking account. That’s why it’s crucial to have multiple layers of protection: online security defenses but also anti-fraud software to block the financial effects of fraud.
In the US, the switch from check payments to electronic payment solutions is also an open door to payment fraud. Indeed, companies going paperless suddenly have a large amount of banking related data (merchant account numbers, account holders identity, etc) they have to handle to transfer funds electronically. This data needs to be managed – by a solution like Trustpair – to avoid fraudulent online payments and make sure finance teams send money to the right vendors.
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.