Trustpair, the Future of Fraud Management for Treasurers

With Trustpair, monitor your third parties and avoid vendor fraud.. Secure your payment processes and keep your company’s cash safe.

treasurer
Fraud Prevention Challenges for Treasurers
Protect Assets
96% of US businesses were targeted by vendor fraud at least once in 2023. Secure your financial processes and company cash with automated account validation.
Optimize Payments
Manual third-party controls are time-consuming and fallible. Boost your treasury’ team’s efficiency and break down silos thanks to automation.
Digitalize Treasury

Payment processes are vulnerable to vendor fraud from start to finish. Implement best-in-breed software integrated directly in your TMS.

Fraud Risks, a Critical Threat for Treasurers


Fighting fraud is a constant challenge for treasurers. Losing money to fraudsters means:

Secure Your Payment Processes

Prone to errors and fraud, the payment chain is at risk. Increase payment process security with Trustpair to prevent payment errors and wipe out the risk of vendor scams.

Thanks to Trustpair, your Treasury department can rely on accurate, comprehensive and up-to-date vendor information and get a better handle on risk management.

Reach 100% Payment Process Compliance

Keeping up to date and complying with all regulations related to payment processes is complex. Have visibility on third-party controls and keep track of the actions taken in accordance with the legal requirements.

Account validation is one of the key actions organizations need to do well to protect themselves and remain compliant with US, UK, and European laws.

Trustpair provides automated account validation before any payment is sent, enabling Treasury Teams to be compliant even in case of vendor data changes.

How does Trustpair help Treasurers?

Trustpair leverages the most effective combination of banking data, smart algorithms, and human expertise to spot any suspicious activity before any payments are sent.

We have access to the most comprehensive network of bank account databases on the market to provide thorough automated account validation, all of that in real-time.


The results? Total protection against the risk of fraud, both from direct cyber attacks and social engineering attacks.

Treasury departments have more peace of mind and can function easily. Your team can focus on managing the challenges of treasury management without having to worry about vendor fraud. Trustpair is the tool to adopt to be more efficient, compliant, and secure.

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efficiency

Boost Team Efficiency And Collaboration

The treasurer is not the only one to deal with payment security issues: operational teams and finance managers are also involved. Efficiency and collaboration are therefore critical for smooth and secure processes. Collaborating on one platform breaks down silos and ensures 360° collaboration.

As companies grow, traditional fraud prevention and third party controls can reduce productivity.

Manual fraud prevention controls (by email, text message, callbacks, etc) take up at least 30 minutes for one vendor. With Trustpair’s automated instant validation, results are instant.

The Key Benefits of Using Trustpair

0 successful fraud

at any of our 300+ clients

190 countries

covered by our banking data sources

90%

of vendor evaluations delivered instantly

Your fortress against vendor fraud

Experience Seamless Security in Action. Request Your Demo Today !

FAQ

Frequently asked questions

Browse through our different sections and find the answer to your question.

Treasurers hold a unique position within the company – they have access to and responsibility for the company funds. Of course, many treasury departments use tech and physical barriers to ensure this money remains secure. But fraudsters are creating increasingly more complex scams to target the accounting and treasury departments.

Think about it: the treasury department is a mecca for the movement of money, making missing funds much easier to hide. With responsibilities like budgeting, complying with the IRS, and documenting expenses, it’s easy for the day-to-day work to take over (and fraud attempts to go under the radar).

While other departments are restricted by budgets or the need to request approvals, treasurers are the team that controls the company budgets and approves or denies those request

Treasury departments are vulnerable to three main types of fraud:

  • Transaction fraud – like vendor fraud: Fraudsters create fake invoices or alter legitimate ones, changing banking details to divert payments. This can damage supplier relationships and the company’s reputation.
  • Impersonation fraud – like CEO fraud: Scammers pose as senior executives, often using hacked email accounts, to request urgent fund transfers or sensitive information. They may also impersonate IT staff, legal entities, or even government agencies like the IRS.
  • Internal fraud: Trusted employees within the treasury department abuse their access to internal systems, diverting funds for personal gain. They may manipulate legitimate invoices or create compliant transactions to avoid detection.

These frauds exploit vulnerabilities in payment processes, communication channels, and internal controls, highlighting the need for robust security measures and vigilant oversight in treasury operations.

Trustpair offers innovative solutions to address the evolving challenges Treasurers face:

  • Fraud Prevention: With the rising number of financial scams, Trustpair provides automated account validation to protect against fraudulent transactions and identity theft.
  • Global Operations: The platform covers 200+ countries, enabling secure international payments and vendor management for global businesses.
  • Efficiency: By automating time-consuming manual processes, Trustpair allows treasury teams to focus on strategic financial operations and liquidity management.
  • Compliance: The system ensures compliance with regulations by maintaining a reliable audit trail and offering contextualized vendor assessments.
  • Technology Integration: Trustpair’s flexible integration modes allow seamless connection with existing corporate finance systems, enhancing overall treasury operations.
  • Real-time Insights: The platform provides instant validation results, giving Treasurers up-to-date insights into payment processes and vendor legitimacy.
  • Cybersecurity: Trustpair helps mitigate risks associated with email scams and social engineering attacks, a growing concern in digital treasury management.

By addressing these key areas, Trustpair equips Treasurers with the tools to navigate future challenges in an increasingly complex and digital financial landscape.

Financial fraud prevention refers to the strategies and measures organizations implement to protect their assets from fraudulent activities. It involves:

  1.  Implementing robust internal controls and security protocols
  2. Utilizing advanced technology solutions for transaction monitoring
  3. Conducting regular risk assessments and audits
  4. Training employees to recognize and report suspicious activities
  5. Verifying the identity and legitimacy of vendors and third-party partners
  6. Securing digital communications and payment processes
  7. Monitoring for unusual patterns or behaviors in financial transactions
  8. Establishing clear policies and procedures for handling financial data
  9. Employing multi-factor authentication for sensitive operations
  10. Staying updated on the latest fraud trends and adapting prevention strategies accordingly

 

Effective financial fraud prevention requires a comprehensive approach that combines technology, processes, and human vigilance to safeguard an organization’s financial assets and maintain the integrity of its operations. It’s an ongoing process that evolves with new threats and technological advancements.

Automate Safely
Our software automates vendor controls, reducing time-consuming and manual processes, prone to human errors and fraud. Your teams will gain time and peace of mind.

Gain Efficiency
We offer flexible integration modes and can easily connect to your existing TMS, designing an easy-to use solution suited to your specific business

Control Globally
Confidently validate vendor bank accounts globally and validate vendor legitimacy across 200 countries thanks to the most comprehensive banking data sources network

TESTIMONIALS

Voices of trust
Explore how our solutions have empowered businesses like yours 
to fortify against fraud and build a resilient financial ecosystem.
malika befares
Malika Benfares
Head of Treasury and Consolidation
sade-telecom-logo

"Trustpair gives us more reliability and peace of mind. The financial director is more serene when it comes to approving the transfer order."

Michele Bruno
Michele Bruno
CFO and Treasurer
decathlon-logo

"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."

Joffrey Tabouret
Joffrey Tabouret
Head of Treasury and Financing
leaseplan-logo

"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."

Fabrice meunier
Fabrice Meunier
Administrative and Financial Manager
keys-logo

“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.”

Fanny Harquel
Fanny Harquel
Accountability Manager
octopharma-logo

“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.”

Colin Cesena
Colin Cesena
Middle Office Treasury Manager
axereal-logo

"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."

Mechain Etienne
Etienne Mechain
Financial Manager
groupe-dehon-logo

"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."

mauro portela
Mauro Portela
GBS - Managing Director Global MDM Operations
danone

Thanks to Trustpair, we’ve made a significant shift in our security processes and filled the gaps we needed to fill. Trustpair has proved to be a committed and trustful partner and we’ve appreciated the support and transparency.

Monika Razny
Monika Razny
Treasury and Corporate Finance Manager
edf renewables

We’ve gone from manual and time-consuming fraud controls to automated bank account validation done directly in SAP. The workload has been drastically reduced and payment security is now guaranteed.

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