Verituity Verified Payout Platform

THE CHALLENGE:

There is an increasing need to manage evolving risk for fraud, regulatory expectations, digital payout transformation, and seamless digital pay-by-anything payee experiences in the rapidly accelerating digital payments world. VERITUITY’s cloud-based platform accelerates meeting the rapidly growing demand for faster, safer payouts and pay-by-anything payment choice.

THE OPPORTUNITIES:

Transform inefficient legacy payment systems into a verified digital payout platform - Verituity elevates contextual verification, intelligent processing, and payment choice to the core of payouts, unlocking operating efficiencies, safer payouts, and customer satisfaction.

Transform Sometimes Verified into Always Verified with Holistic Verification - Instead of verifying the identity of the payee at only one stage, Verituity’s holistic verification process verifies all aspects of every transaction using our machine learning-driven policy engine. Custom configured for each payer’s unique business rules, the Verituity platform orchestrates the verification of each transaction specific to the payer and payee’s identity, modality, and the chosen payment methods. All to ensure that the right payment is sent to the right payee via the right methodology, the first time and on time … every time.

THE VERITUITY PLATFORM:

Verituity’s verified payout platform connects Banks, Payers, and Payees through a digital, intelligent platform that places holistic verification, pay-by-anything, and an adaptive policy engine at its core. As a result, we uniquely strengthen payout speed, accuracy, and visibility and deliver pay-by-anything and anywhere payment choice while reducing complexity, risk, and costs.

THE VERITUITY APPROACH:

Consumerize Payout Choice - Intelligent, verified disbursements are reactive to the context of the payout, enabling payment choice for payees based on payment thresholds, processing costs, risk of payee, and cross-border constraints. Verituity engages payees in the context of the payer’s brand, establishing trust and expanding the payee’s relationship with the payer, increasing the fidelity of verification and delivering the payee’s preferred payment methods.

VERITUITY’s uniqueness comes from integrating identity and account verification throughout the entire end-to-end process of a bank’s digital payment ecosystem. Key features include

• Hyper-relevant web and mobile payment experiences that are bank controlled
• Integration of verification, payment, and value-added services into a unified experience
• Federated verification of identities, accounts and transactions based on bank rules
• AI-driven identity integrity that continuously scores identity and related links for risks
• Intelligent orchestration of payment methods within the bank’s core payment services
• Smart linking of loyalty and value-added services to an identity’s digital payments
• Automated data governance and compliance for PII and PCI based on bank established controls
• Open APIs and adapters that securely interconnect the bank’s payment ecosystem

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