Cybercriminals are increasingly targeting corporate payments in their efforts to defraud organizations out of millions of dollars.
With the escalation of attacks and financial damages, it is clear that existing controls and security measures are simply not robust enough and remain extremely vulnerable to cyber-attacks, social engineering and insider fraud.
What finance leaders need is a new way to protect corporate payments, by:
The Global Payee Database™
contains the details of suppliers from around the world, enabling organizations to seamlessly and easily validate, and continually verify supplier details before making payments, thus avoid the damage of social engineering attempts to intercept payments.
Standard Account Validation™
is a service for validating bank account details during vendor onboarding or when making changes to the bank account on record. This highly secured, yet quick and easy process overcomes the weaknesses of today’s means for validating account details, which are commonly and easily exploited by cybercriminals.
detects and prevents cyberfraud attempts in real time. It verifies every destination account before payments are transferred, generates alerts to changes made to the Master Vendor File (MVF) and blocks payments that are detected as on route to unauthorized accounts. TxAuthority ensures that every payment is transferred only to the intended supplier and account, every time, keeping fraudsters at bay with supremely robust cyberprotection.
Cooperative Cyber Security™ (CCS)
ensures that all vendor and payment related data can’t be accessed by unauthorized users. It is a unique, tamper-proof nsKnox platform, underlying all our solutions. Protection is ensured by digitally shredding data, encrypting each separate piece, and storing them across multiple, distributed, highly-secured networks.