A comprehensive suite to verify the bank account details and match
entered name with account holder name.
Validate user’s bank account details without any transaction
Automatically extract all relevant details from the cancelled cheque
Fetch bank address, name and other details specific to the IFSC code
Fetch and validate user’s bank account details without any user input
Verify user’s bank account details by dropping ₹1 into their account
Recall details
Need for users to recall account no; and IFSC code
High drop-offs
Frequent vendor downtimes
No fall-back
Lack of automated fallback mechanisms
Multiple fallback opts & backup vendors to minimise drop-offs
Plug-&-play module for easy integration.
Analytics dashboard for identifying drop-off reasons
Access to all modes of bank account verification with one integration
What is Bank Account Verification (BAV)?
Bank Account Verification (BAV) is the process of confirming the legitimacy and ownership of a bank account. It is critical for businesses to ensure they are dealing with legitimate customers and avoid fraud.
How can I verify a bank account in India?
HyperVerge offers a comprehensive BAV solution specifically designed for the Indian market. Our suite provides various methods like Reverse Penny Drop (RPD), Penny Drop, Pennyless, Cheque OCR, and IFSC verification.
What is Reverse Penny Drop (RPD) and how does it work?
Reverse Penny Drop (RPD) is a BAV method where the user pays a small amount (typically ₹1) to initiate verification. This eliminates the need for users to remember account details and reduces drop-off rates.
The latest news, updates and more about KYC industries related market resources from our team.
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A Complete Guide to Bank Account Verification
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Beyond Basics: Navigating the Evolving Landscape of Bank Account Verification
