iDenfy has unveiled a new Bank Card Verification platform, enhancing its existing software dashboard. This update empowers iDenfy's partners to independently oversee bank card verifications, separate from the core identity verification metrics, while maintaining rigorous security measures.
The upgrade allows partners to initiate verification requests, create links and tokens, send email invitations, and review outcomes from a centralised interface, all customizable through their own API endpoints, configurations, permissions, and billing systems.
Comprehensive verification process
Verifying bank accounts confirms their validity and authenticity of ownership, a crucial step in minimising online banking fraud.
Unlike traditional verification methods that bundle card checks within broader onboarding processes, iDenfy offers specialised API endpoints, configurations, permissions, and billing options. This design enables partners needing only card verification to access these features without adopting the full identity verification suite.
Tailored card verification flow
Additional steps may include entering the last four digits of the bank card to enhance accuracy
Domantas Ciulde, CEO of iDenfy, noted, "Not every partner that needs to confirm a bank card requires a full identity verification flow running alongside it. We kept hearing that request, so we built bank card verification as its own product, with centralised view and configurations, rather than an added feature, so partners can pick it up on its own terms."
Once enabled, end users receive a verification link to confirm card ownership by capturing it with a camera or uploading a document. Additional steps may include entering the last four digits of the bank card to enhance accuracy. Importantly, only non-sensitive data, like the card number and name, is processed, excluding the card verification value (CVV), ensuring compliance with stringent security regulations.
Securing sensitive financial data
The process aligns with prioritising security by preventing fraud and database breaches. Successful logins allow iDenfy to deliver real-time authentication data to partners via API and SDK.
By verifying banking data directly from banks, the risk of identity fraud, such as account takeovers, is reduced, adhering to European regulations like PSD2 and anti-money laundering directives. The Instant Payments Regulation (IPR) further promotes swift and reliable account control verification.
Streamlined verification and integration
The Instant Payments Regulation (IPR) further promotes swift and reliable account control verification
Direct bank data enables rapid due diligence checks, surpassing traditional, slower processes like micro-deposits. iDenfy's real-time APIs facilitate instant verification for compliance across 29 European countries from over 2,500 banks. Businesses can retrieve essential identity information, cross-check it with account ownership, and utilise it strictly for immediate verification needs without storing unnecessary sensitive information.
Domantas Ciulde, CEO of iDenfy, commented, "Centralising verification requests and results in one dashboard view might sound like a small operational detail, but for partners processing card verifications at scale, it removes a lot of manual tracking that used to happen outside our platform."
The Bank Card Verification platform, alongside extended open banking capabilities, is now accessible to iDenfy partners. The integration supports API, iFrame, and mobile SDK, offering seamless setup with support from iDenfy's team, eliminating the need for additional coding to activate the dashboard module.
iDenfy, the global identity verification, compliance, and fraud prevention solution platform, has announced the launch of a Bank Card Verification platform within its software dashboard.
This new upgrade gives iDenfy’s partners the ability to manage bank card verifications on their own, separately from iDenfy’s core identity verification flow metrics, while still relying on the same level of security. As a result, partners can create verification requests, generate verification links as well as tokens, send invitations by email, and review results from a centralised view, all supported by their own API endpoints, configurations, permissions, and even billing.
Full identity verification
Bank account verification is a process that confirms the validity of a bank account and whether it belongs to the person who claims its ownership. It is commonly used for online bank payments to reduce the risk of fraud. Rather than treating card verification as a feature bundled inside a broader onboarding flow, iDenfy has built it out with its own API endpoints, product configurations, permission settings, and billing options, so partners that only need card verification are not required to adopt the full identity verification stack to access it.
According to Domantas Ciulde, the CEO of iDenfy, the update reflects a broader repetitive pattern the company has noticed among partners that operate across regulated industries.
Bank card verification flow
“Not every partner that needs to confirm a bank card requires a full identity verification flow running alongside it. We kept hearing that request, so we built bank card verification as its own product, with centralised view and configurations, rather than an added feature, so partners can pick it up on its own terms,” said Domantas Ciulde.
When a business enables the bank card verification flow, the end user simply receives a verification link by invitation; the end user has to verify the bank card by choosing and verifying the card ownership in two ways: either by capturing it with the smartphone as well as any other device such as an iPad or laptop integrated camera, or uploading a card confirmation document that verifies the owner.
Sensitive authentication data
As an option, users can also be asked to enter the last 4 digits of their bank card to ensure greater accuracy. It is important to note that only the card number and the name are read, and the card verification value, also known as CVV, is not captured or stored because it is classified as sensitive authentication data.
iDenfy strictly complies with regulations and protects users from database breach attacks and fraud exposure. Once that login succeeds, iDenfy extracts the relevant authentication data and passes it to the client in real time through API and SDK, without needing to do any further action.
Validated banking data
Validated banking data reduces the risk of identity fraud, including account takeovers and the misuse of stolen credentials. By confirming payment ownership and transaction history rather than relying on a document that can be forged or reused. It also helps businesses to stay aligned with PSD2 European Union rules that make online payments safe, as well as anti-money laundering and counter terrorist financing frameworks. Newer requirements such as the Instant Payments Regulation (IPR) also push institutions toward faster and more verifiable ways to confirm who actually controls an account.
Because the data comes directly from the bank rather than a submitted document, due diligence checks move faster too; With providers like iDenfy, bank accounts can often be verified instantly using real-time APIs. Older methods like micro-deposits might take a few days, but modern systems give compliance teams real-time, instant access to validate banking data across 29 countries from more than 2,500 banks in Europe.
Centralising verification requests
Once a user provides needed data, businesses can automatically retrieve identity details such as name, surname, IBAN, and bank information directly from the account, cross-check those details against account ownership, and use that data solely for verification purposes without storing sensitive banking information beyond what verification requires.
“Centralising verification requests and results in one dashboard view might sound like a small operational detail, but for partners processing card verifications at scale, it removes a lot of manual tracking that used to happen outside our platform,” added Domantas Ciulde, the CEO of iDenfy.
Both the Bank Card Verification page and the expanded open banking capabilities are available now to iDenfy partners, who can integrate through API, iFrame, or mobile SDK, with support available from iDenfy’s team for a smooth setup and no additional coding required to activate the dashboard module itself.
