iDenfy, renowned for its identity verification and fraud prevention technology, has introduced a new Bank Card Verification module to enhance its software offerings.
This development enables iDenfy’s partners to handle bank card verifications independently while maintaining robust security standards. Partners can now initiate verification requests, generate links and tokens, send email invitations, and review results from a centralized view, all through customized API endpoints and configurations.
Comprehensive Identity Verification
The bank account verification process plays a crucial role in confirming the ownership and validity of a bank account, significantly mitigating the risk of fraudulent online bank payments. By separating bank card verification from the broader identity verification suite, iDenfy allows clients who require only card verification to access tailored API endpoints, configurations, and billing options without needing the full identity verification stack.
Domantas Ciulde, CEO of iDenfy, highlighted the demand from partners in regulated sectors for a standalone bank card verification solution. "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 centralized view and configurations, rather than an added feature, so partners can pick it up on its own terms," explained Ciulde.
Simplified Verification Process
Users may also be asked to input the last four digits of their bank card for increased accuracy
The bank card verification process is straightforward for end users. Upon receiving a verification link, the user can confirm card ownership by taking a photo with a smartphone or any device with a camera, or by uploading a card verification document. Users may also be asked to input the last four digits of their bank card for increased accuracy. Importantly, sensitive information like the card verification value (CVV) is never captured or stored, aligning with strict data protection standards.
iDenfy’s platform ensures compliance with data protection regulations, safeguarding users against data breaches and fraud. Successful authentication facilitates real-time data transfer to clients while bypassing the need for additional actions. Validated banking data helps prevent identity fraud, aligning with PSD2 regulations and other compliance mandates. Real-time APIs significantly reduce verification time, contrasting older methods such as micro-deposits which could take days.
Streamlined Operations
Businesses can seamlessly retrieve and cross-check identity details—like name, surname, IBAN, and bank information—directly from accounts. This data is strictly used for verification without storing sensitive information beyond necessary parameters. "Centralizing 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," Ciulde added.
The new Bank Card Verification feature, alongside expanded open banking capabilities, is now available to iDenfy partners who can integrate the system via API, iFrame, or mobile SDK. iDenfy provides support to ensure a seamless setup with no additional coding required for activating 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 centralized 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 centralized 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.
Centralizing 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.
“Centralizing 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.
