Experian and iPiD partner for global bank

Experian and iPiD announced a partnership today to provide enhanced global bank account verification for UK businesses. The service is designed to help firms operating in European and international markets reduce risk and prevent fraud.

As cross-border business grows, verifying account ownership quickly has become critical. The partnership combines iPiD's global verification capabilities with Experian's data and analytics. This creates a more comprehensive approach through a single solution.

Expanded verification coverage

The collaboration builds on Experian's existing UK account verification. It now extends coverage to Single Euro Payments Area (SEPA) markets and other key international regions. These include the Americas, Africa, Asia, and the Middle East.

Experian states it is the only credit reference agency to offer both UK Confirmation of Payee and Verification of Payee capabilities across SEPA markets. Through this partnership, Experian's clients gain access to iPiD's verification network.

Key benefits for businesses

The companies list several benefits for businesses using the new service.

It reduces reliance on manual checks. iPiD verifies accounts in 2.3 seconds without requiring extra action from the customer. This is compared to slower methods like Optical Character Recognition of bank statements.

The service aims to deliver better customer experiences. Verification adds negligible friction to payee onboarding, ensuring a faster process. This contrasts with methods requiring manual document uploads or redirects.

It is intended to strengthen fraud prevention. iPiD flags perfect, partial, and no matches, helping organisations understand risk. Additional friction is only added where necessary, while good matches proceed.

The partnership allows verification across domestic and international markets through one solution. Coverage is across 30 countries at launch, with plans to expand towards 90% of the world's banked population.

It helps businesses make more informed payment decisions using enhanced verification and trusted data insights.

Executive perspectives

Paul Weathersby, Chief Product Officer for Identity and Fraud at Experian UK&I, commented on the deal. "Our clients operate across markets with very different verification standards, and that inconsistency creates real friction and risk," he said. Weathersby stated that bringing iPiD's capability into Experian's platform offers a single, reliable way to confirm account ownership globally.

Damien Dugauquier, Co-Founder and CEO of iPiD, also provided a statement. "Payee verification is becoming the foundation of trust for how money moves globally," he said. Dugauquier argued that as payment initiation shifts to systems and AI-driven agents, knowing you are paying the right party must happen automatically and instantly. He said this partnership brings that certainty to Experian's clients on a global scale.

The service is positioned as a response to the shift from manual payment flows to automated systems. The companies believe it reflects the future direction of all payments.