Satori, who powers leading companies like Qantas and Lendlease, has acquired 100% of OK2Pay’s Bank verification business. OK2Pay provides Australia’s only bank-verified Account Verification Service.
OK2Pay verifies your supplier’s bank account details before payment is made, ensuring funds are always being paid into the correct account. It provides a range of solutions under the one service, including vendor verification, onboarding, management, payment and audit.
The addition of OK2Pay further powers Satori’s solution, which provides complete visibility over financial processes and reduces instances of error and/or fraud.
Across the last three years, increasing phishing and business email compromise attacks have seen businesses lose up to a billion dollars through incorrect payments. Satori and OK2Pay provide a second line of defence for companies, ensuring complete protection of vendor payments.
“Satori is focused on offering a complete financial solution to our clients and the addition of OK2Pay allows us to deliver this,” said Satori Executive Director Mark Bookatz. “We know both businesses and banks are being heavily impacted by bank account fraud and are desperately working to stamp it out. The addition of OK2Pay greatly complements our partnership with CBA and provides Australian businesses with the only bank-verified account verification service in the country.”
OK2Pay is now available to both new and existing Satori clients. Further information about the service can be found at ok2pay.co
