Bank Account Verification

Prevent erroneous or fraudulent payments to the bank accounts of your suppliers or employees.

How confident are you that your supplier and employee payments are landing in the correct accounts?

Business Email Compromise cost organisations over $15 billion USD in 2023. The increased reliance on payment automation leaves many vulnerable to fraudsters manipulating bank accounts to siphon funds for their own nefarious ends.

It is critical that organisations introduce additional controls to check that new or changed bank accounts for suppliers and employees are verified and correct before processing payments to them.

Nothing Slips By

Automate the verification of supplier and employee bank accounts by checking BSB/Bank Account details against Australia’s largest repository of verified accounts and payments.

This way, you can ensure that the bank details are correct and authentic before making any payments.

The Satori Solution

Satori comes pre-integrated into Australia’s largest repository of bank accounts and payments. This means that any new or changed bank accounts for suppliers and employees are picked up by Satori’s continuous monitoring service and verified.

Combined with Satori’s Vendor Risk Management solution, Satori’s Bank Account Verification notifies customers of any exceptions or suspicious activity and helps them manage and rectify errors using Satori’s workflow capabilities.

Satori Bank Account Verification

Automated Bank Account Verification

  • Applies to both new and changed bank accounts
  • Applies to both supplier and employees
  • Verified against leading external bank account checking provider
  • Results fed back to Satori workflow
  • Can be used with or without Satori’s onboarding system
  • Runs checks before every payment is made

Get more Information

Continuous Control Monitoring
February 21, 2024

Are the big 4 audit firms devaluing Audit Analytics?

In recent years, businesses across the globe have been investing heavily in audit analytics to confirm and then enhance the effectiveness of their internal controls and risk management processes. This…
Continuous Control Monitoring
January 31, 2024

Are you at risk of overreliance on self-assessments and attestations?

In the realm of governance, risk management, and compliance (GRC), self-assessments and attestations have long been the conventional methods for gauging adherence to regulations and standards. Whether used for supplier…
Continuous Control MonitoringERP Implementation
December 7, 2023

Procure to Pay: The hidden truths about your ERP

ERP is an essential business tool that plays many vital roles. However, because ERP capabilities are so varied, they can often be relied on for things that they shouldn't be.…
TRUSTED BY OVER 200+ ORGANISATIONS
Satori Customer MMG Mining

“I would recommend Satori to any organisation that wants to be on top of their game by having the ability to be warned and protected 24/7 *365 days a year. 100% testing run daily on high-risk assertions wouldn’t be possible without this tool doing its magic in the background.”

Yuliya Gultekin - Manager Audit and Assurance, Risk and Assurance TeamWaka Kotahi New Zealand Transport Agency

“Satori takes our data, puts it through their magical system, and presents it back to us in an actionable format.”

Principal Fraud and Corruption ControlGovernment Utilities

Contact Us

Complete the form below and a specialist from our team will be in touch with you as soon as possible

"*" indicates required fields

*We don't use automated robot follow-up emails and we won't email you unless you indicate you would like to be contacted below.
What is the next step towards VRM for you?*
If you think our questions are comprehensive, wait until you meet our top-notch data scientists, project managers & customer care team.
We are also interested to know, what is the name of your department?