Bank Account Certificates
the only fraud-proof approach to validating and sharing bank account details
Outdated, manual processes for validating and sharing bank account details are at the heart of cyberfraud manipulations. That’s because these processes are very vulnerable, leaving both the paying entity and receiving organization exposed to cybercrime.
A Bank Account Certificate™ is a fraud-proof digital credential issued by nsKnox that proves the verified ownership of a bank account. It replaces outdated, easily forgery methods of sharing bank details, including bank letters, void checks, and email confirmations, with an encrypted, cryptographically signed, and tamper-evident document.
nsKnox verifies the accuracy and authenticity of the bank account details before issuing the certificate, and stores them in the nsKnox global data repository. Any attempt to alter the certificate is immediately detectable.
The key difference is tamper resistance.
A traditional bank letter or PDF can be edited with basic software. It is not verified directly by the bank, and there is no way to detect tampering in real time.
A void check can also be altered because it is simply an image of a check. Like a bank letter, it is not bank-verified and provides no real-time alert if information is changed.
A Bank Account Certificate™ is different because it is cryptographically signed, making it extremely difficult to forge or modify. The certificate is verified by the bank, and any tampering can be detected immediately through real-time validation.
In summary: bank letters and void checks rely on visual inspection and trust, while a Bank Account Certificate™ provides bank verification, cryptographic protection, and real-time tamper detection.
In seconds, through:
They enter or scan the certificate details, and nsKnox instantly confirms whether the account is valid, current, and unaltered.
An alert is triggered when:
The alert is sent immediately to relevant stakeholders and, at the customer’s discretion, can automatically hold the payment pending investigation.
nsKnox is a fintech-security company, enabling corporations and banks to prevent fraud and ensure compliance in B2B Payments. Founded and led by Alon Cohen, Founder & former CEO of CyberArk (NASDAQ: CYBR), nsKnox solutions help organizations avoid significant financial losses, heavy fines, and reputational damage.
Leveraging its patented Cooperative Cyber Security™ (CCS) and groundbreaking Bank Account Certificate™ technology, nsKnox’s solutions detect and prevent finance & ops infrastructure attacks, social engineering, business email compromise (BEC), insider-fraud and other Advanced Persistent Fraud attacks.