PaymentKnox for AR
automated & secure cyberfraud prevention
leverage a technology-driven process to empower customers to validate your bank account details prior to making payments and prevent fraud
Incoming payments are at risk
Today’s cybercriminals are targeting B2B payments more than ever, with four out of five companies falling victim, according to the Association for Financial Professionals (AFP).
Your customers and business partners may also fall victim to payment fraud and unwittingly transfer funds intended for you to fraudulent accounts instead. The result is immediate damage to your cash flow and income.
To make matters worse, when fraudulent activity originates from within your organization – for example, as a result of a breached email account or acts of a bad insider – You may be held accountable for the loss rather than the paying customer. Reputational damage is added to the mix as well.
Bank Account Certificate - The only true source of truth
Bank Account Certificates (BAC) from nsKnox introduce a reliable and fraud-proof approach to sharing and verifying banking details.
BAC replaces outdated bank letters and void checks with a secure and verifiable document that can confirm the ownership of bank accounts for any account, anywhere in the world.
The certificate has all the relevant information needed to receive or send payments. It allows you to provide a free-of-charge service to your business partners to securely share, verify, store and protect bank account details and additional documents they may require (such as a bank letter or a W9 form).
It protects both paying and receiving entities and prevents payment fraud.
The power of AR fraud prevention
The quick & easy process
The quick & easy process
Register & validate
your bank account information
Inform customers
of the process when signing the commercial agreement and in the invoices that are sent
Customers verify your account details
searching the secured nsKnox database
nsKnox confirms
whether the details are valid, and that the payment can be securely transferred
Benefits
- Protect customers against fraud attempts on payments made to your account
- Reduce liability from fraud perpetrated by insiders
- Reduce risk of income lost to fraud
- Protect cash flow
- Enable customers to verify your account any time and in any language
Solution highlights
- Robust protection by nsKnox
Cooperative Cyber Security™ technology - Immediate implementation
- Zero IT efforts
- No changes to existing processes
Benefits
- Protect customers against fraud attempts on payments made to your account
- Reduce liability from fraud perpetrated by insiders
- Reduce risk of income lost to fraud
- Protect cashflow
- Enable customers to verify your account any time and in any language
Solution highlights
- Robust protection by nsKnox Cooperative Cyber Security™ technology
- Immediate implementation
- Zero IT efforts
- No changes to existing processes
Trusted by leading global brands
Let’s talk to see if our solution meets your needs
It’s powerful and easy,
with no effort from IT and no changes to current processes are required.
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.