Payment Check
Finance & IT systems are under attack
Today’s payment processes are typically fragmented, involve multiple stakeholders, and do not focus on assuring the validity of the payee and their bank account details.
This approach makes for a vulnerable process where data in finance and IT operations systems can be easily manipulated by both internal and external threat actors.
What organizations need today is a technology-driven and automated approach to making sure that no one within or outside the organization can manipulate payment file data.
The PaymentKnox™ path to confidence
Upload payment file
to the PaymentKnox portal
Scanning & analysis
by nsKnox technology
Exception report sent
& invalid payments blocked
Powerful protection of every payment run & proposal
Solution Highlights
Checks
Supports
Prevents
Eliminates
Protects
Protect payment runs & proposals
Real-time analysis of payment files
via integration with company systems for continual synch, or via nsKnox portal with proactive upload
Preventing manipulation of payment data
via integration with company systems for continual synch, or via nsKnox portal with proactive upload
Blocking payments to accounts not on the master data
via integration with company systems for continual synch, or via nsKnox portal with proactive upload
Preventing manipulation of payment data
via integration with company systems for continual synch, or via nsKnox portal with proactive upload
Trusted by leading global brands
FAQs
What is Payment Check™?
Payment Check™ is nsKnox’s final-stage transaction scanning solution. It scans every payment in a batch immediately before the payment run is submitted – acting as a last line of defense to catch anything that may have changed or been manipulated after earlier controls ran.
Example: A payment file is approved and ready for release. Between approval and submission, a bad actor alters an account number. Payment Check™ detects the discrepancy and flags it before the funds leave.
What exactly does Payment Check™ scan for?
For every transaction in the payment batch, Payment Check™ checks:
- Whether the destination account is validated and authorized in the nsKnox database
- Whether the account details match the validated payee record on file
- Whether any payment instructions have been altered since the last validation
- Whether any new payees or account numbers appear that haven’t been validated
Any discrepancy triggers an alert before the payment is released.
Can it handle large payment batches?
Yes. Payment Check™ processes large volumes in real time with no delays to your payment cycle. It is designed to scale with the needs of enterprise finance teams handling thousands of transactions per run.
Let’s talk to see if our solution meets your needs
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.