PaymentKnox for Accounts Payable

robust outgoing payments protection
continuously verify banking details to prevent cyberfraudsters from ‘hijacking’ payments

Outgoing payments are at risk

Cybercriminals today are using ever-more sophisticated techniques, such as vendor impersonation, business email compromise (BEC), and social engineering, to divert outgoing corporate payments to their own fraudulent accounts. As their success rates grow so does the financial damage incurred by targeted organizations.

89 %

of cyberattacks
use social engineering

$ 3 B

in losses due to
BEC in 2020

The 3 pillars of powerful payments protection

PaymentKnox™ for Accounts Payable introduces a technology-driven approach that enables organizations to minimize the risk of human error and prevent unauthorized payments. The offering is comprised of three solutions:

Account Validation

of domestic and international accounts through a unique combination of advanced technologies, rigorous validation techniques, and public and private database searches

Master Data Guard

for an automated and highly secure verification process that ensures that master payee data is current, accurate, and hasn’t been tampered with

Payment Check

by scanning and analyzing payment transactions to ensure that every payment is made only to validated payees and accounts

Unprecedented benefits

Zero errors

from manual processes that are prone to social engineering attacks

Detection & alerts

to payment and master data discrepancies, as well as payment files manipulation attempts

Automated assurance

of bank account ownership and details accuracy

Early action

to assure that payments are made only to intended recipients

Trusted by leading global brands

Get the PaymentKnox™ Essentials service for free for the first 60 days

It’s powerful and easy, with no effort from IT and no changes to current processes are required.