iDenfy bank card verification platform goes live for partners

iDenfy bank card verification is now available as a standalone product inside the company’s software dashboard, the identity verification and fraud prevention provider said. The launch gives partners a separate way to run card checks, with dedicated API endpoints, product settings, permissions and billing rather than requiring the full identity verification stack.

The company said partners can create verification requests, generate links and tokens, send email invitations and review outcomes from a central dashboard. iDenfy said the product is aimed at businesses that need to confirm payment card ownership without attaching that check to a broader onboarding process.

Domantas Ciulde, iDenfy’s chief executive, said the company had seen repeated demand from regulated-sector partners for card checks as a separate service. “Not every partner that needs to confirm a bank card requires a full identity verification flow running alongside it,” Ciulde said.

How does iDenfy bank card verification work?

When a business turns on the flow, the end user receives an invitation link and is asked to prove card ownership. iDenfy said users can complete the check by capturing the card with a smartphone or another device camera, such as an iPad or laptop camera, or by uploading a card confirmation document that verifies the owner.

Businesses may also ask users to enter the final four digits of the card to improve accuracy, according to iDenfy. The company said its system reads only the card number and name, and does not capture or store the card verification value, or CVV, because that is sensitive authentication data.

After the user provides the required information, iDenfy said it extracts the relevant authentication data and sends results to the client in real time through API and SDK connections. The company said the dashboard can be activated without additional coding, while integrations are available through API, iFrame or mobile SDK.

What compliance problem is the platform targeting?

Bank account verification confirms whether an account is valid and whether it belongs to the person claiming control of it. Companies use such checks in online payments and onboarding to reduce fraud risk, including account takeover and the misuse of stolen credentials.

iDenfy said validated banking data can support compliance with European Union PSD2 rules for safer online payments, as well as anti-money laundering and counter-terrorist financing frameworks. The company also cited the Instant Payments Regulation as a driver of demand for faster ways to verify who controls an account.

The company said its expanded open banking capabilities allow businesses to retrieve identity details such as name, surname, IBAN and bank information directly from an account, then compare those details with account ownership. iDenfy said the data is used for verification purposes without retaining sensitive banking information beyond what the check requires.

iDenfy said its modern API-based approach can verify bank accounts in real time, compared with older micro-deposit methods that can take several days. The company said its open banking coverage spans more than 2,500 banks across 29 European countries.

Ciulde said centralising requests and results in a single dashboard is intended to reduce manual tracking for partners that process card checks at volume. The bank card verification page and expanded open banking features are available now to iDenfy partners, with setup support from the company’s team.

This story draws on original reporting from Finextra Research.