Fraud prevention platform Trustpair announced the integration of investment bank JPMorgan’s blockchain-based solution Confirm to verify bank account information on Oct. 1.
Confirm is a closed network for global account validation information built on Liink, the enterprise-focused permissioned and private blockchain developed by JPMorgan’s Onyx division.
Gloria Wan, Executive Director at Onyx by J.P. Morgan, stated that Confirm was created to provide collective intelligence to improve decision-making for companies. She added:
“Businesses operate in a data-driven world, yet many still rely on inaccurate vendor and payment data when making high-value transactions, which significantly raises companies’ risk of fraud, payment errors, and delays.”
As a result, Trustpair’s over 200 customers — including companies such as Societe Generale, Decathlon, and Danone — can now verify vendor bank accounts across 15 global markets, reducing the risk of payment fraud and payment delays.
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