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Did you know that the average loss per invoice fraud case is $125,000? With the rise of ePayments, new fraud types have emerged, making prevention more crucial than ever.
More than half of AP organizations now rely on data and intelligence to enhance fraud detection efforts. At Corcentric, your suppliers’ security is our highest priority. We have integrated a state-of-the-art validation system that protects both our customers and their suppliers from potential fraud.
We call it StopFraud™ because our system does just that: It stops potential fraudulent activity dead in its tracks. Success Story: Discover how a major restaurant chain used StopFraud to avert fraud and increase their annual revenue by $60,000.
Corcentric’s StopFraud™ validation solution for AP Payments includes:
- A 12-point payment validation program
- Enhanced security and compliance measures
- Comprehensive information verification and management
- Efficient process and relationship management
“I’ve never had one of our virtual card recipients have a fraudulent issue with payments.”
AP MANAGER
12 VALIDATION STEPS
Assignment of a Customer-Specific Access Code
W-9s Required for Any TIN Match Failure
Prenote Validaton
Profile Authorization Form
Office of Foreign Assets and Control (OFAC) Individual & Company Validation
US Postal Service Address Validation
Physical Call Out/Call Back
Assignment of a System Administrator
Tax ID Number Matching Validation
Website Scan Validation
Dual Factor Authorization
Politically Exposed Persons (PEP) Individual & Company Validation
Corcentric offers a full range of payment methods for organizations seeking increased efficiency, protection, and even cash back on qualified ePayments. You can now process and protect all your payments including ACH, virtual card, ACH+, and paper checks.
Ready to take the next step?