ibana provides a transaction analysis and recipient verification platform that automatically checks and validates bank account information to prevent financial fraud. By utilizing algorithms to detect anomalies and suspicious patterns, ibana helps businesses mitigate the risk of human error and phishing scams, ultimately protecting their financial integrity.
Funding
Funding not disclosed
Founders
Product
Problem
Financial fraud, often stemming from human error and phishing scams, costs companies billions annually. Traditional methods lack automated checks, leaving businesses vulnerable to incorrect bank information and fraudulent invoices.
Solution
ibana is a transaction analysis and recipient verification platform designed to protect businesses from financial fraud. The platform automatically analyzes and checks planned transactions, using algorithms to detect anomalies and suspicious patterns. Recipient verification confirms the accuracy of bank information, preventing payments to fraudulent accounts. ibana also offers executive verification, enabling a secure channel for double-checking suspicious transactions with superiors.
Target Audience
ibana targets finance departments within both Fortune 500 companies and SMBs seeking to mitigate financial fraud risks and protect their bottom line.
Features
- Automated transaction analysis to detect anomalies and suspicious patterns.
- Recipient verification to ensure bank information is correct and matches the intended recipient.
- Executive verification feature for secure double-checking of suspicious transactions.
- Seamless import and export of transactions in .csv or ISO20022 .xml formats.
- Customizable company rules to define which transactions require additional scrutiny.
- GDPR compliance with servers located in Germany adhering to strict security standards.
- MFA authentication for enhanced account security.