Verituity is a digital payments platform that utilizes Zero Trust Payout Verification™ to ensure first-time and on-time verified payouts for banks and businesses, significantly reducing payment fraud and errors. The platform offers dynamic payment choices, enhancing user satisfaction while lowering operational costs and complexities associated with traditional payout processes.
Funding
$28.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
- Startup funding source · Source unavailable
- Startup funding source · Source unavailable
Founders
Product
Problem
Businesses face challenges with payment errors, fraud, and delays in their disbursement processes, leading to increased operational costs and reduced payee satisfaction. Traditional payout methods often lack adequate verification mechanisms, resulting in payouts to incorrect accounts and creating security vulnerabilities. Payees also have limited choices in how they receive their funds, leading to frustration and inefficiency.
Solution
Verituity offers a digital payouts platform that leverages Zero Trust Payout Verification™ to ensure accurate and secure disbursements for businesses and banks. The platform verifies payee and account details before initiating payments, reducing fraud, errors, and exceptions. Verituity also provides intelligent payment choice, allowing payees to select their preferred payment method, including ACH, Wire, Zelle®, RTP®, push to debit, virtual card, and check. By automating payout instructions and processing, Verituity streamlines operations, lowers costs, and enhances the overall payout experience for both payers and payees.
Target Audience
Verituity targets banks, insurance companies, and businesses across various industries that require efficient, secure, and flexible digital payout solutions.
Features
- Zero Trust Payout Verification™ to validate payee and account information in real-time
- Dynamic payment choice, offering multiple disbursement options to payees
- Turnkey payout instruction and processing automation
- Branded, custom experiences for payees within the payer's ecosystem
- Reduction in payment errors, fraud, and remediation efforts
- Enhanced PII, PCI, and security compliance
- Support for cross-border payments with data compliance