What role does bank verification (BAV) play in fraud prevention?

الوصف

Bank Account Verification (BAV) ensures the provided bank account actually belongs to the intended recipient, preventing fraud and fund misdirection. BAV systems check account holder names, IFSC codes, and active status in real-time. Businesses that process bulk payouts or salaries rely on this verified BAV integration to reduce errors and improve fund traceability. Startups usually need to move fast with minimal resources. Manual KYC, BGV, and employment verifications consume time and cost. With automated digital onboarding, startups can focus on growth while maintaining compliance and security. This all-in-one onboarding suite is a favorite among early-stage founders aiming for zero-delay hiring and customer onboarding.