Experian, iPiD partner for global business

Experian and iPiD have announced a partnership to provide enhanced global bank account verification for UK businesses. The service, launched today, extends Experian's UK coverage to include SEPA markets and key international regions.

The collaboration combines iPiD's global payee verification network with Experian's data and analytics. The goal is to give businesses a more comprehensive approach to verifying account ownership through one platform. This addresses the growing need for fast verification as companies operate more across borders.

Paul Weathersby, Chief Product Officer for Identity and Fraud at Experian UK&I, explained the client need. "Our clients operate across markets with very different verification standards, and that inconsistency creates real friction and risk," he said. "Bringing iPiD's verification capability into our platform means we can offer a single, reliable way to confirm account ownership wherever our clients do business."

Key Benefits for Businesses

Through the partnership, businesses can access several specific benefits.

They can reduce reliance on manual checks. iPiD verifies accounts in 2.3 seconds without requiring extra action from the customer. This is compared to slower methods like Optical Character Recognition of bank statements.

The service aims to deliver better customer experiences. With no extra steps needed from the customer, verification adds minimal friction to payee onboarding. This contrasts with alternative methods that require manual document uploads or redirects.

It is designed to strengthen fraud prevention. iPiD flags perfect, partial, and no matches. This helps organisations understand risk and only add extra verification steps where necessary.

Businesses can verify accounts across domestic and international markets through one solution. Experian clients gain access to iPiD's network, which covers 30 countries at launch. The network is expanding rapidly toward covering 90% of the world's banked population.

The partnership also allows businesses to make more informed payment decisions using enhanced verification and trusted data insights.

Market Context and Vision

Experian states it is the only credit reference agency to offer both UK Confirmation of Payee and Verification of Payee capabilities across SEPA markets. The partnership expands on Experian's existing UK account ownership verification.

iPiD's CEO, Damien Dugauquier, framed the move as part of a larger shift in payments. "Payee verification is becoming the foundation of trust for how money moves globally," he said. Dugauquier noted the shift from manual to AI-driven payment agents. "Knowing you are paying the right party before a payment leaves must happen automatically and instantly." The service is available now to Experian's business clients in the UK.