Invoice fraud detection system (beta).

  • This is an enterprise-only product that is currently in beta testing

  • It is Blockchain based and therefore trustless

  • In a nutshell it is an alert engine that triggers actions when bank details of approved vendors are suddenly changed, even if due to own database insertions.

  • Vendor/supplier onboarding system to approve bank account changes

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What is invoice fraud?

  • Invoice fraud is a growing problem that costs businesses hundreds of millions per year.  Read more here

Extra security features

Our solution is trustless because it is Blockchain based.

  • Even if our own database is compromised and populated with fraudster’s bank details the system will still not approve the invoice because each such action requires a comparison of ‘fingerprints’ of bank details with a public ledger – Ethereum in our case.

  • Fingerprints are meaningless on their own, therefore can be stored in a public ledger.

Extra security features
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Approve legitimate changes to data with vendor / supplier digital on-boarding.

  • Design and deploy end-to-end onboarding workflows for a fully automated vendor on-boarding experience.

  • Automate approval of changed vendor details, especially bank account details.

Invoice fraud detection, empowered by blockchain.