What is bank account verification?
Achilles has partnered with DIRO’s bank account verification technology to help businesses fight back against push payment fraud.
Achilles + DIRO verifies Supplier bank accounts in real time, capturing data directly from online banking portals. The platform confirms authenticity to Buyers in your network, detects tampered documents, and delivers results in a secure, machine-readable format.
This ensures future payments go to the right account while reducing manual effort and minimising fraud risk.
How to verify your company’s bank details in MyAchilles
Selecting to verify one or more bank accounts is a fully secure process. The process is quick and easy to complete and requires access to your organisation’s online banking portal for the account that you wish to verify. Please note that no bank details are downloaded to your device and Achilles will not gain access to sensitive information or sign in details.
To begin the process, from your Profile page, select the Bank Details verification risk gauge. Once selected a button will appear to verify your company’s bank account.
Only user administrators will be able to select this button initially – but a user administrator can assign other users the ability to access this link via ‘Manage Users’.
Once the button has been selected, a new tab will populate and you will be guided through the process. In summary:
- Please select your bank provider from the extensive global list
- Log in to your organisations online banking portal within the tab
- Navigate and download a bank statement for the account you wish to verify
- The process will then complete, and you can close the tab
Within 24 hours, your verified bank details will be visible on your Supplier Profile, accessible via the risk gauge.
Note that Achilles will not use this information for invoice purposes – the information will only be shared with buyers to help reduce invoice fraud and ensure you are paid promptly.
Which users will be able to view my organisations bank details?
Within your own organisation, all users will be able to view a masked version of the bank account details. In the masked version, only select digits will be visible. User administrators and users with the access granted via ‘Manage Users’ will be able to view full details and download an authentication certificate generated by DIRO.
Outside of your organisation, Buyer users in your network will be able to view masked account details if they enable the service. Buyers with a defined Buyer-Supplier relationship with your organisation will also be able to designate users in their organisation with permission to view the full details and download the authentication certificate.
Can I add bank details for more than one account?
Yes, multiple accounts can be verified for your organisation. The verified accounts will appear as separate rows in your bank details table.
Can I delete bank account details for my organisation?
Yes, user administrators, or users with permission designated in ‘Manage Users’ can delete verified bank account details at any time.
To do this, navigate to the bank details page, accessible via the Supplier Profile risk gauge. Then, select the ‘Show Details’ button, which will then enable a delete icon for each account.
Can I verify bank account details outside of the process described above?
No, the solution provided by DIRO requires the user to log in to their online banking portal in real time, to ensure that the resulting statement is acquired directly from a trusted source and has not been tampered with.
Achilles cannot accept bank statements outside of this process. Moreover, the DIRO process ensures that the sensitive information is not stored anywhere on your device or mailbox and is subsequently more secure than any manual process.