Verify bank confirmation letters and account holders with AI for fast, accurate document validation
The South African Bank Confirmation Letter Verification solution uses AI to authenticate bank confirmation letters by verifying the document’s contents. It reduces manual effort, ensures accuracy, and minimizes fraud risk. In a future update, it will integrate third-party verification to confirm the account holder’s identity, offering an additional layer of trust for businesses and financial institutions.
Automatically verifies the contents of bank confirmation letters, reducing manual checks and improving accuracy.
Identifies inconsistencies or tampering in documents to prevent fraudulent submissions.
Upcoming feature will confirm the bank account holder via trusted third-party services, ensuring end-to-end trust.
This solution is ideal for businesses and financial institutions looking to automate the verification of bank confirmation letters, ensuring accuracy, reducing fraud risks, and enhancing compliance while improving operational efficiency.
Use Case: KYC (Know Your Customer) Compliance
Industry: Banking & Financial Services
Description: Automating the verification of bank confirmation letters during customer onboarding to confirm the validity of banking details and ensure compliance with regulatory standards.
Benefit: Reduces manual document checks, prevents fraudulent submissions, and ensures faster and more accurate KYC compliance, enhancing the onboarding experience.
Use Case: Vendor Payment Verification
Industry: Procurement & Finance Teams
Description: Verifying bank confirmation letters provided by vendors to ensure the accuracy of payment details before processing supplier payments.
Benefit: Minimizes payment errors, prevents fraud by ensuring the legitimacy of vendor bank accounts, and improves payment cycle efficiency.
Use Case: Loan Application Validation
Industry: Financial Services & Lending Institutions
Description: Verifying bank confirmation letters submitted during loan applications to validate banking details and ensure account ownership. In future updates, this will include cross-referencing with third-party verification services for added trust.
Benefit: Reduces the risk of fraudulent applications, accelerates loan processing times, and ensures reliable validation of applicants’ financial information.
Absolutely. The solution provides API access for seamless integration with your current tools or workflows.
Currently, it verifies standard South African bank confirmation letters in PDF formats.
The AI achieves high accuracy levels by leveraging leading document validation models and optical character recognition (OCR) solutions.
It will cross-check bank account details and ownership with trusted third-party verification services to confirm the account holder’s identity.
The AI solution is designed with your data security and privacy in mind. We ensure that all documents processed through our system adhere to the highest standards of data protection, maintaining compliance with regulations like GDPR and POPIA.
Here’s how we safeguard your information:
We prioritize the confidentiality and security of your business data, ensuring that our verification processes not only improve efficiency but also strengthen trust in how your information is managed.
Our AI solution follows Highwind’s standard Service Level Agreement (SLA), ensuring clear support and service quality expectations.
Please download the full SLA document for a comprehensive outline of support levels, response times, and resolution standards.
Starting at
$50.00
per month
Up to 1000 units, then $0.00 per unit.
Starting at
$300.00
per month
Up to 10000 units, then $0.00 per unit.
Starting at
$500.00
per month
Up to 20000 units, then $0.00 per unit.