As businesses search for a suitable payout solution provider to lower risks, errors, and costs, one company stands out in the crowd—Verituity.
Verituity transforms payouts beyond transactions into new sources of value by delivering faster, safer, verified payments and pay-by-anything experiences, all while reducing complexity, risks, and costs and maintaining compliance. To provide banks, payers, and payees with a seamless and automated experience, Verituity connects them through its digital, intelligent platform that has holistic verification and an adaptive policy engine at the core.
“With holistic verification and intelligence at its heart, our platform ensures that every action along the payout process is verified and validated, and every payee receives their payment first-time, on-time,” says Ben Turner, CEO of Verituity. Be it payouts by banks, insurers, consumer goods providers, entertainment companies, or other payout-dependent businesses, Verituity ensures that the payment is completed successfully in the first attempt.
Following a low code/no-code approach, Verituity helps payers seamlessly modernize their legacy infrastructures and streamline payouts while reducing risks and costs. The platform’s adaptive policy engine plays a key role in enabling payers to ensure contextual verification in all aspects of every transaction.
Verituity’s platform can be custom configured for each payer’s unique business rules, orchestrating the verification of every transaction specific to the payer and payee’s identity, modality, and preferred payment method. By building intelligence into the orchestration layer, the company reduces the risks and completes payouts with higher success rates, driving customer satisfaction.
For banks, Verituity helps extend the value of their payment rails and increase revenue while providing end-to-end visibility for reconciliation of settled payouts, enabling them to effectively compete with fintech companies.
In one instance, Verituity was approached by a bank whose corporate customers were facing high failure rates with their payout method, resulting in high costs and risks that affected the client and customers alike. Verituity offered the perfect solution to the problem and assisted the client in significantly reducing their failure rates by 60 to 90 percent.
With holistic verification and intelligence at its heart, our platform ensures that every action along the payout process is verified and validated, and every payee receives their payment first-time, on-time
Offering a comprehensive payout solution, Verituity orchestrates the entire payout process and handles various functions, such as standard conversions and data collection. The company also has cryptocurrency payment features in the pipeline to offer more variety to its customers. Backed by decades of experience in payouts, banking, tech, and security spaces, Verituity’s team continues to focus on transforming payouts into a better experience for banks, payers, and payees.