Experian and iPiD Partner to Launch Global Bank Account Verification Across 90% of Banked Population

Experian and iPiD have formed a strategic partnership to scale bank account verification across international borders, integrating global reach with domestic compliance tools. For fintech professionals, this move signals a major shift in cross-border payment security, providing a unified solution to mitigate fraud and misdirected payments while satisfying evolving Verification of Payee (VoP) mandates.

What was announced

The collaboration integrates iPiD’s global verification network with Experian’s existing data analytics and its established UK Confirmation of Payee (CoP) and Verification of Payee (VoP) infrastructure. This technical bridge allows businesses to verify account ownership in real-time across the SEPA zone, the Americas, Africa, Asia, and the Middle East. By combining these assets, Experian becomes the first credit reference agency to offer both UK CoP and international VoP capabilities through a single framework.

The service is designed to replace friction-heavy manual processes, such as the Optical Character Recognition (OCR) of bank statements, which often lead to customer drop-off during onboarding or payment setup. Instead, the verification occurs in seconds without requiring additional input from the end-user. The system is engineered to flag weak or partial matches before a transaction is initiated, targeting the specific risks associated with authorized push payment (APP) fraud and administrative errors in high-volume payment environments. With a reach expanding toward 90% of the world’s banked population, the partnership focuses on providing high-fidelity data to ensure funds reach the intended recipient across diverse regulatory jurisdictions.

"Experian and iPiD are partnering to bring enhanced bank account verification to businesses operating across international markets. The partnership combines iPiD's global verification network with Experian's data, analytics and existing UK Confirmation of Payee and Verification of Payee capabilities."

Official announcement from Experian and iPiD.

The companies involved

Experian is a global information services company and a major credit reference agency, providing data and analytical tools to clients in more than 30 countries. The firm operates as a central pillar in the financial services ecosystem, managing large-scale databases to help businesses manage credit risk, prevent fraud, and automate decision-making. In the UK market, Experian has been a primary provider of the Confirmation of Payee service, a regulatory requirement designed to protect consumers from misdirected payments.

iPiD (International Payment Identity) is a fintech specialist focused on addressing the complexities of global payment identification. Led by Co-founder and CEO Damien Dugauquier and Growth & Brand Director Adriena Lim, the company operates a sprawling verification network that connects financial institutions worldwide. iPiD’s core value proposition lies in its ability to bridge the information gap between disparate banking systems, allowing for the instant validation of payee names and account numbers across different continents and currencies. The company serves as a critical infrastructure layer for banks and payment service providers looking to reduce the operational costs associated with failed or fraudulent international transfers.

What FF News has reported before

FF News has closely followed Experian’s aggressive expansion into digital identity and fraud prevention. We previously covered how Experian UK&I Strengthens Its Leading Digital Verification Capabilities With the Addition of Konfir, marking a significant step in their verification strategy. The urgency of these tools was underscored in our report on how the Experian Report Highlights AI Trust Gap as Fraud Losses Surge to $15.9 Billion. Additionally, the firm recently introduced new tools to simplify the user experience, as seen when Experian Launches Identity Connect to Streamline UK Digital Verification and Fraud Prevention.

What this means

This partnership places significant pressure on traditional correspondent banking networks that have historically struggled with the "black box" nature of cross-border transfers. By providing instant verification across 90% of the banked population, Experian and iPiD are effectively commoditizing what was once a complex, high-friction compliance hurdle. The move is a direct response to the global regulatory trend toward mandatory Verification of Payee, particularly within the EU’s SEPA region. For the wider industry, the benchmark for "acceptable" payment failure rates is likely to drop, forcing smaller payment providers to either adopt similar high-coverage verification tools or risk becoming outliers in a market where real-time validation is becoming the standard.