Financial Verification

Gratify KYB API offers financial verification tools to support secure and reliable validation of financial information, ensuring your business remains protected against fraudulent financial activities. Below is an overview of each financial verification component:

Payment Instruments Verification

Ensure the validity of payment information that facilitate transactions or settlements:

• Credit Card Validation: Confirm the authenticity of credit card numbers, ensuring they adhere to industry standards and are correctly formatted to prevent fraudulent transactions.
• BIN (Bank Identification Number) Details: Analyze the first six digits of a credit card number (the BIN) to retrieve essential information about the issuing bank and card type.
• Bank Account Validation: Validate bank account details to confirm their legitimacy. In addition to confirming validity, the system retrieves bank and branch information, such as the bank’s name and branch location.
• Transaction Test: Conduct a small penny transaction to the bank account and request confirmation of the deposited amount by the user. This approach ensures that the account is active and legitimately owned by the intended user, providing a proven method of validation.

Credit Score Verification

Confirm that credit scores exist with reputable credit bureaus and meet required thresholds. This includes reviewing associated details such as address history, employment history, and other credit-related notices, which provide a comprehensive understanding of a user's creditworthiness.