Confirm by Liink

Validate account information prior to payment initiation easily, quickly and securely

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Video transcript

[MUSIC]

The world generates over 300 million terabytes of data every day, making it critical for financial institutions to reimagine how new data sources can inform better decisions, lead to new client offerings, and drive novel revenue streams. With Liink by J.P. Morgan, we've architected a way for you to leverage collective intelligence across institutions, enabling you to securely access and share data beyond your walls, allowing you to generate new insights and power better decisions together.

Imagine tapping into this robust ecosystem and immersing your business into a vetted network of participants. That's Liink, a secure, private, permissioned, blockchain-based network. Pioneering financial institutions are already harnessing Liink and its applications, collaborating with trusted payment technology networks to revolutionize their businesses.

Confirm by Liink, our global account validation service verifies billions of bank accounts from thousands of institutions around the world, helping your clients reduce the risk of payment failure, mitigate fraud, improve straight-through processing, and automate manual processes. Because when it comes to your clients, every payment matters.

Whether it's to a new supplier during onboarding, a first-time beneficiary, a cross-border payment, or even a large one-time payment, you can offer your clients a new global account validation API or an embedded service within your digital payment channels using Confirm, providing them with the tools they need to extend into new markets without connecting into multiple services. Let's unlock new opportunities for your business with collective intelligence powered by Liink.

Institutions across the globe experience a high number of payment returns and fraud due to the inability to verify account information prior to payment processing, resulting in additional fees, payment delays, and an overall poor customer experience. Based on J.P. Morgan’s evaluation of high value payment returns in 2020, there is an opportunity to save millions of dollars on high value payments and 3-4 days of payment related delays¹.

Embed account validation within your payment operations and unlock new data driven revenue streams with Confirm.

If your institution needs to verify account information to streamline and protect its payments or has data to facilitate this verification – or both – you can potentially benefit from using Confirm.

Unlock Business Opportunities

The new connections made through Confirm may open additional business opportunities in different regions and allow your bank to enter new areas.

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Improve payment efficiency

Reduce the occurrence of payment returns due to incorrect payment information by validating account information in advance. Decrease operating costs and improve straight-through processing rates with confidence that the payment will reach the intended end client.

Prevent Fraud attempts

Mitigate fraudulent activity by pre-validating account information so participants know beforehand if the instructed beneficiary matches the owner of the account they are paying.

Monetize your data

Securely monetize data assets by responding to information requests from institutions.

API integration with Confirm can be used to automate the process of pre-validating account information prior to funds transfer, which may reduce the risk of return, delays, unnecessary fees, and fraud – all on a secure peer-to-peer network, with benefits across your organization:

For Business/Innovation Leaders

May improve overall client experience and open new revenue streams for responding institutions.

For Technical Leaders

Leverage cutting-edge blockchain technology and APIs for simple integration on to a secure platform.

For Finance Leaders

Increased straight-through processing rates resulting in cost-savings, and reduced operational risk.

[1] Projected. Based on 2020 review of JPMorgan returns on high-value payments made to accounts not seen in the previous 1Q. Results not guaranteed. Projected. Gross cost savings; large banks defined as global financial institutions similar in scale to JPMorgan. Results not guaranteed.