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How It Works

Creating a Secure Community

No Fraud. No loss exposure. A service to your customers and partners. A relief to your staff.

An expert workflow integrated with best of class Identity and Financial Account validation technologies, WireSecure assures that all business and individual members of a community are trusted and their account information verified.

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An Invite-only Secure Community

It all starts with an invitation, sent via email or text message. Invitees then answer clear and simple questions, all of which take no longer than a minute to complete.

In the meantime, WireSecure provides helpful resources that promote the need to protect customers, investors, partners and other providers in exchanges of funds or sensitive information.

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Identity Verification for Individuals and Businesses

Integrated with trusted data sources behind the scenes, WireSecure verifies the identity of individuals or business recipients. While most identities are validated in seconds, suspicious answers are flagged by WireSecure’s proprietary rules engine and can require additional levels of security including facial recognition and alerts to administrative staff with reasons for concern.

WireSecure runs a user’s information through over 50 public and private data sources to ensure that they are a real and unsuspicious person.

All associated phone numbers and email addresses are checked against blacklists and lists of compromised accounts/SIM cards.

The device used to access WireSecure is fingerprinted and checked against blacklists and validated as legitimate.

Geolocation is logged to use as a reference in future requests.

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Financial Verification

If a transaction involves an exchange of funds, verified counterparties are asked to provide their relevant account information. WireSecure’s integration with financial providers adds an additional level of security by verifying that the account information is, in fact, consistent with the verified identity.

All financial information is maintained as a token and never stored, eliminating the possibility of compromise.

04

Transaction Management

With WireSecure, soliciting, validating, and transcribing financial account information is no longer a manual process. By simply inviting participants to create secure communities, individuals and businesses self-validate and their financial information is made available when payments are required. Until then, all information is safely maintained as a token by WireSecure.

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Wire Instruction Generation

By virtue of its invite and validation automation, WireSecure has all the information needed to create ACH, Fedwire, SWIFT or Check formatted instructions. Actual amounts are provided via imports from core systems or Excel which are then associated with the validated individual or business as well as the trusted account.

The token is converted to routing and account numbers and individual payment instructions are exported individually or as a file to your bank or internal systems without any manual data entry.

See the Full Transaction Flow

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Compliance Reporting

WireSecure provides users the ability to track, log, and report on secure communications that have taken place within a community, making it easy to maintain compliance reporting.

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