methods to restrict the danger of fraud and anticipate non-payment?

Everyday scams and rates of return are major problems for e-commerce. The latter must control these known rates to limit losses on their traffic. However, with numerous existing fraud techniques and an increasing number of outstanding payments (especially due to the health situation that has affected many organizations whose solvency has failed), it is not necessarily easy to fight these two plagues.

This is a problem that application programming interfaces (APIs) can help solve. They enable the detection of false information upon entry (in real time), verification of the identity of his contacts and their IBAN. These are all factors that work to limit and control these financial risks.

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Discover misinformation as soon as it is collected

To avoid any risk of fraud or non-payment, it is advisable to have a reliable and verified database. Therefore, the data entered must be verified as soon as it is entered in order to prevent the risk of false information. To achieve this, the IDAIA Group has set up an API Data Store. This API catalog makes available the company’s support services, its expertise in verifying international data, as well as its data capital, rich in the comprehensiveness of companies in France and 47 million individuals.

On the platform, the group offers a company API, which controls the existence of companies in France. In the case of a registration form, the API fills in all the fields with verified information, which come from the IDAIA Group’s capital. The customer only needs to fill in two input fields, company name and zip code.

In that sense, the company avoids false information or typos. This allows you to get a reliable database, which is assisted by a phone number, e-mail or API for verification of IBAN, useful in both B2B and B2C. They are great allies in removing false information and thus reducing financial risks.

Verify the identity of your contacts

Online, one of the main topics in recent years is the fight against fraud. To deal with this, you need to control the identity of your customers and potential customers from their first contact with your company. This not only helps to establish peaceful commercial relations, but also makes your database more reliable.

However, checking any information can take a long time. For this reason, it is wise to automate these checks, especially thanks to the individual verification API, in order to block fake identities and reduce the costs of litigation for your company.

Avoid any financial risk

During this period of economic and health crisis, several companies were weakened. Some of them have to deal with declining turnover or accumulating financial debts. The Data Store Alert API is an essential tool that allows you to be informed in near real time about key developments that have happened to your customers, prospects and partners. In this way, the risks of delays and non-payment can be prevented.

However, it is advisable to find out about the financial condition of your potential clients before concluding a contract, which is made possible by the Financial Data API. The company can also download its key performance indicators (KPIs) from the IDAIA Group’s data capital in real time from its own information systems. In particular, the main financial indicators are available, such as turnover, operating income, financial debts, outstanding customers, but also financial results, results of outstanding liabilities and turnover. This offers a comprehensive overview of the health of the potential BtoB potential client before entering into a contractual relationship with him.

Fight fraud through online bank transfers and direct debit

According to a 2020 study conducted by PWC, a financial audit expert, one in two French companies has been the victim of a transfer fraud in the last twenty-four months. Growing statistics encourage e-commerce companies to automate IBAN control at the time of collection to better control the risk of fraud, especially thanks to the SEPAmail API of the Data Store API. This API is based on the SEPAmail Diamond Payment Security Service, an interbank network created in 2008 to combat transfer fraud.

This solution alerts the company in case of observed entry errors on the IBAN, such as, for example, inconsistencies in its structure, and in the event that a bank account does not exist. That is, the bank details do not correspond to the declared account holder. This allows you to instantly block transfers, control losses and save time in litigation and administrative proceedings.

Finally, in a few clicks, it is possible to access all APIs and services offered by the API Data Store. To make them easier to use, developers can test them from a free sandbox. They will be in complete autonomy thanks to swagger documentation, which will guide them through the whole process. To discover all the benefits offered by APIs, do not hesitate to browse the API Data Store.

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