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iPiD and TransFi Partners to Enhance Security and Compliance Measures in Financial Transactions

[Singapore - May 14, 2024] - iPiD, a leading provider of global bank account verification solutions, and TransFi, a pioneering financial services platform, are delighted to announce their partnership. This strategic alliance aims to fortify security and compliance measures within financial transactions, safeguarding customers against fraud and scams.

In an era marked by increasingly sophisticated digital threats, the verification of customers' registered bank account details against their names is paramount for regulatory compliance and risk mitigation. Recognising this imperative, TransFi has sought a robust solution to authenticate the ownership of bank accounts used in transactions.

"The collaboration between iPiD and TransFi represents a significant milestone in our shared commitment to ensuring the integrity and security of financial transactions," remarked Alain Raes, CCO of iPiD. "By leveraging iPiD's verification technology, TransFi will enhance its capabilities to verify customers' bank account details and ownership, thereby mitigating the risks associated with unauthorized transactions."

Without adequate verification mechanisms, there is a heightened risk of individuals using third-party accounts for personal trading activities, exposing both the platform and its users to potential vulnerabilities. This is a shared challenge among many financial service platforms such as Transfi.

We are thrilled to enhance our partnership with iPiD, as it directly aligns with our mission to deliver secure and seamless financial transactions globally. This collaboration will not only strengthen our capabilities in fraud prevention but also ensure that our customers can conduct their financial activities with utmost confidence. Looking ahead, we are committed to continuously advancing our technology to meet the dynamic needs of the digital economy and maintain the trust our users place in us." - Raj Kamal, CEO TransFi

The integration of iPiD's verification technology will enable seamless authentication of TransFi’s customers' bank account details, thereby reducing the risk of unauthorized transactions and enhancing overall compliance with regulatory standards.

For more information or interview opportunities please contact:

iPiD Media

[email protected]



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About iPiD

Founded in 2021, iPiD is a fast-growing, venture-backed fintech startup with a diverse international team boasting extensive experience from leading payment and technology companies such as SWIFT and Thomson Reuters. Based in Singapore, iPiD has a solid presence in countries including India, Belgium, Malaysia, the Americas, Netherlands, Dubai, Spain, and Vietnam.

iPiD's flagship offering, Validate, tackles the escalating issue of fraud and failed payments within the payment industry by confirming payee names and bank account details. This solution is especially effective in enhancing customer experience and combating authorised push payment (APP) fraud.

iPiD is transforming the fintech arena and fostering trust and confidence within the global financial ecosystem by providing a reliable and effective solution for fraud prevention and payment validation. The company's validation coverage now spans across India, Indonesia, Vietnam, the United States, Nepal, Nigeria, Pakistan and more, with over 2.8 billion accounts, further solidifying iPiD's commitment to enhancing payment security and delivering exceptional customer experiences. For more information, visit:


About TransFi

TransFi’s purpose is to power the world’s payments, helping businesses and individuals access better ways to move money. Combining industry-leading coverage of currencies and payment methods, we deliver compliant payouts, collections, and treasury services across Asia, Europe, LatAm, Africa, and North America. In our pursuit to advance economic prosperity through borderless finance,  

Cross-border payments are found to be expensive, time consuming, unpredictable and a poor user experience. For small and medium-sized businesses, especially in the technology and services sectors, or those dealing with counterparties in Asia, Europe and Africa, the experience is even more difficult.

TransFi’s enterprise-grade, developer-friendly platform is quietly transforming this problem —making cross-border payments faster, less expensive, and more reliable than ever. With a single integration, our client’s get access to 100+ countries in 30+ currencies for real time payments into and out of their bank accounts.

Our mission is to advance economic prosperity through borderless finance. Join the movement today for a better experience with TransFi, visit