According to Odaily, anti-fraud platform Trustpair has announced the integration of JPMorgan's blockchain-based solution, Confirm, to verify bank account information. Confirm is a closed global account verification information network built on Liink, a permissioned and private blockchain developed by JPMorgan's Onyx division. Gloria Wan, Executive Director at JPMorgan Onyx, stated that Confirm was created to provide collective intelligence to improve company decision-making. She added, 'Companies operate in a data-driven world, but many still rely on inaccurate vendor and payment data for high-value transactions, significantly increasing the risk of fraud, payment errors, and delays.'
With this integration, Trustpair's more than 200 clients—including companies like Société Générale, Decathlon, and Danone—can now verify vendor bank accounts in 15 global markets, thereby reducing the risks of payment fraud and delays.