BankVerify
Celebrate excellence through a seamless, transparent, and automated nomination experience.
About
BankVerify is a native Workday application designed to validate worker bank account details in real time during onboarding, payment elections, and banking updates. It embeds directly within Workday business processes, enabling users to enter and verify bank information seamlessly without leaving the platform.
The solution performs instant validation of bank details such as IBAN, IFSC, routing numbers, and local account formats through secure, compliant APIs. By validating data at the point of entry, BankVerify ensures that only accurate and verified information flows into payroll and downstream financial systems, significantly reducing payment failures, delays, and rework.
BankVerify also strengthens compliance and financial governance by maintaining a complete audit trail of all validation activities. This improves traceability, supports regulatory requirements, and helps mitigate fraud risks. Its secure, API-based architecture ensures that sensitive banking information is handled safely while enabling scalable validation across regions.
Overall, BankVerify enhances payroll accuracy, reduces administrative effort, and builds confidence in financial processes by ensuring reliable, validated bank data within Workday.
Features
Direct Workday Integration: Embedded validation workflow within onboarding, payment elections, and banking update processes.
Real-Time Bank Data Checks: Instantly verifies account details such as IBAN, IFSC, routing numbers, and local formats through secure APIs.
Automated Audit Trails: Maintains a record of every validation, supporting traceability and compliance needs.
Scalable, Secure Architecture: API-based design ensures data security and supports multi-region requirements.
Benefits
Reduced Payment Errors: Minimises costly payment failures and delays by ensuring only validated account details enter payroll.
Operational Efficiency: Decreases manual verification efforts and lowers administrative costs.
Improved Governance: Strengthens compliance and audit readiness with comprehensive validation records.
Fraud Mitigation: Lowers exposure to fraudulent activity through systematic, consistent data checks.
Enhanced Experience: Simplifies onboarding and banking updates, increasing data confidence for employees and administrators