Eftsure Extends Payment Verification to Individuals
Eftsure has launched a new capability designed to verify that a person’s identity matches their bank account before an organisation sends money.
The Eftsure individual verification capability extends the company’s payment assurance platform beyond business-to-business payments. It targets payments to employees, claimants, customers and beneficiaries.
For finance teams, the change addresses a common control gap. Organisations often collect bank details for employees, insurance claimants or customer refunds through forms, email or phone calls. Staff then enter those details into payment systems.
However, organisations have had limited ways to independently confirm that the account belongs to the intended recipient before releasing the money.
The risk goes beyond incorrect account details. Australians reported A$166.8 million in losses to payment redirection scams in 2025, according to the National Anti-Scam Centre. That figure increased 9.3 per cent from 2024.
Identity fraud also remained the most reported type of cybercrime in Australia during the 2024-25 financial year.
Eftsure individual verification checks the person behind the account
Eftsure designed its individual verification capability to work within existing payment processes.
When someone enters or changes an individual’s payment details, Eftsure checks the information against connected banking and identity reference sources. According to the company, this process confirms the link between the intended recipient and the account they supplied.
The organisation then receives a verification result before releasing the payment.
This check differs from simply comparing an account name with bank account details. Those details can indicate whether the information is consistent. Individual verification instead aims to determine whether the account belongs to the specific person the organisation intends to pay.
Eftsure also retains verification evidence to support audit and control requirements. The company says this can reduce the need for teams to assemble records across payroll, HR and finance systems.
“Finance teams have been able to verify the businesses they pay for years, but they’ve had almost nothing equivalent for the people they pay,” said Andy Thiss, Vice President and General Manager, APAC at Eftsure. “We’re closing that gap inside the payment flow, where the risk actually sits. Whether it’s an employee, claimant or customer, organisations should be able to confirm they’re paying the intended person before the money leaves.”
Payroll and claims among initial payment use cases
Eftsure is initially targeting payroll and employee payments. These include salaries, bonuses, expenses, commissions and termination payments.
The capability will also support individual disbursements across insurance, lending, automotive, property, community services and gaming.
“Verifying an individual isn’t just about checking whether a name and account number appear to match. It’s about giving organisations stronger evidence that the account belongs to the person they actually intend to pay,” said Ramesh Menon, Chief Product Officer at Eftsure.
“We’ve designed individual verification to fit into the systems and processes organisations already use, so teams can add that check without creating another manual step every time someone needs to be paid.”
About Eftsure
Eftsure describes itself as the payment assurance layer for enterprise finance. Its payment infrastructure continuously verifies payments before money moves, checking the payee, amount, and timing across payment processes.
The company says it safeguards hundreds of billions of dollars in B2B payments each year across more than 40 jurisdictions.
Through its global expansion and acquisition of US-based Relish and French Sis ID, Eftsure now supports businesses across North America, Europe and Asia-Pacific.
Learn more at eftsure.com.
*The Eftsure Guarantee does not apply to individual verifications.