BELLIN Pursues “Security-in-Numbers” Approach to Payment Fraud

20 March 2018
GTB Hub Update

New BELLIN GTB Hub App Feature

Ettenheim, March 20 2018

BELLIN, a global leader in technology for corporate banking and treasury has announced the introduction of a new feature for its BELLIN GTB Hub global transaction banking app that was first launched in November 2017.

The Verify-Your-Supplier feature represents a targeted approach to payment fraud, including Payment Diversion schemes, by providing companies and suppliers with an independent verification tool that enables them to store, maintain and verify account master data. This represents a “security-in-numbers” approach to curtailing fraud with the aim of engaging as many suppliers as possible and offering users a complete database that helps them cover all bases.

“Payment fraud is an issue that concerns all companies worldwide. And with everyone exposed, it seems only logical that we join forces in tackling it,” explains Miroslav Sokolovic, Senior Manager GTB Services at BELLIN. “The more comprehensive the accurate data directory, the easier it gets to weed out the fraudsters.” The Verify-Your-Supplier feature complements BELLIN’s GTB Hub Global Transaction Banking app that also features a comprehensive Find-Your-Bank search function, a Rate-Your-Bank peer review feature and a Follow-Your-Bank change notification feature, with a groundbreaking Track-Your-Payment function to be added soon. GTB Hub is available for both iOS and Android and can be downloaded in the App Store and Play Store.

 

About GTB Hub

GTB Hub is a cutting-edge Global Transaction Banking app that forms part of BELLIN’s new GTB Services portfolio. It gives users access to all the information they need for their global transaction banking needs in one place. This includes access to a comprehensive, worldwide directory of banks with both basic branch information and BICs, national IDs and standard settlement instructions (SSIs), powered by SWIFTRef Data. In addition, users have the option of rating their banking partners or consulting their peers’ reviews. They can also follow specific banks to be notified of any changes including contact details, as well as new products or bank master data. With the latest feature, Verify-Your-Supplier, GTB Hub also steps up the game on fraud prevention by providing an independent verification tool for bank master data.

 

About BELLIN

BELLIN is the global leader in technology for corporate banking and treasury. We provide solutions for the financial sector, catering to a range of clients from large multinationals to SMEs and banks. Founded by a treasurer, BELLIN has been championing innovation and out-of-the-box thinking since 1998. With the treasury software tm5 as the centerpiece, BELLIN makes a fundamental difference by offering solutions that zero in on the relationship between corporates and banks and cover everything from payments to FX, cash and risk management. BELLIN is an international company with offices on four continents, powered by a trailblazing fintech spirit and yet firmly rooted in the heritage of German craftsmanship and engineering. BELLIN delights nearly 500 clients and over 50,000 users around the globe.

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