Bank verification
Pay the right supplier. Every time.
RapidP2P checks supplier bank details at every point they can be changed, copied or faked, from onboarding to invoice to approval. A fraudulent account never makes it into your payment run.
✓ Built into your AP workflow, not bolted on
✓ Matched against your ERP supplier master
✓ Connects to the verification network you choose
Invoice #4821
Northside Electrical Pty Ltd
On hold
Total
$48,920.00
BANK DETAILS MISMATCH
On invoice
062-000 ···· 4471
Supplier master (ERP)
033-000 ···· 9035
✓ Invoice received · 9:12 AM
✓ Bank details extracted · 9:12 AM
! Matched to supplier master · Mismatch
→ Routed to AP Manager for review · 9:13 AM
Review bank details
Illustrative screen
Why bank verification matters
If a fraudster changes your supplier's bank details, who pays?
Often, you do. Payment redirection, frequently delivered through business email compromise (BEC), is one of the most costly frauds finance teams face, wherever they operate. In Australia alone, $166.8 million was reported lost to it in 2025, the second most costly scam type (National Anti-Scam Centre). And when your team pays the wrong account, the courts may say you still owe the supplier.
What Australian courts have said
NSW District Court · 2026
$467,378
Pandora still owed the supplier, plus interest and costs.
A compromised supplier email sent new bank details at 2.16am, with a fake bank letter attached. Pandora paid.
MJ Concepts Kotara v Pandora Jewellery (No 2) [2026] NSWDC 262
WA District Court · 2024
$191,859.16
Inoteq was ordered to pay Mobius, plus interest.
Inoteq phoned to check, but the line was poor. It then confirmed by email, through the account the fraudster controlled.
Mobius Group v Inoteq [2024] WADC 114
In both cases the payer was innocent, yet the court left the loss with them, because they were best placed to check. Wherever you operate, ask the same question: if our process fails, who pays?
A phone call is a habit. A control is a step you can't skip.
A callback rule relies on one person, on one day, following it all the way through. Under payment-run pressure, habits slip. Controls don't.
Five ways bad bank details get in
The AP inbox
An email to the shared inbox, often with a letter on the supplier's letterhead.
The forwarded request
A site, store or project manager passes on a "new bank details" email.
The phone call
Someone in finance takes a call and updates the details.
The direct edit
Vendor master data is changed in the ERP with no second set of eyes.
The invoice
A new invoice simply shows different bank details.
If any of these can change where your money goes without a separate check and approval, that's your gap. RapidP2P puts a rule in front of every one of them.
How it works
A rule at every door, not a judgement call.
RapidP2P checks bank details at the three moments they can go wrong: when a supplier is set up, when their details change, and when an invoice arrives. Your ERP stays the system of record. RapidP2P's controls sit in front of it.
RapidP2P controls
STEP 1
Onboarding
- Business register lookup
- External bank check
- Duplicate account check
- Employee account match
STEP 2
Detail change
- Supplier self-service update
- Segregation of duties approval
- External bank check
- Full audit trail
STEP 3
Invoice capture
- Bank details extracted
- Matched to supplier master
- Mismatch: invoice held
- Clean: flows straight through
THEN
Your ERP
Stays the system of record. Posts and pays from approved supplier details.
Each checkpoint closes a different way bad bank details get in, before they reach the ERP vendor master or the payment run.
Layered protection
Four layers. One workflow. No gaps.
Each layer catches a different kind of attack. Together, they make sure bank details are right when a supplier is set up, stay right when they change, and match when you pay.
Layer 01
Invoice-to-master-data match
Every invoice RapidP2P captures has its bank details extracted and compared with the supplier's master record in your ERP. If they don't match, the invoice is held and routed to the right person with the difference highlighted. A mismatched account is never paid by default.
Stops: doctored invoices and lookalike supplier emails.
Layer 02
Controlled bank detail changes
A bank detail change is treated as a controlled event, not an email to action. Suppliers maintain their own details through supplier self-service, so there's one way in, not five. Each change is validated and approved before it reaches your ERP vendor master. Segregation of duties means the person who receives a change can't also approve it or release the payment. Every step is logged: who requested it, who approved it and what was checked.
Stops: "we've changed banks" scams and unauthorised internal edits.
Layer 03
Duplicate and employee account detection
RapidP2P flags a bank account that appears on more than one supplier, or one that matches an employee's account. These are the classic signs of ghost vendors and insider fraud.
Stops: fictitious suppliers and payments diverted to staff accounts.
Layer 04
Independent external verification
RapidP2P checks supplier identity and bank ownership against independent sources outside your organisation, such as verification networks, payee confirmation services and business registers. You choose the providers.
Stops: accounts that look valid internally but don't belong to the supplier.
Open by design
Your verification network. Your choice.
RapidP2P doesn't lock you into a single data provider. The controls live in RapidP2P; the independent checks come from the partners that suit your region, your bank and your risk appetite. As new payee verification services arrive, you plug them in, not rebuild.
Eftsure
What it checks
Supplier bank details against an independently verified network
Real-time vendor verification, trusted by finance teams across Australia and New Zealand. Integrated with RapidP2P's AP and vendor onboarding workflows.
Confirmation of Payee services
What it checks
That the account name matches the supplier you intend to pay
Banks and payment schemes around the world are launching name-and-account matching. RapidP2P is built to connect to these services as your bank or provider makes them available.
Business register lookups
What it checks
That the supplier is a real, active, registered business
Validate supplier identity against official business registers before the first payment, starting with ABN in Australia and NZBN in New Zealand.
Already use a verification provider? Talk to us about connecting it.
Why RapidP2P
Enterprise-grade payment control, without an enterprise-sized project.
Large procure-to-pay suites and capture platforms can verify bank details too, often through a separate module, a supplier portal your vendors must adopt, or a custom build on top of document capture. RapidP2P makes bank verification part of the invoice and vendor workflows you already run, on the ERP you already have.
Built in, not bolted on
Checks run inside AP and vendor onboarding workflows. No extra system to reconcile.
Works with your ERP
Your ERP stays the system of record for posting and payment. RapidP2P's controls sit in front of it. No rip-and-replace.
Provider-agnostic
Use Eftsure, payee confirmation services, business registers, or a mix. Change as the market changes.
Exceptions only
Clean invoices flow straight through. Your team only sees the ones that need a decision.
Audit-ready by default
Every check, result, override and approval is logged and reportable.
What your organisation gains
Less fraud risk. Less manual checking. More confidence in every payment run.
The right supplier, paid every time
Bank details are verified before money moves, not after.
Fraud stopped upstream
Suspicious details are caught at invoice capture and change request.
Fewer call-backs and spreadsheets
Automated matching replaces manual cross-checking.
One control, every entity
The same verification rules across all business units and regions.
Clean master data that stays clean
Every bank detail change is approved, logged and verified.
Evidence for auditors
A complete trail of every check and decision, ready when they ask.
The result?
Your organisation reduces payment fraud risk, strengthens governance and gives the board confidence that every dollar reaches the supplier it was meant for.
Customer story
Stronger controls. Better insurance terms.
An Australian company processes up to 3,000 invoices a month with minimal manual input, using RapidP2P together with Eftsure. With those controls in place, its insurer rated the control environment low risk.
Supplier controls become evidence you can put in front of your insurer and your board, not just an AP cost.
$250,000
Social engineering fraud cover, at no additional premium
Low risk
Insurer's rating of the customer's control environment
~$200,000 a year
ATO repayments avoided on GST incorrectly claimed from non-registered vendors
Before you take the next step
Questions finance teams ask.
Do I need Eftsure to use bank verification in RapidP2P?
No. Invoice-to-master-data matching, controlled bank detail changes and duplicate account detection are part of RapidP2P. Eftsure and other providers add an independent external check on top.
What happens when bank details don't match?
The invoice is held, the difference is highlighted and it's routed to the right approver. Nothing is paid to a mismatched account unless someone with authority reviews it, and that decision is logged.
Does this work outside Australia and New Zealand?
Yes. RapidP2P verifies bank details in the formats your suppliers use, and connects to payee confirmation and registry services in the regions where they're available.
Will this slow down our AP team?
No. Matching runs automatically at capture. Clean invoices keep flowing; only exceptions need a person.
Can we keep our current ERP?
Yes. RapidP2P reads supplier master data from your existing ERP. There's nothing to replace.
We already use a verification provider. Can we connect it?
Talk to us. RapidP2P is designed to work with the verification partners that suit your organisation.
We already have a callback policy. Isn't that enough?
A callback is a useful check, but on its own it's a habit, and habits slip under pressure. RapidP2P makes verification a step the process won't let you skip, whoever is at the desk.
Four questions to ask your team this week
- How many ways can a supplier's bank details be changed in our business today?
- Can the person who requests a bank detail change also approve it, or release the payment?
- How do we confirm a change, and is it ever through the same channel the request came from?
- If we paid the wrong account tomorrow, could we show our insurer exactly what was checked?
Make every payment a verified payment.
See how RapidP2P stops payment redirection fraud before it reaches your payment run, using the ERP and verification partners you already trust.
Not confident of the answers? In 30 minutes we'll map where bank detail changes can enter your process, and where a rule can replace a judgement call.