BeneficiaryMatch: Pre-wire verification service for corporate treasury teams
A human-powered verification service where corporate treasury teams submit beneficiary details (name, account, bank, country) 24–48 hours before wire execution. BeneficiaryMatch contacts the receiving bank via SWIFT gpi or local correspondent channels to confirm exact name-on-account match, flags discrepancies in real-time, and returns a signed verification certificate the company can attach to their wire instruction. The company's bank sees the pre-verified certificate and processes with confidence.
41 weeks • 70% confidence
Value Proposition
Eliminates 95% of wire rejections and misdirections by validating names BEFORE submission, reduces wire-failure resolution time from 5–10 days to near-zero, and gives finance teams audit-trail proof they did due diligence—critical for compliance and internal controls.
Target Audience
CFOs, controllers, and treasury managers at mid-market companies ($100M–$1B revenue) making 10+ international wires monthly; also accounts payable teams at importers/exporters with recurring vendor payments across borders.
Key Features
- Dedicated verification team fluent in local banking systems (SWIFT, local correspondent networks, regulatory quirks per country)
- API or dashboard to submit beneficiary details with wire amount and urgency level
- Real-time SWIFT gpi lookup integration where available; manual correspondent bank calls for non-gpi corridors
- And more, with full implementation detail...
Tech Stack
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Sign up freeOriginal Problem
International wire transfers fail or get rejected due to mismatched beneficiary namesPeople sending money internationally via SWIFT/wire transfers experience transaction failures, delays, or rejections when beneficiary names don't match bank records exactly—even by a single character or formatting difference. This causes lost money, stuck transfers, and no clear way to recover funds. Current banking systems provide no real-time validation or correction mechanism before payment is sent.
Score: 17.5%