Experian, JPMorgan Embed Account Checks in Payment Workflows

Real-time payments move funds within seconds, leaving banks and businesses with a much narrower window to stop fraud. Because settlement is generally irreversible, controls built around batch reviews or post-transaction investigations are increasingly ill-suited to the faster payment environment. Account verification and real-time risk screening have therefore become critical safeguards before money leaves an account.

The latest research from PYMNTS Intelligence and Plaid found that 47% of surveyed companies cannot detect suspected fraud in real time or within minutes. The study linked account checks with faster fraud detection, highlighting a major weakness as instant payments expand. The findings suggest businesses need to verify account legitimacy and identify risk before a transaction is completed, rather than relying on recovery afterward.