Introduction to Account Verification
Verify a user's identity in seconds using their bank account - no document uploads, no micro-deposits.
Account Verification
When a user opens a bank account, their bank performs a thorough KYC check on their identity. Account Verification lets you reuse that trust - without asking the user to go through a separate identification process.
Your user connects their bank account. nrich retrieves the account holder name and compares it to the name you provide using a name-matching algorithm. You get a structured result with a confidence level back in seconds.
Get credentialsSign in to console.qwist.cloud to generate sandbox credentials and test with the demo bank.
What this solves
Traditional identity verification forces users through friction-heavy processes: document uploads that take minutes to complete, micro-deposits that take days to confirm, or video ID checks that require human review. Every additional step in that process costs you conversion.
The insight behind Account Verification is that your user's bank has already verified their identity - at account opening, through a full KYC process. That verification is sitting there, accessible via open banking. Rather than repeating the exercise, you reuse the result.
| Document upload | Micro-deposits | Video KYC | Account Verification | |
|---|---|---|---|---|
| Instant result | ✗ | ✗ | ✗ | ✓ |
| No user document handling | ✗ | ✓ | ✗ | ✓ |
| Fraud-resistant | Partial | ✓ | ✓ | ✓ |
| No human review needed | ✗ | ✓ | ✗ | ✓ |
| Works at account opening | ✓ | ✗ | ✓ | ✓ |
When this is the right tool:
- You need to confirm that a bank account belongs to the person claiming to own it - for onboarding, loan applications, or payment authorisation.
- You want to combine identity verification with account data in a single user flow using the
readoutparameter - one user login, two outputs. - You are already collecting an IBAN from users (e.g. for payouts or direct debit) and want to verify ownership without a separate step.
When it is not enough on its own:
Account Verification confirms a name matches a bank account. It does not confirm government-issued ID, date of birth, or address. For AML or regulated KYC workflows, combine it with a document check or use it as a supporting signal rather than a sole verification method.
How it works
You can find a step-by-step description in the next section.
Name-matching algorithm
nrich's algorithm handles common name variations automatically:
- Different orderings:
"Müller, Maria"vs"Maria Müller"→HIGH - Umlauts and special characters:
"Hans Muller"vs"Hans Müller"→HIGH - Exact match:
"Maria Müller"vs"Maria Müller"→VERY_HIGH - No overlap:
"Maria Müller"vs"Thomas Schmidt"→LOW
Recommended thresholdFor most use cases, treat
VERY_HIGHandHIGHas a successful match.MEDIUMandLOWshould trigger manual review or rejection.
Coverage
Account Verification is available across all nrich-supported countries. Sign in to console.qwist.cloud to view the full bank and country list.
Account Verification
Available across all nrich AIS-supported countries