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Payments & Account Funding | Use Case | Inverite Insights

Payments | Account funding

Every payment starts with a verified account.

Fund new accounts, collect recurring payments, send transfers and disburse payouts, all from bank data verified directly with the customer’s financial institution. Inverite provides the verified data; your payment provider or an Inverite preferred partner moves the money.

Talk to a payments expert See workflows by industry

What verified data can power

Four financial actions. One verified-data foundation.

These are the financial actions that can follow Inverite verification. Inverite provides the verified data; your existing payment infrastructure or an Inverite preferred partner executes the transaction.

Fund · Account funding

Turn account opening into account activation.

Funding is much broader than loan funding. Verify the external bank account, retrieve its details and pass verified information to the payment infrastructure that funds the new account.

  • New bank account funding
  • Chequing account funding
  • Savings account funding
  • Fintech account funding
  • Digital account funding
  • Wallet funding
  • Loan funding
  • Wealth & investment account funding

Typical funding workflow

  1. 1
    Verify the external bank accountInverite Bank Verify
  2. 2
    Retrieve verified account detailsInverite Bank Verify
  3. 3
    Pass verified information to payment infrastructureYour systems
  4. 4
    Fund the new accountYour provider or an Inverite preferred partner

Collect

Bring funds in — once or on an ongoing basis.

Use verified bank information to support payment setup, one-time payments, recurring transfers and scheduled payments through your payment infrastructure or an applicable preferred partner.

  • PAD setup
  • Recurring customer payments
  • Scheduled transfers
  • Savings contributions
  • Wealth & investment contributions
  • Account top-ups
  • Loan repayments
  • EFT, ACH & account-to-account payments
  • Other ongoing money-in workflows

Available methods depend on the payment infrastructure used.

Pay

Payments and transfers.

  • Payments to verified accounts
  • Account-to-account transfers
  • Vendor & merchant payments
  • Currency transfers through your provider or a preferred partner

Executed by your provider or an applicable preferred partner.

Disburse

Send funds out.

  • Customer payouts
  • Loan disbursements
  • Withdrawals
  • Merchant & vendor payouts
  • Other supported disbursement workflows

Available methods depend on the payment infrastructure used.

By industry

One verified-data foundation. Many financial workflows.

Payment and funding workflows shouldn’t begin with unverified account information. The same Bank Verify architecture supports very different workflows, whether the transaction runs on your existing payment infrastructure or through an Inverite preferred partner.

Digital banking & savings

From account opening to ongoing funding.

Digital onboarding doesn’t end at the identity check. Bank Verify verifies the external account used to fund the new account and, where applicable, provides the banking information downstream infrastructure needs to set up future transfers or contributions. See Digital Onboarding & Account Setup.

  1. Verify identity
  2. Verify the external bank account
  3. Open the account
  4. Fund the account (payment action: Fund)
  5. Set up one-time or recurring transfers to grow the balance (payment action: Collect)

ExamplesInitial depositsSavings account fundingRecurring savings contributionsScheduled transfersAccount top-ups

Wealth & investing

From initial funding to recurring contributions.

The same Bank Verify foundation supports the initial funding experience and the banking information needed for ongoing contributions, whether the platform uses its existing payment infrastructure or one of our preferred payment partners. Investment services remain with the platform.

  1. Verify the investor
  2. Verify the external funding account
  3. Fund the investment account (payment action: Fund)
  4. Set up recurring contributions to keep investing (payment action: Collect)
  5. Support future deposits and withdrawals (payment action: Collect / Pay)

ExamplesInitial investmentWealth account fundingInvestment account fundingRecurring investment contributionsScheduled depositsLinked external bank accountsWithdrawals & payouts

Payments, transfers & FX

Verify before the transfer.

Bank Verify works upstream as the account-verification layer. Your existing payment, transfer or FX provider, or one of our preferred payment partners, executes the transaction.

  1. Connect bank
  2. Verify the account
  3. Retrieve account details and balance
  4. Your provider or one of our preferred payment partners executes the transaction (payment action: Pay)
  • Payment-provider account verificationVerify ownership and retrieve banking information before the provider sets up its payment workflow.
  • Currency transfersVerify the account and balance before setting up the transfer through your existing currency-transfer provider or one of our preferred payment partners.
  • Foreign-exchange funding verificationConfirm ownership, bank details and balance before an FX transaction is set up with your FX provider or one of our preferred payment partners.
  • Payout account verificationVerify destination account information before payout workflows are set up.

Inverite verifies the bank account and provides the relevant financial information upstream. It does not perform currency exchange, set exchange rates or execute transfers. Those are handled by your existing provider or one of our preferred payment partners, including cross-border payments where supported.

Executed throughYour existing provideroran Inverite preferred partner

Fintech & digital accounts

From onboarding to an active, funded account.

Verify the customer, link their external bank account, then fund, top up and move money in and out of the digital account or wallet through the infrastructure you choose.

  1. Verify the customer
  2. Link the external bank account
  3. Fund the account or wallet (payment action: Fund)
  4. Top up and support recurring transfers (payment action: Collect)
  5. Support withdrawals and payouts (payment action: Pay)

ExamplesDigital account fundingWallet fundingAccount top-upsRecurring transfersWithdrawals

Lending & credit

From origination to ongoing repayment.

Lenders can use their existing payment provider or an applicable Inverite preferred partner for loan funding, repayment setup and ongoing collections.

  1. Verify the borrower
  2. Verify the bank account
  3. Understand income and cash flow
  4. Assess risk
  5. Fund the loan (payment action: Fund)
  6. Set up repayment / PAD (payment action: Collect)
  7. Collect ongoing repayments (payment action: Collect)

ExamplesLoan fundingPAD setupScheduled repaymentsRecurring repaymentsOngoing loan collections

Executed throughYour existing provideroran Inverite preferred partner

Commerce & marketplaces

Verify the participants, then collect and disburse.

Verify the users and businesses on your platform, then collect and disburse funds through your payment infrastructure or one of our preferred payment partners.

  1. Onboard participants
  2. Verify identities and bank accounts
  3. Collect funds (payment action: Collect)
  4. Disburse funds (payment action: Disburse)

ExamplesMerchant payment acceptanceCard processing via applicable infrastructureCollectionsMerchant & vendor payouts

Need payment infrastructure?

Keep the provider you already use, or work with an Inverite preferred partner: VoPay, PaymentWerx / FintechWerx or Buckzy Payments. Methods, availability and settlement times vary by partner, jurisdiction and use case.

Meet our payment partners

VerifyConnectChooseAct

Start with verified bank data. Connect it to what happens next.

Use Inverite with the financial infrastructure you already have, or explore additional capabilities through our preferred payment partner ecosystem. From digital account and wealth funding to payments, transfers, collections and payouts, connect verified financial data to the next step in the customer journey.

Talk to a payments expert
Or email us at sales@inverite.com