Company: Sis ID
CEO: Laurent Sarrat
Website: https://sis-id.com/en/
About Sis ID
According to the UK Finance Annual Fraud Report 2024, criminals stole nearly £1.2 billion through payment fraud in 2023. Despite growing regulation in this space designed to tighten up business’ fraud controls and place more accountability on the wider payment ecosystem, this figure is predicted to keep growing as fraudsters’ tactics become increasingly advanced.
The need for effective and collaborative fraud detection and prevention measures has never been greater.
Created and conceived in 2016 by a group of Chief Financial Officers and treasurers, Sis ID
is a fintech company focused on combatting bank transfer fraud. Our platform provides businesses and financial institutions with tools to verify the correct ownership of bank accounts, secure payment data and streamline financial processes. These solutions are designed to: ensure payments are made to the correct parties, anticipate and detect fraud attempts, secure and update beneficiary databases and streamline processes from purchase to payment.
We now have 70 employees across Europe, over 300 customers and 90,000 users. We’re building out a collaborative ecosystem based on partnerships and data sharing between our business customer users (including the likes of British Petroleum, Snyk, VINCI), banks and insurers (like BNP Paribas and Allianz Trade), consulting firms (like KPMG) and payment authorities (like Swift and the European Payments Council). With this approach, over 83,000 companies have been certified by our platform and over 1.3 million searches are made each month by our users.
Our products include:
– My Sis ID: an intuitive web-app interface that secures payments and simplifies the traceability of transactions. Users can access a centralised view containing the list of time-stamped checks, supplier invitations and audit trails associated with each check from the ease of a web browser.
– Sis Inside: APIs and connectors facilitate adaptation to a business’ processes by enabling teams to benefit from the Sis ID solution without changing their software environment. Checks can be automated on beneficiaries’ bank details using Sis Inside APIs and users get reliable, up-to-date data in real time.
– VoP Suite: a beneficiary verification service that complies with European Verification of Payee (VOP) requirements, such as the Instant Payment Regulation (IPR).
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