Achilles partners with DIRO to launch real-time bank account verification, preventing fraud and boosting trust in global supplier payments.
In a significant move to strengthen financial integrity across global supply chains, Achilles, a global leader in supply chain risk and performance management, has announced the launch of its Bank Account Verification service in partnership with DIRO, an AI-powered digital verification platform.
As payment fraud continues to rise worldwide, misdirected funds pose a growing threat to businesses, suppliers, and financial operations. The new solution enables real-time authentication of supplier bank accounts, helping buyers ensure that payments land in the correct destinations while suppliers benefit from faster, secured transactions.
By integrating DIRO’s patented technology, the Achilles platform allows suppliers to verify their bank details through trusted sources, including banks, government portals, and utilities. This automated and digital process reduces delays, improves compliance, and increases confidence in cross-border transactions.
“Working with DIRO allows us to tackle one of the most pressing risks in global supply chains today,” said Mark Chamberlain, Chief Product Officer at Achilles. “By combining DIRO’s AI-powered verification with Achilles’ supply chain expertise, businesses can reduce the risk of payment fraud, strengthen trust, and keep commerce flowing efficiently.”
Echoing this, Per Jirstrand, CEO at DIRO, emphasised the stakes: “The cost of a single fraudulent payment can be devastating. Together, we’re giving businesses and suppliers a new level of confidence: that payments are directed to the right account, every time.”
Smitha Shetty, Regional Director, APAC at Achilles, added that in today’s interconnected environment, trust must be verified, not assumed. “As global trade digitises, ensuring transparent, verified transactions will be central to responsible business.”
The service unlocks major benefits for both buyers and suppliers:
- Safer Payments: Real-time bank detail checks to avoid fund diversion
- Faster Onboarding: Encourages swift verification, reducing administrative delays
- Compliance Support: Strengthens KYB and AML workflows
- Global Reach: Access to over 44,000 banks, 9,000 utilities, and 700 government sources across 195 countries
“Bank Account Verification is the latest example of how we invest in trusted partnerships and innovative technologies,” Chamberlain added, reinforcing Achilles’ mission to make global supply chains safer, more ethical, and more transparent.
With fraud risks escalating and digital trade accelerating, this collaboration offers businesses a timely safeguard, ensuring trust remains a currency every organisation can rely on.
Source: PR
