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Bank Account Validation

Validate the bank account before the supplier is ever approved.

Bank account validation usually happens in accounts payable, when a change request arrives and someone has to decide whether to trust it. TYS validates ownership at supplier qualification, before the supplier is approved. Every change after that is re-verified the same way.

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The exposure window between approval and first payment Supplier approved First payment Unverified Validated in accounts payable, after approval. Verified TYS validates at qualification, before approval.

Verify the Account Before You Approve the Supplier

By the time a bank account request reaches accounts payable, the supplier is already approved and already in your ERP. Every control from that point on is a control on a relationship you have already accepted.

Validated in accounts payable Validated at qualification
The supplier is already approved The supplier is not yet approved
The account is already in your ERP The account is verified before it reaches your ERP
Bank validation is a separate step Bank validation runs in the same workflow as legal entity, tax and compliance verification
The question is whether this change is legitimate The question is whether this account belongs to this entity

Approving a supplier is not the last time the account gets verified. It is the first.

Verify the Account, and Who Owns It

Your supplier submits their bank details once. TYS verifies them against authoritative bank and clearing data in real time.

What your supplier provides
Routing and account numbers
The name and location of the bank
Proof of account ownership
Entered once, in their own secure portal.
→
What TYS verifies
The same details, checked against authoritative bank and clearing data in real time.
Including account holder name: whether the account is registered to the legal entity on your supplier record.
Discrepancies flag on the record with the specific fields named.

Your supplier is never phoned to confirm what they submitted. A callback model needs them to answer the phone every time, whether or not anything is wrong.

Validated at Onboarding, and Every Time It Changes

A supplier you approved last year can still have their bank details changed tomorrow, by them or by someone pretending to be them. Validation that only runs once is not a control.

At Onboarding

Bank details are verified before you approve the supplier. A mismatch blocks approval and notifies your reviewers in platform and by email, so onboarding does not complete while the flag is unresolved.

When Details Change

The new details are re-verified on submission. Your reviewers are notified by default. Where you configure an approval step, the supplier moves into lifecycle update review and stays there until someone clears it.

When an Auditor Asks, You Can Show Them

Every action on a supplier record, by your team and by your supplier, is dated and stored in the Relationship History. Entries cannot be changed or deleted afterwards by anyone, because the record is written to a blockchain.

So when someone asks you to prove an account was verified before that supplier was approved, you are not reconstructing it from email threads. You open the record.

That verified, unchangeable record is what TYS calls a Trusted Golden Record. Not supplier data cleaned up and merged, but data verified at source and owned by the supplier.

Relationship History
Bank details submitted 4 Feb
Onboarded 4 Feb
Bank details updated 14 Mar
Lifecycle Update Review 14 Mar
Each entry is written once. It cannot be amended or deleted, by your team, by your supplier, or by us.

Cleansed data is tidier. Verified data is true.
Only one of them tells you the account belongs to your supplier.

Common Questions About Bank Account Validation

Most bank account validation happens in accounts payable, when a change request arrives and someone decides whether to trust it. By then the supplier is already approved and already in the ERP. TYS validates at supplier qualification instead, in the same workflow that verifies legal entity, tax registration and compliance documents, so an account is confirmed as belonging to the supplier before that supplier can be approved.
The supplier enters their bank details once in their own secure portal: routing and account numbers, the name and location of the bank, and proof of account ownership such as a bank statement or letter. After that, nothing. TYS verifies those details against authoritative bank and clearing data. There is no callback to place, no phone confirmation and no separate verification step, which is what callback based models require every time.
Confirming that an account number is correctly formatted and that the bank exists tells you the account is real. It does not tell you whose it is. Ownership validation confirms the account is registered to the specific legal entity on the supplier record. TYS validates both the account details and the account holder name.
At onboarding, approval is blocked and the assigned reviewers are notified in platform and by email. The alert names the specific fields that failed, for example the account holder name or the IBAN, rather than reporting a generic exception. The supplier does not complete onboarding while the flag is unresolved. The control sits on the supplier's approval status, since TYS does not run payments.
The new details are re-verified against authoritative sources when they are submitted. By default the assigned reviewers are notified. Where an approval step is configured, the supplier moves into lifecycle update review and stays there until someone clears it, rather than returning to onboarded status automatically. Supplier portal access is protected by two-factor authentication, so a change request has to come from an authenticated account before it is re-verified.
Every buyer and supplier action on a supplier record is dated and stored in the Relationship History, TYS's blockchain record. Entries cannot be changed or deleted afterwards by anyone. So when an auditor asks you to show that an account was verified before the supplier was approved, the record is there with dates, rather than something to reconstruct from email threads.

See It Before You Talk to Anyone

Walk through bank account validation, identity verification and audit readiness in your own time.

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