Sis ID is expanding its coverage in Australia: over 90% of checks result directly in a definitive response

As businesses expand their operations internationally, the reliability of payment data is becoming an increasingly critical issue. Volumes are rising, organisations are seeking to further automate their financial processes and, at the same time, the risk of fraud is increasing in transactions involving ever more third parties, systems and geographical areas.

In this context, the ability to quickly and automatically verify that a bank account does indeed belong to the intended third party is essential.

It is with this in mind that Sis ID is expanding its coverage in Australia. Thanks to the integration of a new local banking data source, more than 90 per cent of checks carried out in the Australian market can now lead directly to a definitive result.

This development enables Sis ID to automatically verify the link between a third party and their bank account by querying the databases of major Australian banks, including the Commonwealth Bank of Australia, National Australia Bank (NAB) and Westpac.

Teams are therefore more frequently able to obtain a result that can be acted upon immediately, without the need for further verification.

This enhanced coverage meets a growing demand from clients with operations, subsidiaries or third parties in Australia, whilst contributing to the continuous improvement of Sis ID’s international coverage, with over 80 per cent of checks on average automatically yielding a definitive result by 2026.

For Finance, Accounts Payable and Treasury teams, the automation of controls is no longer just a matter of productivity.

Companies are now seeking to handle increasing volumes without increasing manual tasks, whilst maintaining a high level of reliability in their payment processes.

When a control cannot be completed automatically, teams often have to take additional steps: making follow-up calls, collecting supporting documents, liaising with third parties or manually analysing the information received.

In an international context, these procedures are even more cumbersome. For a European company working with Australian third parties, for example, the time difference can complicate the organisation of follow-up calls and prolong the time taken to validate bank details.

By enhancing automation, Sis ID therefore helps to reduce these dependencies and speed up decision-making.

The growth in international trade also creates more opportunities for fraudsters.

Identity theft, fraudulent alteration of bank details, and the compromise of transactions with a supplier: fraud scenarios can occur at various stages of the payment cycle and are all the more difficult to detect when teams are working with third parties located in different geographical locations.

In this context, relying solely on manual exchanges or information sent by email is no longer sufficient.

By enabling automatic verification of the match between a third party and their bank account using independent sources, Sis ID helps businesses ensure the reliability of data before it is used and reduce their exposure to fraud attempts.

For businesses operating in Australia, the benefits are therefore manifold: fewer manual checks, fewer call-backs, and a reduction in the operational burden involved in validating payment data.

But the stakes go beyond simply saving time.

Faster validation also allows for better control over the timing of transactions. Bank details awaiting verification can delay the creation or amendment of a third-party account, and subsequently potentially delay the execution of the payment itself.

By increasing the proportion of checks that result directly in a definitive response, Sis ID enables teams to reduce friction in their processes and to access reliable, actionable payment data more quickly.

Enhanced coverage in Australia is already available to all Sis ID customers, at no extra cost, across all connected solutions that enable checks to be carried out in this market.

This development is part of Sis ID’s ambition to provide businesses with a single source of truth for verifying their third-party payment data on an international scale, by combining automation, local sources and verification methods tailored to each market.

For businesses operating in Australia, this means enhanced coverage, more automated decisions, and better control over risks and payment operations.