Case Study: a $100B company achieves zero payment fraud with apexanalytix bank account ownership validation

$100b Company stops $14M in fraud with apexanalytix

A large global private company with $100 billion in revenue faced significant payment fraud challenges due to compromised supplier emails and ineffective manual verification processes. These vulnerabilities allowed fraudsters to attempt scams, including a stolen $1.4 million payment. To address this, the company partnered with apexanalytix for a solution.

apexanalytix implemented its supplier-facing portal and automated bank account ownership validation to replace the manual processes. This solution verified account details directly with trusted authorities. The results included zero payment fraud since implementation, the prevention of a $14 million loss, and four more thwarted fraud attempts, saving significant staff time and improving vendor data accuracy.