Bank Account Verification API - digio API

Overview

• The Bank Account Verification API from digio offers a secure and compliant solution for verifying bank accounts in India.
• It is designed for use in the FinTech industry, specifically in KYC and AML processes.
• The API provides bank-grade security, ensuring the highest level of data protection.

Major Customers Using It

• This Api will be use by inancial institutions including large banks and NBFCs.

• Source : (https://documentation.digio.in/digikyc/bank_account_verification/)

Features & Integrations

• Bank account verification
• KYC and AML compliance
• Integration with mobile and web applications
• Bank-grade security
• Developer-friendly APIs and SDKs

Use Cases

• Verifying bank accounts for KYC processes
• AML compliance checks
• Secure transactions in FinTech applications

Documentation Link

• (Digio API Documentation)

Developer Support

• Developer support available through the digio community forum
• Dedicated support team for troubleshooting
• Comprehensive API documentation to assist developers

Advantages

• Robust bank account verification process
• Compliance with KYC and AML regulations
• Bank-grade security provides peace of mind
• Scalable solution suitable for businesses of all sizes
• Developer-friendly APIs and SDKs make integration easy

Company Information

• digio is a leading provider of API solutions in the FinTech industry.
• The company was founded with the goal of simplifying complex processes through technology.
• Their solutions are trusted by businesses across India.

Year Company Founded

• 2016

Social Profile Links

Linkedin: "(Digio LinkedIn)"

FAQ

• What is the Digio Bank Account Verification API?
  The Digio Bank Account Verification API enables businesses and financial institutions to verify the authenticity of customer bank accounts quickly and securely. It is designed for seamless integration into KYC (Know Your Customer) and AML (Anti-Money Laundering) workflows, providing bank-grade security.

• Who are the major customers using this API?
  Major customers include large banks, NBFCs (Non-Banking Financial Companies), insurance companies, and fintech startups that need robust account verification for onboarding, payments, and compliance processes.

• What are the main features of the API?
  Secure and compliant bank account verification, KYC and AML compliance, bulk and single account verification options, integration with mobile and web applications, and developer-friendly APIs and SDKs.

• What methods does Digio use for bank account verification?
  Digio offers several verification options, including penny drop (small credit transfer to verify account and holder's name), reverse penny drop (customer initiates a nominal UPI transaction for validation), and IFSC and VPA verification.

• How does the penny drop verification method work?
  The API sends a nominal amount (e.g., ₹1) to the provided bank account, capturing account status and validating the account holder's name with fuzzy logic for better accuracy.

• Does the API support bulk account verification?
  Yes, Digio supports both individual and bulk bank account verification through its enterprise dashboard and APIs, allowing businesses to validate large customer sets efficiently.

• Is the API compliant with Indian regulatory standards?
  Yes, Digio's solutions comply with India's KYC and AML regulations, providing confidence to regulated entities.

• Where can I find the official API documentation?
  You can access Digio's Bank Account Verification API documentation at https://documentation.digio.in/digikyc/bank_account_verification/