Verituity provides an intelligent, verified payouts platform that enables smart B2B and B2C disbursements for banks and enterprises. Its platform verifies every payer, payee, account and transaction and uses advanced machine learning and AI models to power its Zero Trust Payout Verification™ and intelligent payments. The company says this minimizes risk, optimizes payout economics and ensures on-time digital payments to the right payee and payment account from the right funding account. Verituity is partnering with Mastercard Move to offer a white-label solution that enables secure, verified and near real-time payments for commercial banks and payers. The company plans to accelerate growth in banking and insurance and expand into mortgage servicing and energy. Management frames the product vision as eliminating checks and embedding verified, intelligent payouts into the fabric of business disbursements. Verituity offers a cloud-based, bank-grade platform that modernizes banks' treasury services and enables branded, verified digital payouts for business clients. Its platform unifies and automates identity verification, payment choice, payment account validation, risk and data compliance, and verified payment orchestration into a single web and mobile experience. By placing verification at the core of digital payouts, Verituity aims to reduce payout and compliance risks, lower operating costs, and enable banks to launch new revenue streams. The company targets use cases such as insurance claims, supplier payments, and merchant refunds where first-time and on-time payments are critical. Verituity plans to use new capital to expand go-to-market efforts and enhance its cloud-based verified digital payout platform. Headquartered in McLean, Va., it positions banks to compete more effectively with fintechs.

Total raised

$29M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2024