Use Cases
Common scenarios for using Volt Verify
Volt Verify enables various account verification scenarios. Here are the most common use cases.
Available Markets
Verify is currently available in Austria and Germany. More countries coming soon.
KYC Verification
Verify customer identity during onboarding by confirming they own the bank account they provide.
Scenario
A new customer signs up and provides their bank account details for payouts. Before enabling payouts, you need to verify they actually own that account.
Flow
Customer provides their IBAN during registration
Initiate Verify request for that customer
Customer authenticates with their bank
Compare returned account holder name with registered name
If matched, mark account as verified
Benefits
- Reduced fraud - Prevent account takeover during onboarding
- Regulatory compliance - Meet KYC requirements
- Automation - No manual document verification needed
Refund Verification
Before processing a refund to a customer's bank account, verify they own that account.
Scenario
A customer requests a refund to a different bank account than the one used for the original payment. Verify account ownership before processing.
Flow
Customer requests refund to a specific IBAN
Initiate Verify request
Customer authorizes at their bank
Match account holder name with customer record
Process refund if verified
Benefits
- Fraud prevention - Ensure refunds go to the rightful owner
- Dispute reduction - Avoid chargebacks and disputes
- Customer trust - Show customers you take security seriously
Fraud Prevention
Detect and prevent fraudulent account usage in real-time.
Scenario
A user attempts to link a bank account to their profile. Verify helps ensure the account belongs to them, not a stolen identity.
Red flags to watch for
| Indicator | Risk Level | Action |
|---|---|---|
| Name doesn't match at all | 🔴 High | Block and investigate |
| Partial name match | 🟡 Medium | Request additional verification |
| Different country than profile | 🟡 Medium | Verify with customer |
| Multiple failed attempts | 🔴 High | Temporary account lock |
Name matching considerations
Bank account names may differ from customer-provided names due to:
- Nicknames vs legal names (Max vs Maximilian)
- Middle names included/excluded
- Transliterations or character encoding
For simple cases, basic string comparison may suffice. For more complex matching needs, consider using Matchmeter.
Payout Account Setup
Verify accounts before enabling payouts to sellers, freelancers, or partners.
Scenario
A marketplace needs to verify seller bank accounts before enabling payouts.
Flow
Seller adds payout account in dashboard
Trigger Verify for the provided IBAN
Seller completes bank authorization
If verified, enable payouts to that account
Benefits
- Compliance - Meet regulatory requirements for payouts
- Security - Prevent payout fraud
- Trust - Build confidence in your marketplace
Combining with Payments
Verify works seamlessly with Volt Payments. You can:
- Verify before first payment - Confirm account ownership before accepting payment
- Verify for refunds - Ensure refund accounts are legitimate
- Link verification to customer - Store verified status for future transactions
Best practices
Recommendations
- Handle name variations - Account names may differ from customer names, check Matchmeter for more information.
- Cache verification results - Don't re-verify accounts unnecessarily
- Set appropriate thresholds - Decide what match score you'll accept
- Handle edge cases - Joint accounts, business accounts, name variations
- Log verification attempts - Maintain audit trail for compliance
Next steps
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