BlueLedger is a SaaS fintech platform that automates accounts receivable/payable, reconciliation, and cash flow forecasting for mid-sized businesses. It connects to customer bank accounts to schedule payments and automate invoice workflows.

With increasing fraud attempts and a growing customer base, BlueLedger needed to confirm that bank accounts linked by users were truly theirs, not fraudulent or mismatched.

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The Problem

BlueLedger’s clients — mostly finance teams at companies with 50–500 employees — were experiencing:

• Suspicious transactions due to users adding accounts not belonging to them
• Complaints about failed payments and reversals
• Regulatory scrutiny around payment initiation and third-party account access

Internally, fraud detection was reactive. Their team had no way to proactively verify account ownership or catch account spoofing.

“Our automation was moving faster than our risk controls.”

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The Solution

BlueLedger implemented MonitorPay.ai’s Account Ownership Verification as a required check before a user can connect a bank account to initiate or receive payments.

• Real-time verification of legal account holder name
• Support for personal and business accounts
• Full audit logs of verification events, connected to user profiles
• Escalation workflows if mismatch or no verification is found

They also set up a monitoring system to alert internal ops teams when verified accounts changed or were removed.

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The Results

• ⛔ Prevented 11 attempted fraud cases in Q1 alone
• 🔐 Now verifies 100% of user-connected accounts automatically
• 📈 Increased customer trust and reduced complaints by 47%
• 📑 Built a compliance-friendly audit layer for SOC 2 & ISO27001 readiness
• 🧩 Integrated fully with their existing Python-based backend in 3 days

“We don’t guess anymore. Every account is verified. That’s a game-changer for fintech.”

— Chief Technology Officer, BlueLedger