Stratiform Systems is a regional IT infrastructure firm that manages large-scale projects for public institutions, telecom operators, and critical infrastructure providers. With sensitive B2B contracts and six-figure payouts to external partners, they needed bulletproof verification of account ownership.

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The Problem

Stratiform was nearly defrauded when a subcontractor’s email was compromised, and bank account details were fraudulently updated just before a scheduled payment of £180,000.

Manual IBAN structure checks wouldn’t have caught the fraud. They needed a way to verify legal ownership of the account — not just its existence.

“The account was real, but it wasn’t theirs. That’s the hardest type of fraud to catch.”

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The Solution

Stratiform integrated MonitorPay.ai’s Account Ownership Verification API as a mandatory step before processing any payout over £25,000.

The system:

• Verifies that the bank account is owned by the named individual or company
• Pulls data directly from banks or government registries
• Logs all checks in an auditable report for internal compliance

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The Results

• 🛑 Stopped a £180,000 fraud attempt within 3 days of rollout
• 🔐 All high-value transfers now require verified ownership
• 📊 Created a risk audit trail for CFO and auditors
• 🧩 Integrated via secure webhook with internal finance systems

“We now treat payment verification like cybersecurity. MonitorPay is our insurance policy.”

— CFO, Stratiform Systems