Achilles, a global leader in supply chain risk and performance management has announced the launch of Bank Account Verification in partnership with DIRO, an AI-powered digital verification platform.
The solution provides businesses with real-time authentication of supplier bank accounts, helping prevent misdirected payments and build trust across supply chains.
The rise of payment fraud, where funds are sent to fraudulent accounts, poses a significant challenge for organisations worldwide. By integrating DIRO’s verification technology directly into the Achilles platform, suppliers can now securely confirm their bank details through trusted sources such as banks and government portals. This ensures that buyers have confidence that payments reach the correct account, while suppliers benefit from timely, secure transactions.
Mark Chamberlain, Chief Product Officer at Achilles commented:
“Working with DIRO allows us to tackle one of the most pressing risks in global supply chains today.
“By combining DIRO’s AI-powered verification with Achilles’ supply chain expertise, businesses can reduce the risk of payment fraud, strengthen trust, and keep commerce flowing efficiently.”
The new service supports buyers and suppliers alike:
- Safer Payments – Verify supplier bank details in real time to prevent misdirected funds.
- Faster Onboarding – Encourage suppliers to complete verification quickly, reducing delays.
- Compliance Support – Strengthen Know Your Business (KYB) and Anti-Money Laundering (AML) workflows.
- Global Reach – Access to over 44,000 banks, 9,000 utilities, and 700 government sources across 195 countries.
Per Jirstrand, CEO at DIRO said:
“At DIRO, our mission is to bring absolute trust into digital transactions. By partnering with Achilles, we’re extending our patented verification technology into global supply chains—where the cost of a single fraudulent payment can be devastating. Together, we’re giving businesses and suppliers a new level of confidence: that payments are directed to the right account, every time.”
“Achilles is committed to raising standards across global supply chains,” added Chamberlain. “Bank Account Verification is the latest example of how we are investing in trusted partnerships and innovative technologies, giving customers the confidence they need to operate securely and responsibly.”
Achilles Information Ltd. also manages the Achilles Utilities Vendor Database (UVDB), a community-driven compliant prequalification system designed for regulated utilities in the UK and the wider UK utilities market. The UVDB is widely used by UK water companies to select suppliers for invitation to participate in regulated procurement procedures.
Click here for more information about Achilles' Bank Account Verification service
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