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nsKnox Technologies Solutions for the Public Sector

nsKnox offers a holistic, end-to-end solution with PaymentKnox™ for AP and AR

By integrating PaymentKnox™ nsKnox’s unique end-to-end payment protection solution, you can enhance the security of your financial transactions and eliminate the vulnerabilities of your existing manual processes with an automated, reliable, and highly secured approach to preventing fraud in both your organization’s outgoing and incoming payments.

PaymentKnox™ for Accounts Payable (for outgoing payments)

introduces a technology-driven approach that enables organizations to validate any account anywhere in the world and continuously verify that the master vendor data at rest is continuously validated and authorized.
The offering is comprised of three solutions:

  • Account Validation - of domestic and international accounts through advanced technologies and unique validation techniques.
  • Master Data Guard - for an automated and highly secure verification process that ensures that master vendor data is current, accurate, and hasn’t been tampered with by external or internal attackers.
  • Payment Check - Scan and analyze payment transactions before finalizing and executing them to ensure payments are made only to validated payees and their authorized accounts.

PaymentKnox for AR™ (Incoming Payments)

Organizations still use outdated manual processes to share and validate banking details, exposing paying and receiving entities to fraud. PaymentKnox(™) for AR enables your organization to register all incoming bank accounts and securely share them using the nsKnox fraud-proof Bank Account Certificate, which replaces outdated bank letters and void checks to confirm the ownership of an account.

PaymentKnox™ for Banks

This is the nsKnox complete coverage solution for banks - it is a secured SaaS platform that applies three layers of robust protection that goes far beyond signatory rights. It protects both the corporate client and the bank by ensuring that every beneficiary paid by the bank is:

  • Legitimate and authorized - Validating that the target account in every payment is registered and approved to receive payments by the bank’s corporate client.
  • Verified account ownership - Verifying that the target recipient is the rightful account owner anywhere in the world.
  • Is free from sanctions - Ensuring the target account owner doesn’t appear in global sanction lists.