Eftsure has reached a new milestone in supplier verification. New customers now see an average 85% supplier auto-verification rate at onboarding.
For most organisations, that means the majority of their supplier base is already verified when they join the platform. The shift reflects the scale of Eftsure’s global supplier intelligence network and the cumulative impact of verified data over time.
The network effect in practice
When Eftsure began operations, supplier verification was largely manual. In 2014, new customers typically saw around 40% of their suppliers verified at onboarding. By 2020, that figure had increased to approximately 65%.
Today, the average is 85% instant verification.
The increase is driven by shared, network-verified data. As more organisations verify their suppliers, the database expands and strengthens. Each verified record improves overall coverage and accuracy across the network.
Verification becomes more automated as the dataset grows.
Eftsure’s Chief Product Officer Ramesh Menon explains that this process is not simply about matching bank details to entity names:
"The verification process uses multiple layers of validation before a supplier record is added to the network.
In addition to confirming banking information, the controls verify that the business itself is legitimate and do not have any fraud indications. This distinction may appear subtle, but it can be critical in preventing fraudulent transactions."
What 85% instant verification means for finance teams
For finance, treasury and accounts payable teams, higher auto-verification rates reduce friction at onboarding and improve control coverage from the start.
This milestone supports:
- Faster onboarding, as most suppliers are verified immediately
- Reduced manual workload, with fewer outbound calls and follow-ups
- Stronger fraud controls through network cross-matching
- Greater operational focus on exceptions rather than routine checks
Instead of beginning with a blank slate, new customers connect to an established verification network with international coverage.
Building a global supplier intelligence network
At the centre of this progress is Eftsure’s supplier intelligence database. The database is built through independent verification methods designed to validate supplier payment details before they are relied upon.
These methods include:
- Secure bank-linked verification
- Cross-matching supplier records across the network
- Direct phone-based verification controls
Each verified record contributes to broader fraud prevention efforts. As the network expands, coverage improves across industries and regions.
Global coverage and growing automation
As Eftsure continues to expand internationally, suppliers operating across borders accumulate multi-entity verification histories. This provides additional assurance for organisations managing complex global supplier ecosystems.
Higher auto-verification rates do not remove the need for oversight. They reduce repetitive manual effort while maintaining layered controls.
For new customers today, the result is clear: an average of 85% of suppliers verified at onboarding.
That represents a meaningful shift in how organisations approach payment fraud prevention. Instead of relying on isolated verification processes, finance teams can operate within a connected data network that strengthens over time.
To see how instant auto-verification could support your supplier onboarding and payment controls, request a demo today.
