Industries / Banks

Reduce risk, improve customer outcomes, and unlock trusted collaboration.

Banks sit on both sides of the exchange. They need facts that other institutions hold, and they hold facts that others need. OpenCheque lets both happen without a single customer record changing hands.

Talk to us How the exchange works

Use cases

Outcomes for banks.

Outcome 01

Open business accounts in a day, not a fortnight

Today: Business onboarding still runs on utility bills, letters and certified copies. They are slow to collect and easy to forge.
With OpenCheque: With the customer’s permission, ask the utility whether service is active at the premises the business gave you. The utility answers from its own records.

Fewer document requests and follow-ups
Forged paperwork stops working
Legitimate businesses start trading sooner

BanksAnswers only

BankUtility

“Is there an active service at the premises this business supplied?”

Yes, active

Customer approved in the utility’s own app

Illustrative example.

Outcome 02

Stop mule accounts before the money leaves

Today: A payment to a newly opened account is one of the clearest warning signs of a scam, but the sending bank cannot see how old the receiving account is.
With OpenCheque: Before releasing a high-risk payment, ask the receiving bank one question about the beneficiary account.

New-account risk is visible at the moment of payment
Customers are protected without blocking genuine payments
No account details or history are disclosed

BanksAnswers only

Bank ABank B

“What is this account’s tenure?”

3 years and 4 months

Consent initiated by Bank A

Illustrative example.

Outcome 03

Close investigations faster, in either direction

Today: Confirming a single fact with another bank can take weeks of letters, and open cases keep customers under restriction while they wait.
With OpenCheque: Ask the counterparty bank whether an identified transfer arrived. The answer supports escalation, or lets you close an unfounded suspicion.

Shorter case cycle times
Fewer customers restricted while facts are chased
An answer with provenance for the case file

BanksAnswers only

BankBank

“Was this identified transfer received by the named account?”

Yes, received

Illustrative example.

Outcome 04

Lend to thin-file businesses on verified facts

Today: Established traders are declined because the proof of their activity sits with a tax authority or customs service the bank cannot see.
With OpenCheque: With the applicant’s consent, ask the authority for a narrow count. No returns or declarations are shared.

Credit decisions based on evidence, not paperwork
Less manual review per application
More good businesses approved

BanksAnswers only

Lender | BankTax Authority

“How many returns are attributed to Company C?”

5 returns: 2 personal, 3 business

Consent initiated by Lender | Bank

Illustrative example.

Use cases and answers are illustrative. Every offering is agreed with the provider and depends on the applicable law, contracts and permissions.

Your role

Two ways to take part.

As a subscriber

Ask for the answers you need.

Business and sole-trader onboarding
Payment-fraud and scam prevention
Fraud and AML investigations
Credit decisions for thin-file customers

As a provider

Publish the answers you can give.

Account tenure and standing
Receipt of an identified transfer
Verified identity-attribute correspondence

Other industries.

Fintechs

Scale with confidence through trusted data partnerships.

Telecoms

Combat financial crime across wider ecosystems.

Public sector

Build safer, more inclusive communities with trusted insights.

Insurance

Price risk and settle claims on verified facts.

Banks

Tell us the outcome you need.

We will show you the question that gets you there, who could answer it, and how it would run on the exchange with your systems as they are today.

Talk to us

Trust isn’t a feature.
It’s infrastructure.
OpenCheque