Beneficiary Name Matching

Beneficiary name matching compares the name on a recipient bank account to the beneficiary name provided in a payout or transfer request. This control reduces misdirected payments, mule usage, and authorized push payment fraud by verifying that money is sent to the intended party. Matching logic must handle ordering, punctuation, common abbreviations, and known variations such as initials.Thresholds should be tuned by corridor and transaction risk, with clear playbooks for near matches and exceptions. Where instant account data is available, combine legal name and account attributes for stronger assurance. Programs log consent, match scores, decisions, and supporting evidence for audit. When mismatches occur, step up verification or pause payouts until ownership is confirmed.