Whitelisted Beneficiary

The "Whitelisted Beneficiary" feature on the ANB Connect, enables corporate clients to streamline their payment processes through a pre-approved list of beneficiaries. This secure functionality ensures that only authorized transactions are processed, reducing the risk of fraud and errors.

With seamless integration into the ANB Connect API, clients can easily create and update their whitelisted beneficiary list, maintaining control over payment destinations. This feature enhances payment efficiency, allowing businesses to focus on their core operations while ensuring a secure financial environment.

Enhanced Security: Limiting transactions to whitelisted beneficiaries reduces the risk of unauthorized payments and fraud.

Efficiency in Payment Processing: Automated verification against whitelisted accounts accelerate the transaction process and minimize errors.

Reliable Transactions: Restricting payments to verified beneficiaries minimizes the chance of payment errors, creating more dependable financial process.

To activate and manage the Whitelisted Beneficiary service via the ANB Connect, clients will need to fulfill the following:

• Corporate IDs: Clients should have their designated Corporate IDs ready. The system allows up to 10 Corporate IDs, separated by a semicolon (“;”), to be configured for whitelisting purposes.
• Enable Whitelisting: To start using the service, clients need to check the "Enable Beneficiary Whitelisting" option, which then provides access to input fields for entering their Corporate IDs.

• Navigate to the ANB Connect API Marketplace and select the Whitelisted Beneficiary service.
• Enable the whitelisting feature by checking the "Enable Beneficiary Whitelisting" option.
• Input up to 10 Corporate IDs, separated by semicolons (“;”), in the provided field.

• Once activated, the system automatically filters and authorizes payments only to the pre-approved beneficiaries associated with the configured Corporate IDs.
• Clients can easily modify the Corporate ID list as needed directly through the ANB Connect portal, allowing them to update the whitelisted beneficiaries efficiently.

• Each transaction request is validated against the whitelisted beneficiaries to ensure it aligns with the approved list.
• If a payment is directed to a non-whitelisted beneficiary, the system will block the transaction and an alert will be issued, ensuring only authorized payments are processed.

• All information related to the whitelisted beneficiaries is securely stored and logged for compliance and audit purposes within ANB Connect, giving businesses peace of mind and a clear transaction history.