Bank Verification is an approval process specifically for the verification of the supplier's bank details. It is an important fraud prevention technique, confirming that payment will be made to the correct bank account.
Bank Verification takes place in parallel with the Section Approval workflow step.
To learn more about the Bank Verification workflow step and how it works, click here.
To learn more about the Bank Verifier user role, click here.
To verify the bank details on a supplier profile, please follow these steps:
- Select the supplier record you wish to approve.
You may do this by:- Clicking the link in the Bank Verification notification email you will have received;
- Selecting the supplier from your Worklist;
- Searching for the supplier in the Supplier List.
To find out more about the notifications you receive, please click here.
- The Supplier Profile will load. Navigate to the Supplier Data dashboard.
- Select the Banking Details tab on the left hand side. Bank Verification is a dedicated approval process, which by default is located in the Banking Details tab.
- Scroll to the bottom of the Bank Details tab and refer to the Bank Verification pane
- Perform your organisation's chosen method of verifying bank details. For example, you may be required to call the supplier and ask them to confirm their banking information over the phone.
- Once you have completed the required verification process, please complete the questions in the Bank Verification pane
- Once complete, click the Verify Bank Details button. This will confirm in Canopy that the bank details have been verified.
- Navigate to the 'Review' tab and click the 'Approve for Bank Verifier' button
Bank verification is now complete