CBA unveils country-first validation deal with JP Morgan

Commonwealth Bank of Australia.
Editorial credit: TK Kurikawa /

The Commonwealth Bank of Australia (CBA) has partnered with JP Morgan to become the first Australian bank to validate bank account details for international payments to the country.

Under the agreement, CBA will pilot the sharing of limited payee account data using its advanced NameCheck technology on the Liink network. This Australian first aims to enhance security and efficiency for global banks processing payments to the nation’s consumers.

CBA’s NameCheck uses advanced technology and payment data to verify the accuracy of account details. Introduced to retail and business customers in 2023, it is being expanded to more payment types. The technology is also available via API to external organisations to help prevent scams and mistaken payments.

Mike Vacy-Lyle, Commonwealth Bank’s Group Executive Business Banking, said: “We are delighted to be able to enable our NameCheck technology on Liink by JP Morgan, in an effort to combat scams and mistaken payments. Scams are a significant threat to customers and businesses not just here in Australia, but globally.

“We firmly believe a coordinated, whole-of-ecosystem approach is required across institutions operating in various sectors and jurisdictions. Our move to pilot our NameCheck technology on Liink by JP Morgan is a big step forward in addressing the impact of scams.”

This partnership follows CBA’s domestic efforts to fight against fraud. The company has helped its clients prevent millions of dollars in misdirected payments and scams since piloting the technology.

Liink by JP Morgan is a secure network enabling peer-to-peer information exchange among global financial entities like banks, credit unions, fintechs and digital banks. Its Confirm application facilitates global account validation.

Developed by JP Morgan’s blockchain unit Onyx, Liink offers scalable solutions and ecosystems that aim to revolutionise the movement of information, money and assets.

Umar Farooq, CEO of Onyx by JP Morgan, commented: “Failed and fraudulent payments are an increasing threat to financial institutions, corporations and customers globally. 

“We developed Onyx and its Liink network to bring the ecosystem together to solve payment-related issues in a collaborative way by first breaking down data silos. 

“We are excited to work with CBA to enable their NameCheck technology on a cross-border basis. This will be a pivotal effort in the continued path towards the better protection of our users and collective growth of the market.”