BID: Beneficiary Identity Dispatch
Comprehensive identity verification for every wire - beneficiary binding, phone, email, address, personal identity, and company checks. Full KYC/KYB coverage in a single API.
$2.9B lost to BEC fraud annually (FBI IC3 2024). One API call changes that.
How It Works
Four steps from registration to verified settlement. No manual review. No guesswork.
Register Beneficiary
Bank submits beneficiary details. JIL computes cryptographic binding hash and verifies Ed25519 signature.
Submit Payment Intent
Sending bank submits payment intent with beneficiary reference. JIL dispatches verification.
Verify Identity
JIL runs sanctions screening, recomputes binding hash, verifies signature, returns trust score.
Release or Block
Bank receives verified/failed result with compliance decision. Funds released only on verified.
Identity Verification Suite
Five automated check types - technology-driven, not manual review. Every verification runs through vendor APIs and cryptographic validation in under 2 seconds.
Phone Verification
Validate number format, line type (mobile/landline/VoIP), carrier lookup, and reachability scoring.
From $0.03/checkEmail Verification
Syntax validation, MX record check, disposable email detection, and deliverability verification.
From $0.03/checkAddress Verification
Format validation, postal code verification, standardization, and country-specific pattern matching.
From $0.03/checkPersonal Identity
Name match verification, account ownership, sanctions screening, PEP status, and adverse media checks. For personal accounts - is this person on the account?
From $0.20/checkCompany Verification
Business registration lookup, good standing status, jurisdiction verification, LEI validation, officer identification, and sanctions screening. For companies - is registration active and in good standing?
From $3.50/checkSimple API. Full Protection.
Register a beneficiary, verify on every wire, and run identity checks. Production-ready REST API with Ed25519 signature binding.
Transparent, Volume-Based Pricing
No hidden fees. No annual contracts. Pay per verification.
| Endpoint | Starter$99/mo min | Pilot$499/mo min | Pro$1,999/mo min | Enterprise$9,999/mo min |
|---|---|---|---|---|
| Register | $0.50 | $0.35 | $0.20 | $0.12 |
| Verify | $0.50 | $0.35 | $0.20 | $0.12 |
| Submit (E2E) | $1.00 | $0.70 | $0.40 | $0.25 |
| Phone Check | $0.10 | $0.08 | $0.05 | $0.03 |
| Email Check | $0.10 | $0.08 | $0.05 | $0.03 |
| Address Check | $0.10 | $0.08 | $0.05 | $0.03 |
| Person Check | $0.75 | $0.50 | $0.35 | $0.20 |
| Company Check | $8.00 | $6.00 | $4.50 | $3.50 |
| Status | Free | Free | Free | Free |
| Rate Limit | 60/min | 120/min | 300/min | 1,000/min |
Pricing for identity verification checks (phone, email, address, person, company, KYC, KYB) depends on third-party vendor rates and is subject to change. JIL reserves the right to adjust per-check fees with 30 days' written notice.
JIL as Trusted Intermediary
Full end-to-end dispatch for banks that want turnkey BEC protection.
Sending Bank
Initiates wire transfer and submits beneficiary details via REST API
JIL BID Engine
Cryptographic binding (Ed25519) / OFAC + EU sanctions / Vendor identity checks / Trust scoring
Receiving Institution
Receives verified/blocked decision with compliance attestation via webhook
JIL acts as a neutral verification layer between counterparties. The BID engine constructs the cryptographic binding, runs automated identity and sanctions checks through integrated vendor APIs, computes a trust score, and delivers the decision to the receiving institution - all within a single API round-trip. Coverage spans cross-border corridors across US, EU, UK, Switzerland, Singapore, UAE, and Japan.
The Math Is Simple
Internal Cost Breakdown
Core BID (register/verify/status): cryptographic hash computation + sanctions list lookup + database write = ~$0.005-$0.015 per call. Identity checks (phone/email/address/person/company) incur additional vendor API costs passed through at margin. Infrastructure amortized across volume.
Return on Investment
One prevented fraud incident pays for 258,000 verifications. At $0.50/check, that is 12+ years of continuous use for a single bank.
Gross Margin
96% gross margin on core BID at Starter tier ($0.50 revenue vs ~$0.01 cost). 88% gross margin at Enterprise tier ($0.12 revenue vs ~$0.01 cost). Identity check margins vary by vendor pass-through.