Commonly asked questions: What is WireVault and how we’re different

What is WireVault?

WireVault is a secure platform designed to safely and efficiently collect, store and share wire transfer information. It leverages best-in-class security measures, including two-factor authentication and blockchain technology, to protect your or your organization’s most sensitive information.

How does WireVault work?

WireVault replaces vulnerable and time-consuming methods of collecting and sharing wire transfer information, such as email and phone verification, with a user-friendly and secure web-based interface. It allows users to collect, share, and organize sensitive wire transfer information and notifies them of progress along the way.

See more: A step-by-step guide to using WireVault

What if I need to share wire transfer information with someone who doesn't use WireVault?

WireVault facilitates the sharing of wire transfer information with external parties. New users are prompted to create a free WireVault account and complete identity verification to collect or share wire transfer information.

How does WireVault ensure the security of transactions?

WireVault employs two-factor authentication for user verification, encryption for data privacy and private blockchain technology to ensure the integrity of transaction records. The platform also incorporates validation features that check important information and reduce human error.

What is two-factor authentication, and why is it required?

Two-factor authentication (2FA) enhances security by requiring users to provide a password and a verification code sent to their mobile device. This dual-step process ensures that accessing an account requires both the user's knowledge and possession of their phone.

What information is recorded on WireVault’s blockchain?

WireVault's private blockchain securely records only the essential details of a wire transfer, such as the routing and account numbers. This selective recording method ensures a secure, tamper-proof record while maintaining privacy and minimizing the risk of fraud.

Start protecting your wire transfers: Create your free WireVault account today.

Enhancing Wire Security With Robust Identity Verification: WireVault’s Partnership with TrustStamp

WireVault’s new Identity Verification Feature, developed in partnership with TrustStamp, answers this call by adding a crucial layer of defense for sensitive wire transfers.

How email security vulnerabilities help criminals commit wire fraud

If a criminal’s goal is to intercept wiring instructions, they could do so with a very simple phishing email. Once they gain access, they observe that email box for months and collect intel such as who communicates with whom – and how.

Why blockchain is the best defense against payment fraud

Cyber criminals operate on the cutting edge of technology. So should businesses. When it comes to storing sensitive client data, that means utilizing blockchain technology.

Wire fraud quietly happens all around us. Here are a few costly examples

About 80% of U.S. companies say they have been hacked by opportunistic cybercriminals who don’t need to change their playbook because vulnerable processes remain the norm.

In the press: John Gavigan's latest startup challenge takes on finance fraud

“Of all the things I’ve done in my professional life, this is without a doubt the hardest,” Gavigan told The Buffalo News, “but it’s also the most rewarding.”

How WireVault works: A step-by-step guide

WireVault replaces vulnerable and error-prone common practices for sharing wire transfer details with a web platform that's as user-friendly as it is secure.

‘Night and day’: How WireVault is alleviating wire-transfer worries about one law firm

Rupp Pfalzgraf Controller Terry Kosmowski used to leave the office a bit anxious after a day’s work — particularly when that day involved any transferring of funds via wire.

How WireVault makes wire transfers easier — and more secure

Emailing and texting are so ingrained in our everyday life that we don’t think twice before sharing banking instructions like account and routing numbers.

From inspiration to solution: A simple safeguard against payment fraud

Dennis Vacco didn`t need any more food for thought. As he sat down for dinner with CrediVault CEO John Gavigan to discuss ways to use the blockchain technology ...