Bectran Unveils Instant IRS TIN Verification
Partnership with Cobalt Delivers IRS-Powered Tax ID Checks to Drive Efficiency, Accuracy, and Fraud Prevention
From a Press Release Dated April 10, 2025, Schaumburg, Illinois
Bectran, an accounts receivable management technology provider, has launched a new integration with Cobalt to enable real-time IRS-based Tax Identification Number (TIN) verification directly within its platform. This integration allows businesses to instantly validate Federal Tax Identification Numbers (TINs), including Employer Identification Numbers (EINs), against official IRS records, streamlining the credit approval and account review process.
“Traditionally, verifying a Tax ID required manual lookups, or waiting on third-party systems that didn’t always return real-time data” said Louis Ifeguni, CEO of Bectran. “This new integration delivers instant, reliable verification at the source - directly from the IRS - helping our customers evaluate business risk with greater consistency and confidence.”
Key Features and Benefits:
Instant, Reliable Verification: The system provides immediate validation of TINs and legal business names directly from the IRS, eliminating the need for manual lookups or reliance on third-party systems that may not offer real-time data.
Enhanced Risk Accuracy and Fraud Prevention: By ensuring that both the TIN and legal business name exactly match IRS records, the integration reduces the risk of errors and fraud. Discrepancies between submitted and official records trigger real-time fraud alerts within the platform.
Improved Credit Review Efficiency: Credit managers receive comprehensive TIN reports, including IRS reason codes and explanations, directly through Bectran. This enables faster, more confident credit decisions without leaving their workflow.
Automated Risk Scoring: Verified TIN data is fed into Bectran’s risk scoring engine, further accelerating decision-making and minimizing uncertainty in the approval process.
Bectran’s platform is compatible with both SMEs and large global enterprises. The software streamlines credit processing, reduces defaults, and lowers collection costs. This new IRS-based verification capability marks a significant advancement in risk analysis and fraud detection for credit departments.