Why and how do you perform bank account verification?

Bank account verification is a regulatory requirement for verifying the account is held by the individual or company who has signed up for a fena account, and to avoid fraudulent sign-ups. This is done by the user uploading a bank statement dated within the last 3 month that is held in the name of the company (for registered companies) or the individual/sole trader - this account is then compared against the details used to sign-up.