PRODUCT UPDATES
Diesta brings Kinexys by J.P. Morgan’s Payee Verification to insurance payments
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5 min read
Intro
Diesta, the payment infrastructure platform for the commercial insurance industry, today announced it has integrated Kinexys by J.P. Morgan’s Kinexys Liink Confirm application, bringing global account and payee verification directly into insurance payment workflows.
The integration enables Diesta to help brokers, Managing General Agents (MGAs) and insurance companies verify beneficiary account details before payments are initiated, supporting safer, more efficient digital settlement in one of the most complex and highly regulated financial services industries.
Main
Commercial insurance payments often involve various parties operating across multiple currencies, jurisdictions and banking systems. These flows are high value and regulated yet often still dependent on manual checks, spreadsheets and fragmented financial processes.
As instant and cross-border payments continue to grow, the ability to verify account information before money moves is becoming increasingly important. Incorrect account details, misdirected funds and fraud attempts can create significant operational, financial and regulatory risk for insurance businesses.
By integrating Kinexys Liink’s Confirm application, Diesta will bring account and payee verification into the insurance payment process itself. Insurance finance teams can validate beneficiary information upfront, helping reduce payment risk, improve operational control and support greater automation without replacing their existing core insurance systems.
Diesta is the first fintech in Europe, the Middle East and Africa to embed this level of payee verification directly into insurance finance workflows, where payment decisions, approvals and settlements happen. By moving account verification into the operational layer, insurance teams can validate beneficiary details at the point of action and before funds are released. This is a significant step forward in digitising insurance payment infrastructure.
Kinexys Liink is one of the world’s first bank-led peer-to-peer blockchain-based data sharing networks for secure information exchange able to validate account ownership and other data elements in 70+ countries[1]. Designed to be payment rail-agnostic, it enables institutions to share payee verification requests and responses through one network connection while supporting data control and privacy considerations for participating institutions.
The integration supports Diesta's ambition to build the payment infrastructure layer for insurance: a platform where complex premium and settlement flows can be managed digitally from receipt through reconciliation, accounting and onward payment.
[1] JPMC proprietary data 2024
Quotes
“Insurance payments are among the most complex B2B payment flows in financial services. Money can move across multiple parties, countries and currencies before it reaches the final recipient, and every handoff creates operational risk. By integrating Kinexys Liink’ Confirm application into Diesta, we are bringing account and payee verification directly into the insurance payment workflow. This marks an important step for the insurance industry as it moves towards settlement processes that are more digital, secure and scalable. ”
Julian Schoemig, CEO of Diesta
“By integrating Kinexys Liink’s Confirm application directly into Diesta’s insurance payment flows, we’re making it easier for institutions to improve control and reduce payment fraud throughout the insurance lifecycle. Together, we’re supporting institutions as they adapt to a rapidly changing landscape and build greater trust in every transaction.”
Gloria Wan, Global Head of Networks, Kinexys by J.P. Morgan
Case Study
Diesta is already live with Kinexys Liink’s Confirm application, running checks through its production system for insurance payment workflows.
In the first days of go-live, Diesta supported a global enterprise broker by cross-referencing several thousand payee accounts across multiple countries, currencies and account formats. The exercise helped the broker clean up an outdated payee database, reduce manual validation work and avoid going back to key partners to request the same account information again.
For insurance finance teams, this is a critical control point. Payee data often sits across various systems, spreadsheets and regional teams, while payments are made across multiple jurisdictions, banking formats and currencies. Without automated verification, teams are left to manually validate account details over the phone or rely on information that may be incomplete, outdated or duplicated.
By embedding payee verification into the insurance finance workflow with Kinexys Liink’s Confirm application, Diesta helps finance teams validate account details before funds are released. This can increase confidence in payment execution, help reduce the risk of misdirected payments and create a cleaner, more controlled payment process.
The service is now live and available to insurers, brokers, MGAs and other insurance market participants that want to validate their payee accounts on a standalone basis. With only a short implementation effort, insurance finance teams can clean up large account databases, save hundreds of hours of manual work and improve payment security before money moves.
About
Diesta is building agent payment infrastructure for insurance. It connects banks, policy systems, and third-party data sources into one AI-powered operating layer for receivables, accounting and payables. With Diesta insurers, brokers and MGAs can reimagine how money moves through the industry with greater control and less manual work. See more info under www.diesta.co.uk or reach out at hello@diesta.co.uk.
