Today, Utrecht-based fintech SurePay introduces the IBAN-Name Check Portal. Companies can use the Portal to quickly and efficiently check, 24 hours a day, whether they have the correct payment details of a customer, supplier or employee. In this way, SurePay helps detect fraud and prevent mistakes.
Checking the payment data of customers and suppliers can be labor-intensive. But it is also necessary. Errors in administration lead to incorrect payments to customers or suppliers, and possibly to fraud. That in turn leads to unnecessary costs, complaints and even reputational damage.
SurePay has provided the IBAN-Name Check to all major Dutch and English banks since 2017. The solution enables users to see whether the name they enter with the IBAN number matches the name known to the bank. In 2019 SurePay introduced the IBAN-Name Check for Companies. More than 215 companies and organisations have now integrated the solution into their systems.
The Portal, which is available from today, makes the IBAN-Name Check accessible to a much larger group: smaller and medium-sized organisations and companies for whom a full API integration takes too long to implement.
In the IBAN-Name Check Portal, organisations can check within seconds whether name and account number match, whether a new customer registers with a business or private account, whether an account has expired and whether the customer has switched to another account.
Additional features are also available, such as the Company ID check (Chamber of Commerce number and later also VAT number), making it even clearer whether the company is the correct account holder.
David-Jan Janse, CEO and co-founder of SurePay says: “The Portal makes the IBAN-Name Check available to companies of all sizes. KYC checks, payout and onboarding processes run more smoothly because companies can instantly check payment details. This reduces the risk of fraud and errors.”
SurePay makes payments more personal, convenient and secure.
SurePay was founded in 2016 and supplies the IBAN-Name Check to practically every Dutch bank. More than 200 companies, including insurance companies, pension funds and energy companies, also use the IBAN Name Check to mitigate fraud and errors in business processes, such as when onboarding new customers or suppliers.
SurePay has been supplying the IBAN-Name Check in the United Kingdom since 2020 and is now the market leader there. In addition, SurePay is active in several other European countries, including France and Italy.
In the Netherlands, SurePay is working on expanding its services by expanding the IBAN-Name Check with additional functionalities that help banks and companies to prevent errors and fraud.
Find out more here.