Access IBAN check Italian data source in Trustpair
IBAN check is one of many external sources integrated into the Trustpair platform. It provides our exclusive and automated account validation algorithm with extensive Italian vendor data. Thanks to this risk coverage, finance teams can process payment campaigns securely.
What is IBAN check?
IBAN check is a UniCredit Open Banking solution created in partnership with the CBI (Consorzio Bancario Italiano) consortium, which regroups 100 Italian banks. UniCredit, a leading European commercial bank with over 15 million customers worldwide, is the main instigator of IBAN check.
This collaborative effort underscores UniCredit and Trustpair commitment to delivering cutting-edge solutions for accurate and efficient vendor data verification in Italy. IBAN check, like the many other data sources available in Trustpair, is seamlessly integrated into theplatform.
Start protecting your company from payment fraud today!
Benefits of IBAN check Integration in Trustpair
Key features of IBAN check within Trustpair
Instant Validation for Italian Vendors
- Mitigate the risk of fraud with an unrivaled coverage rate in Italy
- Save time with instant validation of Italian vendors account for both natural and legal persons
- Validate large volumes of vendor data in batches
Continuous Vendor Data Monitoring
- Ensure that your supplier database is always accurate with continuous monitoring based on IBAN check data.
- Make informed decisions with user-friendly dashboards and reports
- Define real-time alerts and notifications based on information delivered by IBAN check
Automated Processes and improved team collaboration
- Leverage IBAN check data via SFTP, API, Web App, or native connectors.
- Set up automated continuous monitoring
- Adjust vendor status using a role-based workflow with comments and activity history
Benefit from GIACT network
Our customers leverage IBAN check
Discover how finance teams successfully manage vendor fraud risk by incorporating IBAN check into Trustpair’s innovative platform.
"Trustpair gives us more reliability and peace of mind. The financial director is more serene when it comes to approving the transfer order."
"With Trustpair’s verification methodology, it's no longer just a consistency check but an exact confirmation of the validity of the third party: there is no longer any risk."
"With Trustpair, we are able to automatically and quickly monitor our third parties and ensure the security of that very data over the long term."
“I would definitely recommend Trustpair to finance departments. It makes adding and modifying beneficiaries more reliable, without resorting to manual processes that are cumbersome, time-consuming and fallible.”
“The control process is simplified with the Trustpair solution, the Finance Department is reassured and, above all, it no longer needs to waste time performing manual checks to verify a supplier's bank details.”
"Trustpair adapts very well to the specifics of our market and our way of working. Several features are developed as we work together. That's a real plus."
"Trustpair has become more than a reflex; it has become an obligation. The team no longer validates an IBAN unless Trustpair has confirmed it to us."
Frequently asked questions
Trustpair is a leading fraud prevention platform. We help 200+ clients smoothen their processes and reduce fraud, for more peace of mind. We fight B2B payment fraud by automating account ownership checks worldwide, throughout your whole P2P process.
Our solution offers direct integration to your existing technical ecosystem (SAP connector, API, etc.) as well as intuitive dashboards and real-time warnings in case of fraud attempts.
UniCredit, a pan-European commercial bank comprising 13 banks, excels across 18 countries including Italy, Germany, Central, and Eastern Europe, with a strength of 81,000 employees. With over 15 million customers worldwide UniCredit offering includes corporate solutions—transactions, payments, customer risk management, specialized lending, advisory, and capital markets—alongside individual services like life insurance, protection, funds, portfolio management, brokerage, and asset custody.
The Consorzio Bancario Italiano (CBI) is an Italian banking consortium established in 1992 to promote cooperation and coordination among its member banks. The CBI aims to improve the efficiency and competitiveness of the Italian banking system, as well as to protect the interests of its member banks and their customers. The consortium is made up of 15 major Italian banks and 100 financial institutions and has a significant presence in the country’s financial sector.
B2B Payment fraud encompasses various tactics, each with the potential to cause significant financial losses. Some common types of B2B payment fraud include:
- CEO Scam: Fraudsters impersonate high-level executives to request urgent payments. They usually resort to intimidation and target individuals from the treasury department.Trustpair’s solutions help verify such requests and prevent unauthorized transactions by identifying any fraudulent account.
- Supplier Scam (Bank Detail Replacement): Criminals manipulate merchant bank details to divert payments to their accounts. Trustpair’s validation process ensures that bank account details match legitimate vendors.
- Fake Invoice: Fraudsters send bogus invoices to deceive businesses into making payments for services or products that were never provided. To stop fraud from occurring, Trustpair’s solution helps verify invoice authenticity.
- Email Hacking (Impersonation of Suppliers): Hackers gain control of supplier email accounts to send payment requests from seemingly legitimate sources. To safeguard businesses from this type of fraudulent activity, Trustpair’s real-time monitoring detects anomalies before payments are executed.
- Internal Frauds: Dishonest employees manipulate internal systems to facilitate unauthorized transactions. Fraud happens when they enter their own bank details instead of merchants’ details and receive transfers. Trustpair’s comprehensive approach helps prevent such insider threats.
Online-banking, instant money-transfer and the rise in electronic payment have all led to a significant increase in fraudulent transactions. There are several prevention measures you can set up to fight fraud:
- Implement regular awareness trainings to make sure your staff can easily identify fraud attempts. This shouldn’t concern only treasury teams but all employees.
- Set up internal control policies like the segregation of duties: domestic or international money transfers can’t be handled by only one person but tasks should be divided between employees. One can check account information like the Iban number or the swift codes, another can actually process the fund transfer.
- Use automation with an international account validation platform like Trustpair. You can process international wire transfers with peace of mind and have the confidence you’re transferring money to the right vendors.