Reduction in fraud and fake orders at STRATO

SurePay introduced the IBAN-Name Check in 2017 to make online payments safer and more personal. After its successful implementation at the banks, the solution also proved to be of great value to companies. The IBAN-Name Check for organisations can be used at various points in the business process.

STRATO

STRATO is a web hosting service with headquarters in Berlin. STRATO has been offering hosting services and cloud storage to customers in the Netherlands since 2006. STRATO focuses on start-ups that want to create their own website easily and cheaply. In Europe, STRATO serves more than 2 million customers.

Fraudulent orders

STRATO was looking for a solution to combat fraud and mistakes in the on-boarding of new customers. The company had its hands full with the administration of orders that were incomplete or incorrect.
Following some research, Daniël de Swart became aware of SurePay's services. After an introductory meeting, he discovered that the IBAN-Name Check could solve a well-known problem for hosting parties, namely fraudulent or even rogue orders.
This kind of order connects an applicant with false bank and/or name and address details. Often the invoice for such orders cannot be collected or is collected from the wrong person or organization. The order must then be blocked and canceled. Several departments within STRATO are involved in the processing of these orders. That process is labor-intensive and expensive
The social damage, however, can be many times greater as fraudulent orders are often used to keep websites with a criminal intent, such as phishing websites, up and running.

IBAN-Name Check

STRATO has integrated the IBAN-Name Check into the ordering process by means of an API link. If the combination of name and IBAN is correct, the customer will not notice anything and is immediately connected. In cases where an abnormality is detected, a check is carried out. When fraud is suspected, an applicant is not accepted.