Mitros improves processes by using IBAN-Name Check for Organisations
Client case Housing corporation
Housing corporation Mitros uses IBAN-Name Check for Organisations to check new and existing suppliers, so they always have the most recent (customer) data. This product is purchased via our partner Bluem.
Herman Verra, senior financial administrator at Mitros is very satisfied with the IBAN-Name Check: “Thanks to this solution we know for sure that we are paying the right person or organisation. It also prevents typos in names and gives Mitros a clean database. This ensures certainty within the organisation”.
An interim manager at Mitros was commissioned to carry out a number of improvement projects, including: how do we know that the beneficiary’s account number is correct? To check this and prevent fraud and errors, Mitros turned to SurePay’s IBAN-Name Check. Mitros was referred to Bluem, who carried out the implementation. Internally, it is now mandatory to perform a name and number check on current and new suppliers.
In addition to checking the name and account number, typing errors in names are also prevented. As a result, Mitros always has the correct details of its suppliers. Previously, the supplier details were not checked and it was not certain that the money went to the right account.
Up to date database
When Mitros started using the IBAN-Name Check, they immediately checked the entire creditor database. It happened that some suppliers had multiple account numbers behind their names. Mitros then checked the account number of the last invoice, which gave a match.
If there is a ‘no match’, the account number is not included in the accounts payable administration. The person responsible for the supplier in question contacts him and finds out what the correct account number is. This cleans up the database.
More certainty in the future
The IBAN-Name Check also contributes to Mitros’ internal control plan and accounts payable control. Old account numbers are blocked and it is possible to make a printout of all data via the dashboard. This is an internal proof for Mitros that their data is up to date and that fraud and errors are prevented.
For the future, the IBAN-Name Check during the onboarding of new tenants is another application that might be interesting. Herman says that Mitros gains a lot with this, and having the right data immediately is customer-friendly.
With the IBAN-Name Check, Mitros is more "in control," spending fewer hours on manual system adjustments and there is no delay in sending payments.
– Herman Verra, Senior financial administration Mitros
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