Comply with Instant Payments Regulation using SurePay's IBAN-Name Check API for Banks

Are you ready to meet the latest requirements of the Instant Payments regulation? Banks will be mandated to implement the IBAN-Name Check, and SurePay is here with the perfect solution. With years of experience in delivering advanced financial services and a proven track record in multiple EU countries, SurePay is the partner banks need.

Prevents fraud and mistakes with online credit transfers

The IBAN-Name Check verifies if the name entered in online banking matches with one of the names registered in the SurePay database. The check gives a notification if something deviates. This way you can check whether you are paying the right person or company. By doing so, it helps to prevent money getting lost due to fake invoices or misdirected payments.
Inventor
IBAN-Name Check
European solution Worldwide network
99,99% uptime
52ms respons time
Banking security standards

Truly Customer-Oriented Service

SurePay’s algorithm combines cutting-edge data science techniques with profound knowledge of payments to help prevent fraud and mistakes and at the same time offers an excellent customer experience. Our algorithm is trained to detect and interpret subtle differences between beneficiary details entered by the user and those officially registered at the bank. The service aims to significantly reduce the number of payments made in error, prevent fraudulent transfers and provide users with peace of mind when making a credit transfer online. Most importantly, the algorithm will not interfere with payments that are made in a correct manner, entered details are verified instantly, leaving the user experience unaffected.

SurePay's IBAN-Name Check is Future Proof

When developing the IBAN-Name Check, we have considered the payment sector’s greatest and most anticipated changes.

Safety is Paramount

The IBAN-Name Check verifies if the name entered in online banking matches with one of the names registered in the SurePay database. Names and account numbers are personal data that should be protected appropriately. SurePay has taken adequate measures to guarantee data protection.
The Service
IBAN-Name Check is developed following the Security by Design principle, including threat analysis and penetration testing. SurePay is compliant with ISO/IEC 27001:2017. An ISAE 3000 type II audit is performed annually in accordance with the ISO/IEC 27001:2017 framework.
Algorithm
The algorithm that is being used operates in a protected sandbox in order to prevent any impact from other processes on its performance.
Access Policy
Access to the API is protected by two-way TLS and IP-whitelisting. Every connected bank has its own API key.
Data Security
Data is being stored encrypted and transport is secured with TLS. Only the algorithm can access the data. The data is stored within the European Union.

The implementation

in your online banking environment

The IBAN-Name Check consists of an intelligent and robust algorithm that can be easily integrated into your bank’s online environment through an API. Your bank sends a request containing the name and account number the user of online banking has entered. The algorithm verifies these details against the data registered in the SurePay database and your bank will receive the matching results in the response. In case of a non-match, your banking application can show a warning message to the end user, upon which he can abort the payment, protecting him against mistakes and possible fraud. In order to ensure high quality of matching, it is necessary that the algorithm has access to the data registered at the bank of the payee. An important part of the implementation is to align on how SurePay can get access to the customer details of your bank and to other reliable data sources.

Frequently Asked
questions

Don’t worry, your account will be created soon. You will receive a confirmation email with your personal login information within 2 business days.

Confirming the email address is a mandatory step to complete registration for the portal. Each user receives a separate email from the system, with a link that is valid for 24 hours. Once the user clicks the link, the email address is confirmed and they can proceed to the next step.

Each user logs in via portal.surepay.com. Enter the organization’s name, email address, password and the one-time code provided by the MFA app. For a detailed explanation, watch our instructional video on the next page:
surepay.com/how-works-the-portal

Some Checks are performed on the main page. The user enters a name and an IBAN and clicks the ‘Check’ button. The results of the check then appear on the same page. For a detailed explanation, watch our instructional video on the next page:
surepay.com/how-works-the-portal

The File Check lets you do multiple IBAN Name Checks at once. The File Check feature is available to Business PRO customers and can be found in the top menu bar. Click the “File Check” button, you will be redirected to a new page. This is where you upload a file. A sample file is available on this page under the “Upload File” option and can be used for reference. The first three columns must be completed as shown in the sample file before uploading the file. Once the Check is complete, the Download File button appears. Click this button to download the verified file. The file then contains the matching results.
For a detailed explanation, watch our instructional video on the next page:
surepay.com/how-works-the-portal

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