Today, we are launching our new feature: the VAT Check!

With this, while performing an IBAN Name Check (API and portal), you also check whether the specified VAT number matches the company or trade name. The feature is a nice addition to the previously added features:

– Switch Check; get an instant notification if a customer or supplier has switched to another bank passing on the correct, new IBAN

– Account Age Check; get back as a result how long the account has been in existence to identify recently opened accounts with a higher risk of fraud.

– Cross Border Check; the IBAN Name Check on international bank accounts.

– Companies Check; this confirms the Chamber of Commerce number while performing an IBAN Name Check.

From now on, you check the validity of all the master data of your creditor that appears on an invoice.
In addition, you know whether the registered company and the bank account are the same – as part of your AML and KYS/KYC requirements.