CHECK IBAN

In the area of Open Finance and Data Monetization, CBI has developed several Value-Added Services (VAS) to improve the competitiveness of its customers and allow intermediaries, fintech companies and players in other industries to implement innovative API-based services through the CBI Globe ecosystem. 

Among these functionalities the Check IBAN Service makes it possible to ensure that the IBAN code is correctly associated with a Tax ID/VAT number (natural person or legal entity).

The Check IBAN service is available to all interested PSPs that wish to offer the service directly to their Corporate and Retail customers. Therefore, PSPs can expand their range of services offered, taking advantage of the CBI Globe ecosystem to centralise numerous common functions and simplify their implementation.

Through their reference PSPs, the service will thus allow Retail and Corporate customers to immediately verify whether a given IBAN code is associated with a specific Tax ID/VAT number, speeding up administrative processes and drastically reducing time and costs.

PagoPA S.p.A. is the first to use the service to securely distribute financial bonuses in response to the crisis caused by the COVID-19 pandemic.

The Check IBAN service is provided through PagoPA S.p.A. and is directly connected to CBI Globe via APIs. Thanks to this service, Public Administrations and Government entities can in real time verify the association between the IBAN code and the Tax ID or VAT number provided by an applicant (person or company) to receive a tax/financial bonus, and then proceed with crediting the payment if the aforesaid data correspond.

The document, which can be downloaded below, lists the PSPs active on the private “Check IBAN” service in the role of “PSP calling”, a technological intermediary of information flows and/ or “PSP Responding” concerned by the calling subject for the execution of the Iban Checks expected by the service.