" class="no-js "lang="en-US"> CBI partners with SurePay to Check IBAN with VAT number of customers
Monday, January 30, 2023
Saltedge Report

CBI partners with SurePay to Check IBAN with VAT number of customers to Italian and European Market, including the UK

SurePay, the leading Confirmation of Payee (CoP) provider, and CBI S.c.p.a.an Italian company that develops digital services – including open finance services – for the financial industry and the Public Administration through a collaborative method, have signed a partnership. This enables Payment Service Providers to use the Check IBAN service to check gradually on Italian, Dutch and Europeanaccount holders, including the UK.

SurePays Confirmation of Payee service ensures that payments are not being accidentally or deliberately misdirected. CBI has developed CBI Globe, a RegTech platform that helps its members meet the PSD2 regulations and Open Finance opportunities. Over 80% of the Italian financial services industry has adopted CBI Globe’s modular and flexible solution that ensures connection to European Fintechs and Banks, developing new open finance value added services.

By partnering with SurePay, CBI offers a real time verification and security service to check on both Italian and gradually European customers, including the UK, thereby expanding CBI’s customer service. The Check IBAN Service not only minimises the risk of fraud, through instant verification of association of IBAN number to VAT code, but also enables smarter, safer payment services and smooth customer onboarding experience. Both parties see this as a first step towards further collaborations.      

David-Jan Janse, CEO and Co-Founder of SurePay, commented: “At SurePay, we’re committed to continue our path towards a pan-European solution in the fight against fraud. Through our partnership with CBI, we’re connecting our innovative IBAN-Name Check service to the Italian market, making international payments safer and more secure in this increasingly digitised and vulnerable ecosystem. We look forward to the continuation of our mission alongside CBI, to connect our technology to financial institutions across Europe.”

Liliana Fratini Passi, Managing Director of CBI, added: “Through the CBI Globe ecosystem we are developing innovative Open Finance services for our customers and contributing to the digital boost, not only in Italy. Thanks to the partnership with SurePay and their best-in-class solution to provide secure payments, CBI is now able to support banks and fintechs by offering the Check IBAN service to customers outside of Italy, starting from the Netherlands, Belgium and Germany. The Check IBAN service will then be gradually extended to other European countries, including France and the United Kingdom. This partnership is the first step for future joint innovative cross-border services developments.”.

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