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Exposing and consuming the API that can validate the payee name,the challenge would that all the banks have to have the capability and be ready to expose the APIs and the format in which the data is stored. Is it impossible, no, but then the implementation in itself will take its time see the daylight. The other way probably would be blockchain where one bank can share/ trust the data with the other, again all the banks participating in this would be a challenge. All the banks participating in itself is a challenge to implement the validation