Starting today, ABN AMRO offers business clients the option of performing IBAN-Name Checks themselves, using an API.
Checking client data is a laborious and time-consuming process for many companies. By integrating the IBAN-Name Check API, they can make their business processes more efficient and minimise the chance of errors and fraud. An (additional) name-number check is useful when transferring large sums, but also when entering new clients into the system.
The IBAN-Name Check API is the seventh API ABN AMRO has made available for its business clients. With previously released APIs, businesses could gain real-time insight into their bank accounts, receive notifications of payments, initiate payments themselves, send payment requests, and hedge currency risks. Each entrepreneur decides for themselves how and when to integrate an API in their business process.
Businesses gaining more control over how they organise their banking affairs
An API (Application Programming Interface) makes it possible for two applications to communicate with each other. By working with APIs, business clients design their own customised way of banking that fits in with their business processes, clients and financial administration.
Patrick Pfaff, CEO of Commercial Banking: "APIs are already seeing very common use in other sectors. The expectation is that in the coming years business clients will start using more and more customised banking solutions. Of course, we'll continue to offer the traditional banking possibilities as well, using apps and the internet. This way, companies ranging from small SMEs to multinationals can choose which way of banking best suits their way of working."
The IBAN-Name Check API is offered through a partnership with SurePay, a company that offers this functionality to the market. For ABN AMRO it is the first API that is being offered in collaboration with a partner. In other areas, the bank already works closely with external partners to offer clients extra services.