In a strategic move to combat fraud and ensure more secure cross-border payments, SEPAmail.eu and CBI have joined forces to offer an interoperable IBAN-Name Check solution.
This collaboration will help Payment Service Providers (PSPs) in both Italy and France comply with regulatory requirements, such as the upcoming Instant Payment Regulation, while enhancing the security of SEPA Credit Transfers (SCT) and Instant Payments (SCT Inst).
The IBAN Name Check – Verification of Payee (VoP) Service is designed to match IBAN codes with the names of beneficiaries before payments are processed.
This verification process is critical for reducing fraud, preventing payment errors, and ensuring that funds reach the intended recipients.
By offering this additional layer of security, the IBAN Name Check mitigates the risk of fraud and accidental misdirection of payments, which have become growing concerns in today’s digital payment landscape.
This partnership offers PSPs access to an interoperable verification solution, ensuring consistency and security across European payments.
The service will help PSPs comply with European standards while providing a reliable and unified method for verifying IBANs in cross-border transactions.
With the ability to reduce fraud and improve payment accuracy, the solution offers significant value to the broader European banking and fintech sectors.
Liliana Fratini Passi, Managing Director of CBI, emphasised the importance of the collaboration, stating: “In an increasingly digital and interconnected world, where cyber scams and frauds targeting citizens and businesses are on the rise, we remain committed to providing our customers with the tools they need to conduct transactions securely and efficiently.”
Meanwhile, Jacques Vanhautère, CEO of SEPAmail.eu, highlighted the service’s broader implications, noting that this partnership will ensure compliance with the Instant Payment Regulation as of October 2025, while offering European banks and fintechs a one-stop solution for secure, verified payments.
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