Rabobank Identity Services - SurePay

Rabo Identity Services offers a SurePay API for businesses that want to perform IBAN Name Check combinations. The SurePay API verifies if the combination of the name and IBAN matches with the data of the bank and validates if the account is active. In addition, the SurePay API shows whether the account is registered as a business or private account and indicates how many account holders there are for this IBAN.

Integrating the SurePay API in your business process results in more efficiency and reduces the risk of errors or fraud. Your users experience an effortless onboarding and you can validate that you are interacting with the right person and/or organization. 

In addition to the IBAN and Name Check, the SurePay API also offers the following validation services:

• Company ID Check - The Company ID check validates if the chamber of commerce number matches with the Company ID known at the bank. This way you know if the registered company and bank account are the same. 
• VAT Check - The VAT Check validates whether the VAT number provided matches the company or trade name. This helps you check the validity of all basic/stem data of your creditor, which is now mandatory for an invoice.
• Switch Check - The Switch Check provides the new user IBAN when the user moves to a new bank. This helps you to update the account details of your customer.   
• Account Age Check -  Money mules and fraudsters are known to use newly opened bank accounts, which means recent opened accounts have a higher risk of being used in a fraudulent transaction. The Account Age Check shows the age of an account since the date of its opening. You can do additional checks to make sure no fraud can be conducted.
• Cross-border Check - The IBAN-Name Check on international accounts. This enables you to check that the account information entered matches the intended beneficiary when initiating cross-border payments.