UniCredit and Trustpair, the leading platform to prevent B2B payments fraud, have today announced a partnership that will see the latter enrich its digital platform by offering IBAN Check, a UniCredit solution related to Open Banking developed in conjunction with CBI S.c.p.a..
Thanks to IBAN Check, Trustpair's clients will be able to check in real-time the correct association between the IBAN and Fiscal / VAT Code of Italian beneficiaries.
This level of control adds security and efficiency to onboarding and payment operations, ensuring that valid information is always supplied, in a workable format with company processes - thereby minimizing inefficient manual interventions and the risk of fraud.
IBAN Check is one of the first in an ecosystem of value-added services based on API technology which UniCredit is pivoting towards the context of its Group digitalisation strategy.
Raphael Barisaac, UniCredit's Global Head of Payments & Cash Management, commented: "One of the strands of our digital strategy is to improve the client experience through simplification and a laser focus on customer needs. Payment solutions will be paramount for us moving forward, with API connectivity and Open Banking are key areas where we will continue to invest. Our partnership with Trustpair around IBAN Check underlines this approach - we look forward to a fruitful collaboration".
Baptiste Collot, CEO, Trustpair, added: "Trustpair helps companies manage vendor data properly and avoid fraud risk at scale, which is important considering a single company can have thousands of local and international vendors. We're happy to launch this partnership with UniCredit, a leading pan-European bank, whose unrivalled roots in Italy will provide strategic geographical coverage for many of our customers".
Milan / Paris, 12 July 2023
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