The IBAN-Name Check is a service that checks whether the name and the IBAN number match, allowing insurers to check bank details before they pay out a claim for damages. The service has been developed by SurePay, a corporate startup of Rabobank. The system provides a notification when the IBAN and name do not match the details of the bank or if a bank account has been cancelled.
FRISS, the worldwide provider of fraud and risk solutions for the P&C insurance industry, has developed a platform, which provides risk scores for each incoming policy application or claim. The platform is now being used by insurance companies around the world. Via the software platform of FRISS, insurers can add the IBAN-Name Check as an extra verification step.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now