[vc_row content_width=”grid” css_animation=”mkd-element-from-bottom”][vc_column width=”1/2″][/vc_column][vc_column width=”1/2″ el_class=”table-content”][mkd_section_title title_text=”On this page…” text_align=”left” text_size=”38″][vc_empty_space][vc_raw_html]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[/vc_raw_html][/vc_column][/vc_row][vc_row content_width=”grid”][vc_column][vc_empty_space height=”80px”][mkd_section_title title_text=”What” highlighted_text=”is it?” text_size=”38″ highlighted_color=”#eda507″][vc_row_inner][vc_column_inner width=”1/2″][vc_empty_space height=”40px”][vc_column_text css=””]FinologeeIBANTrust is designed for financial institutions and payment service providers subject to the new European regulation for instant credit transfers in euro* and the upcoming PSD3/PSR package, enabling them to implement IBAN name verification requirements in an European Payments Council (EPC) scheme rulebook compliant manner. The platform provides optional access to the SurePay Verification of Payee (VoP) API to validate IBAN names for banks and acts as a seamless integrator of the Swift Pre-Validation solution.

With this set-up, IBANTrust stands out for its rigorous IBAN accuracy checks and guarantees secure and fast transactions.

[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/2″][vc_empty_space height=”40px”][vc_column_text]Through its state-of-the-art API connector, FinologeeIBANTrust ensures that payers have the means to confirm the legitimacy of the payee’s payment details before proceeding with an instant credit transfer. By providing greater transparency and control over transactions, the IBAN-name check feature will contribute to a safer and trustworthy instant payment ecosystem for all stakeholders.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner content_width=”grid”][vc_column_inner][vc_empty_space height=”30px”][vc_column_text css=”.vc_custom_1741187270105{background-color: #fbf5df !important;}”]*Current Status

Regulation: The final act was published in the Official Journal on 19 March 2024. This means that the requirements for IBAN name checks will apply from October 2025.

PSD3/PSR package: Both proposals are currently under discussion between the Commission, the Parliament and the Council.

Scroll down for more information on the status of the legislation.

[/vc_column_text][vc_empty_space height=”30px”][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row content_width=”grid” content_aligment=”center” css_animation=”mkd-element-from-bottom” css=”.vc_custom_1699603995345{background-color: rgba(255,239,202,0.3) !important;*background-color: rgb(255,239,202) !important;}”][vc_column][vc_empty_space height=”40px”][mkd_section_title title_text=”What are” highlighted_text=”the features?” text_align=”left” highlighted_color=”#eda507″ text_size=”38″][vc_empty_space height=”40px”][vc_row_inner][vc_column_inner width=”1/4″][vc_column_text][mk_icon_txt color=”#eda507″ nbr=”1″ title=”End-to-end data verification based on the instructions provided by the PSU”][/vc_column_text][/vc_column_inner][vc_column_inner width=”1/4″][vc_column_text][mk_icon_txt color=”#eda507″ nbr=”2″ title=”Regulation compliant”][/vc_column_text][/vc_column_inner][vc_column_inner width=”1/4″][vc_column_text][mk_icon_txt color=”#eda507″ nbr=”3″ title=”Exposing & integrating payee’s information”][/vc_column_text][/vc_column_inner][vc_column_inner width=”1/4″][vc_column_text][mk_icon_txt color=”#eda507″ nbr=”4″ title=”Integration of reliable data source & comprehensive database”][/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=”1/4″][vc_column_text][mk_icon_txt color=”#eda507″ nbr=”5″ title=”High-end security”][/vc_column_text][/vc_column_inner][vc_column_inner width=”1/4″][vc_column_text][mk_icon_txt color=”#eda507″ nbr=”6″ title=”Full financial industry compliance”][/vc_column_text][/vc_column_inner][vc_column_inner width=”1/4″][vc_column_text][mk_icon_txt color=”#eda507″ nbr=”7″ title=”European compatibility”][/vc_column_text][/vc_column_inner][vc_column_inner width=”1/4″][vc_column_text][mk_icon_txt color=”#eda507″ nbr=”8″ title=”Modular architecture”][/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=”1/4″][/vc_column_inner][vc_column_inner width=”1/4″][/vc_column_inner][vc_column_inner width=”1/4″][/vc_column_inner][vc_column_inner width=”1/4″][/vc_column_inner][/vc_row_inner][vc_empty_space height=”30px”][/vc_column][/vc_row][vc_row content_width=”grid” el_id=”how-does-it-work”][vc_column][vc_empty_space height=”80px”][mkd_section_title title_text=”IBANTrust:” highlighted_text=”How does it work?” text_color=”#000000″ text_size=”38″ highlighted_color=”#eda507″][vc_empty_space height=”40px”][vc_single_image image=”32746″ img_size=”full” alignment=”center” onclick=”custom_link” img_link_target=”_blank” css=”” link=”https://finologee.com/wp-content/uploads/2024/04/Diagrams-IBANTRUST-20240422-CL-Diagram1.png”%5D%5Bvc_empty_space height=”30px”][/vc_column][/vc_row][vc_row content_width=”grid”][vc_column][vc_empty_space height=”80px”][mkd_section_title title_text=”What are” highlighted_text=”the components?” text_size=”38″ highlighted_color=”#eda507″][vc_empty_space height=”40px”][/vc_column][/vc_row][vc_row content_width=”grid” content_aligment=”center” css_animation=”mkd-element-from-bottom”][vc_column width=”1/3″ el_class=”left-icon-align”][mkd_elements_holder][mkd_elements_holder_item item_padding=”5% 0% 5% 0″ horizontal_aligment=”center” vertical_alignment=”top” item_padding_1280_1440=”15% 0 0 0″ item_padding_1024_1280=”19% 0 0 0″ item_padding_768_1024=”7% 0 12% 0″ item_padding_600_768=”0% 0 20% 0″][vc_column_text]

[mkd_highlight background_color=”” color=”#eda507″]01[/mkd_highlight]

[/vc_column_text][vc_column_text]

Bank connector:

[/vc_column_text][vc_column_text]Relying on Finologee’s APIs exposition towards Payer’s and Payee’s Banks, secure on-premise data transfer module or SFTP connection[/vc_column_text][/mkd_elements_holder_item][/mkd_elements_holder][/vc_column][vc_column width=”1/3″ el_class=”left-icon-align”][mkd_elements_holder][mkd_elements_holder_item item_padding=”5% 0% 5% 0″ horizontal_aligment=”center” vertical_alignment=”top” item_padding_1280_1440=”15% 0 0 0″ item_padding_1024_1280=”19% 0 0 0″ item_padding_768_1024=”7% 0 12% 0″ item_padding_600_768=”0% 0 20% 0″][vc_column_text]

[mkd_highlight background_color=”” color=”#eda507″]02[/mkd_highlight]

[/vc_column_text][vc_column_text]

Security management:

[/vc_column_text][vc_column_text]Fully hosted technical solution with a Luxembourg financial industry-regulated IT provider (“Support PFS” license)[/vc_column_text][/mkd_elements_holder_item][/mkd_elements_holder][/vc_column][vc_column width=”1/3″ el_class=”left-icon-align”][mkd_elements_holder][mkd_elements_holder_item item_padding=”5% 0% 5% 0″ horizontal_aligment=”center” vertical_alignment=”top” item_padding_1280_1440=”15% 0 0 0″ item_padding_1024_1280=”19% 0 0 0″ item_padding_768_1024=”7% 0 12% 0″ item_padding_600_768=”0% 0 20% 0″][vc_column_text]

[mkd_highlight background_color=”” color=”#eda507″]03[/mkd_highlight]

[/vc_column_text][vc_column_text]

Data management: 

[/vc_column_text][vc_column_text]Payee’s data collection at payer’s account-holding bank (provided by the payer) and matching against payees’ data at their bank[/vc_column_text][/mkd_elements_holder_item][/mkd_elements_holder][/vc_column][/vc_row][vc_row content_width=”grid” content_aligment=”center” css_animation=”mkd-element-from-bottom”][vc_column width=”1/3″ el_class=”left-icon-align”][mkd_elements_holder][mkd_elements_holder_item item_padding=”5% 0% 5% 0″ horizontal_aligment=”center” vertical_alignment=”top” item_padding_1280_1440=”15% 0 0 0″ item_padding_1024_1280=”19% 0 0 0″ item_padding_768_1024=”7% 0 12% 0″ item_padding_600_768=”0% 0 20% 0″][vc_column_text]

[mkd_highlight background_color=”” color=”#eda507″]04[/mkd_highlight]

[/vc_column_text][vc_column_text css=””]

Optional access to other services:

[/vc_column_text][vc_column_text css=””]For instance, Pre-Validation solution from Swift and SurePay’s IBAN-Name Check scheme[/vc_column_text][/mkd_elements_holder_item][/mkd_elements_holder][/vc_column][vc_column width=”1/3″ el_class=”left-icon-align”][mkd_elements_holder][mkd_elements_holder_item item_padding=”5% 0% 5% 0″ horizontal_aligment=”center” vertical_alignment=”top” item_padding_1280_1440=”15% 0 0 0″ item_padding_1024_1280=”19% 0 0 0″ item_padding_768_1024=”7% 0 12% 0″ item_padding_600_768=”0% 0 20% 0″][vc_column_text]

[mkd_highlight background_color=”” color=”#eda507″]05[/mkd_highlight]

[/vc_column_text][vc_column_text]

Ongoing integration with external database:

[/vc_column_text][vc_column_text]Integration with local schemes via Swift[/vc_column_text][/mkd_elements_holder_item][/mkd_elements_holder][/vc_column][vc_column width=”1/3″ el_class=”left-icon-align”][mkd_elements_holder][mkd_elements_holder_item item_padding=”5% 0% 5% 0″ horizontal_aligment=”center” vertical_alignment=”top” item_padding_1280_1440=”15% 0 0 0″ item_padding_1024_1280=”19% 0 0 0″ item_padding_768_1024=”7% 0 12% 0″ item_padding_600_768=”0% 0 20% 0″][vc_column_text]

[mkd_highlight background_color=”” color=”#eda507″]06[/mkd_highlight]

[/vc_column_text][vc_column_text]

Customisable rules engine:

[/vc_column_text][vc_column_text]Definition of specific validation rules based on business requirements, allowing for a tailored verification process[/vc_column_text][/mkd_elements_holder_item][/mkd_elements_holder][/vc_column][/vc_row][vc_row content_width=”grid” content_aligment=”center” css_animation=”mkd-element-from-bottom”][vc_column width=”1/3″ el_class=”left-icon-align”][mkd_elements_holder][mkd_elements_holder_item item_padding=”5% 0% 5% 0″ horizontal_aligment=”center” vertical_alignment=”top” item_padding_1280_1440=”15% 0 0 0″ item_padding_1024_1280=”19% 0 0 0″ item_padding_768_1024=”7% 0 12% 0″ item_padding_600_768=”0% 0 20% 0″][vc_column_text]

[mkd_highlight background_color=”” color=”#eda507″]07[/mkd_highlight]

[/vc_column_text][vc_column_text]

Scalability:

[/vc_column_text][vc_column_text]Product designed to handle a high volume of transactions, ensuring seamless operations[/vc_column_text][/mkd_elements_holder_item][/mkd_elements_holder][/vc_column][vc_column width=”1/3″ el_class=”left-icon-align”][mkd_elements_holder][mkd_elements_holder_item item_padding=”5% 0% 5% 0″ horizontal_aligment=”center” vertical_alignment=”top” item_padding_1280_1440=”15% 0 0 0″ item_padding_1024_1280=”19% 0 0 0″ item_padding_768_1024=”7% 0 12% 0″ item_padding_600_768=”0% 0 20% 0″][vc_column_text]

[mkd_highlight background_color=”” color=”#eda507″]08[/mkd_highlight]

[/vc_column_text][vc_column_text]

Continuous regulatory compliance updates:

[/vc_column_text][vc_column_text]Compliant with international banking standards and regulations, ensuring a trustworthy and secure payment process[/vc_column_text][/mkd_elements_holder_item][/mkd_elements_holder][/vc_column][/vc_row][vc_row content_width=”grid” css_animation=”mkd-element-from-bottom” el_id=”which-benefits-for-banks-and-psps”][vc_column][vc_empty_space height=”80px”][mkd_section_title title_text=”What future obligations” highlighted_text=”for PSPs?” highlighted_color=”#eda507″ text_size=”38″][vc_empty_space height=”10px”][vc_column_text css=””]PSPs need to comply with[/vc_column_text][vc_empty_space height=”40px”][vc_single_image image=”32744″ img_size=”large” alignment=”center” css=””][vc_empty_space height=”30px”][vc_empty_space height=”30px”][/vc_column][/vc_row][vc_row][vc_column width=”1/3″][vc_empty_space][/vc_column][vc_column width=”1/3″][mkd_button type=”solid” target=”_self” icon_pack=”” font_weight=”700″ text=”DOWNLOAD OUR PSP COMPLIANCE GUIDE” background_color=”#eda507″ border_color=”#eda507″ link=”https://finologee.com/wp-content/uploads/2024/07/Compliance-guide-for-PSPs.pdf” hover_border_color=”#000000″ font_size=”14″ margin=”10″][/vc_column][vc_column width=”1/3″][/vc_column][/vc_row][vc_row content_width=”grid” css_animation=”mkd-element-from-bottom” el_id=”peppol-module”][vc_column][vc_empty_space height=”80px”][mkd_section_title title_text=”Value” highlighted_text=”proposition” text_align=”left” text_size=”38″ highlighted_color=”#eda507″][vc_empty_space height=”40px”][vc_row_inner el_class=”grid grid-cols-1 md:grid-cols-2 lg:grid-cols-3 gap-10 align-items-start”][vc_column_inner][vc_column_text css=”.vc_custom_1713788526220{background-color: rgba(249,239,202,0.6) !important;*background-color: rgb(249,239,202) !important;}” el_class=”enpay-box enpay-box-border-0px enpay-box-rounded heading-blue”]

Sourcing best in-class components

Integration with subject experts’ matter guaranteeing a worldwide data coverage[/vc_column_text][vc_column_text css=”.vc_custom_1698941436293{background-color: rgba(249,239,202,0.6) !important;*background-color: rgb(208,230,250) !important;}” el_class=”enpay-box enpay-box-border-0px enpay-box-rounded heading-blue”]

Flexible integration with PSPs

(existing PSD2 API, proprietary API, custom integration)[/vc_column_text][vc_column_text css=”.vc_custom_1698941409517{background-color: rgba(249,239,202,0.6) !important;*background-color: rgb(208,230,250) !important;}” el_class=”enpay-box enpay-box-border-0px enpay-box-rounded heading-blue”]

Customisable rules engine

(definition if specific validation rules allowing a tailored verification process)[/vc_column_text][vc_column_text css=”.vc_custom_1698941383868{background-color: rgba(249,239,202,0.6) !important;*background-color: rgb(208,230,250) !important;}” el_class=”enpay-box enpay-box-border-0px enpay-box-rounded heading-blue”]

Full regulation compliance

(Instant Payments and upcoming PSD3/FIDA package)[/vc_column_text][vc_column_text css=”.vc_custom_1698941370075{background-color: rgba(249,239,202,0.6) !important;*background-color: rgb(209,230,250) !important;}” el_class=”enpay-box enpay-box-border-0px enpay-box-rounded heading-blue”]

High-end & compliant hosting and operations

(Luxembourg Support PFS hosted – ISO27001 certified)[/vc_column_text][vc_column_text css=”.vc_custom_1698941356699{background-color: rgba(249,239,202,0.6) !important;*background-color: rgb(208,230,250) !important;}” el_class=”enpay-box enpay-box-border-0px enpay-box-rounded heading-blue”]

Total neutrality

(No affiliation with any particular bank/group)[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_empty_space height=”30px”][/vc_column][/vc_row][vc_row content_width=”grid” el_class=”table-box-container” el_id=”our-offer-for-existing-clients”][vc_column][vc_empty_space height=”80px”][mkd_section_title title_text=”One-stop-shop offer” highlighted_text=”for existing clients” text_color=”#000000″ text_size=”38″ highlighted_color=”#eda507″][vc_column_text css=””]One framework agreement for our Bank compliance customers covering all products[/vc_column_text][vc_single_image image=”32585″ img_size=”large” alignment=”center” onclick=”custom_link” img_link_target=”_blank” css=”” link=”https://finologee.com/wp-content/uploads/2024/04/Diagrams-IBANTRUST-20240422-CL-06.png”%5D%5Bvc_empty_space height=”30px”][/vc_column][/vc_row][vc_row disable_element=”yes” content_width=”grid” css_animation=”mkd-element-from-bottom” css=”.vc_custom_1713359671038{background-color: #ffffff !important;}” el_id=”how-it-looks-on-screen”][vc_column][vc_empty_space height=”80px”][mkd_section_title title_text=”Use case -” highlighted_text=”How it could look on screen?” text_color=”#000000″ text_size=”38″ highlighted_color=”#eda507″][vc_empty_space height=”40px”][vc_column_text]

Please note that the interfaces below serve as an example to show how IBANTrust could be integrated in our platform LYNKS. Yet, all customers can integrate it into their websites and interfaces as they need. We provide flexibility for customisation according to respective preferences.

[/vc_column_text][vc_empty_space height=”30px”][mkd_section_title title_text=”IBANTrust:” highlighted_text=”Swift Preval” text_color=”#000000″ text_size=”20″ highlighted_color=”#eda507″][vc_empty_space height=”30px”][vc_row_inner el_class=”highlights-wrapper”][vc_column_inner width=”1/2″][vc_empty_space height=”20px”][vc_single_image image=”32462″ img_size=”large” alignment=”center” onclick=”img_link_large” img_link_target=”_blank”][vc_empty_space height=”15px”][vc_column_text]

Payee’s name and IBAN provided by the payer match

[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/2″][vc_empty_space height=”20px”][vc_single_image image=”32464″ img_size=”large” alignment=”center” onclick=”img_link_large” img_link_target=”_blank”][vc_empty_space height=”15px”][vc_column_text]

Account cannot receive payments

[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner el_class=”highlights-wrapper”][vc_column_inner][vc_empty_space height=”15px”][/vc_column_inner][/vc_row_inner][vc_row_inner el_class=”highlights-wrapper”][vc_column_inner width=”1/2″][vc_empty_space height=”20px”][vc_single_image image=”32465″ img_size=”large” alignment=”center” onclick=”img_link_large” img_link_target=”_blank”][vc_empty_space height=”15px”][vc_column_text]

Unknown account in Swift history

[/vc_column_text][/vc_column_inner][vc_column_inner width=”1/2″][vc_empty_space height=”20px”][vc_single_image image=”32466″ img_size=”large” alignment=”center” onclick=”img_link_large” img_link_target=”_blank” el_id=”finologeeauthenticator”][vc_empty_space height=”15px”][vc_column_text]

Payee’s name and IBAN check not available

[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_empty_space height=”30px”][/vc_column][/vc_row][vc_row content_width=”grid”][vc_column][vc_empty_space height=”80px”][mkd_section_title title_text=”Legislative status:” highlighted_text=”by when is it applicable?” highlighted_color=”#eda507″ text_size=”38″][vc_empty_space height=”40px”][/vc_column][/vc_row][vc_row content_width=”grid” css_animation=”mkd-element-from-bottom” el_class=”enpay-accordion”][vc_column][vc_row_inner el_class=”enpay-accordion-title”][vc_column_inner][vc_column_text css=””]

Instant payments: Applicable from October 2025

[/vc_column_text][mkd_icon icon_pack=”font_awesome” fa_icon=”fa-chevron-down” size=”mkd-icon-tiny” type=”normal” icon_animation=”” icon_color=”#434343″][/vc_column_inner][/vc_row_inner][vc_row_inner el_class=”enpay-accordion-content”][vc_column_inner][vc_empty_space height=”30px”][vc_column_text css=””]

The final act was published in the Official Journal on 19 March 2024 and entered into force in April 2024. Consequently, the requirements for IBAN name checks will apply from October 2025.

[/vc_column_text][vc_empty_space height=”15px”][vc_single_image image=”33925″ img_size=”large” alignment=”center” css=””][vc_empty_space height=”30px”][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_class=”table-box-container”][vc_column][vc_empty_space height=”10px”][/vc_column][/vc_row][vc_row content_width=”grid” css_animation=”mkd-element-from-bottom” el_class=”enpay-accordion”][vc_column][vc_row_inner el_class=”enpay-accordion-title”][vc_column_inner][vc_column_text]

PSD3/PSR: Current status of the legislative proposals

[/vc_column_text][mkd_icon icon_pack=”font_awesome” fa_icon=”fa-chevron-down” size=”mkd-icon-tiny” type=”normal” icon_animation=”” icon_color=”#434343″][/vc_column_inner][/vc_row_inner][vc_row_inner el_class=”enpay-accordion-content”][vc_column_inner][vc_empty_space height=”15px”][vc_column_text]

On 28 June 2023, the European Commission published its long-awaited payment services and financial data access package, aiming to ensure the EU’s financial sector is fit for purpose and capable of adapting to the ongoing digital transformation. The proposal involves amending and modernising the current Payment Services Directive (PSD2), which will become PSD3, and establishing, in addition, a Payment Services Regulation (PSR).

Both the PSD3 and the PSR will enter the ordinary legislative procedure, where the European Parliament and Council will have to adopt their respective positions before entering in trilogue negotiations to finalise the texts. The transposition deadline for Member States and the start of the application period is 18 months after entry into force.

Finally, the proposal contains a review clause that provides for an assessment of the scope of PSD3 and the possible extension to payment systems and technical services five years after the transposition of the directive.

[/vc_column_text][vc_empty_space height=”15px”][vc_single_image image=”31166″ img_size=”large” alignment=”center”][vc_empty_space height=”15px”][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row css_animation=”mkd-element-from-bottom” el_id=”get-in-touch-wrapper”][vc_column][vc_empty_space height=”100px”][mkd_call_to_action full_width=”yes” content_in_grid=”yes” grid_size=”75″ type=”normal” show_button=”yes” button_target=”_self” button_icon_pack=”” button_text=”GET IN TOUCH” button_link=”https://finologee.com/contact” box_padding=”80px 20px 80px 20px”]

Do you want to know what we could build together or get a product demo?

Get in touch and we will evaluate how we may help you.[/mkd_call_to_action][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space][/vc_column][/vc_row]