Marc Lainez

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Making payments safer through Confiban

Through our multibanking solutions Isabel 6 and Ponto, Isabel Group has been focusing on the digitization and secure exchange of payments for years. With the new Confiban service, we want to help combat fraud by providing an even safer way of making B2B payments.

Much of the invoice fraud committed today is related to the manipulation of account numbers. Confiban executes an instant check to verify if a company and an IBAN belong together. By performing this check, a company can make sure the money ends up where it needs to. Confiban will show an alert if a user is about to pay a fake invoice.

The Confiban check is used when initiating a payment, or even sooner in a company’s payment process, for example when managing supplier or customer payment details. The service is offered via an API, so companies as well as business software providers can easily integrate it.

We believe that the future of business finance is embedded and frictionless. Companies that are in need of financial services expect them to be present in the tools and software they already use. This is the main driver behind our API (application programming interface) strategy.

Jean de Crane CEO Isabel Group
jean de crane 3b

The solution is available for companies as well as business software providers. Next to that, Isabel Group is working on offering the Confiban check through other embedded ways of working, such as a company’s spreadsheet software or any other tool of choice, allowing it to be used easily in existing business processes, without any disruption in their journey or the need to switch to other tools.

Confiban can currently check Belgian company IBANs and covers about 2,2M IBANs so far, while still growing and having implemented the necessary processes to keep IBAN information up to date.

Collaboration with Sis ID in France

Sis ID, a French company also active in fraud prevention, is using Confiban to check Belgian IBANs for their customers. A set of top clients of Sis ID on the enterprise segment already benefit from the integration of Confiban, with more customers to come in the next weeks.

 

Want to learn more about Confiban?  Visit confiban.be

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