Banks

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Write the Future of account number portability...join us!

IBANP is looking for pioneers banks which want to get our service. Discover the exclusive advantages dedicated to your bank

If you're interested in having more informations

Contact

ONCE UPON A TIME THERE WAS A WORLD WITHOUT NUMBER PORTABILITY...

 

Many years ago people were not able to switch mobile operators since a Consortium of Telco moved on this direction, something that, when I will share it with my children, will look strange to hear.

Passed 20 years the TELCO sector innovation boost and many innovation arrived and are arriving.

The IBAN Portability Project (formerly named IBANP) intention is to permit to banks to make their client  switch to another bank without receiving a new account number, contributing to the migration of clients in other countries, Merging and Acquisitions and digitalisation of banking system. 

To achieve the ability for a customer to switch current account provider whilst still retaining the same unique account identifier the main issue until now is that an identifier is the part of a payment instruction that is used to locate a customer’s bank account and (currently) tipically comprises a 6-digit sort-code and 8-digit bank account number.

Adopting a Retain Identifier model will require a number of centrally-managed services (IBANP Solution) such as a repository for identifiers, a payments mandates database and a payments redirection database that are integrated with the existing payments infrastructure. The identifier repository will require active management to prevent the re-issue of account numbers.

The option provides ANP as the customer’s original sort-code and account number becomes their unique 14-digit identifier and may be used regardless of which bank they hold an account with.

The solution can be adopted from a pool of banks centralizing their Current Account

ecosystem bank_closed

Our way to solve these 3 challenges

The solution can be adopted from a pool of banks centralizing their Current Account to transform these principal problem in marketing opportunities.

Migration of Clients in other countries

Merging and Acquisition

Digitalized Services

migration-icon
merger-acquisition-ibanp
digital-bank

Many banks customers nowadays migrate in other countries for workingstudy or other reasons. The mobility rate of European workers is growing at a pace of 5% per yearThese clients have to face with the problems of opening a new bank account and to deal with a new IBAN code. IBAN Portability is the mean to keep those clients within your banking group. 

Banks  to reorganize and centralize their finances through Mergers and Acquisitions. This ideally would involve moving bank accounts and changing IBANs of thousands of customers. ​Those operations are very expensive and can last for a long period of time, involving the risk of losing information and due to the inconveniences for account holders in changing IBAN, involve very high losses of clients.

More and more banks around Europe are creating internal digital banks pursuing the high savings that digitization processes can bring.

Banks now have the issue to convince customers moving to those new branches of their businesses: one of the main barrier is represented by the IBAN change.

HOW IBANP WORKS

The Centralized Shared Platform is composed by the following parts:

  • Central Repository: imports data provided by the internal database of the bank
  • Central Redirection Database: controls the correctness of BIC code, for a given IBAN code, for every payment and redirects consequently every payment to the right bank.
  • Central Know Your Customer (KYC) Database: collects and shares information required by relevant regulations for all the banks accounts of the platform.
  • Ledger: registers and gives visibility above IBAN generation dates, lists of payments across several banks and BIC exchange dates for every client of the platform. The “Chain of Blocks” in the Ledger will be always composed by an “Initial” transaction of Account move from one Bank to Another, many transactions with all money transfer for that account and a “Closure” transaction at the end of the account life.

 

graficoV3-corretto
banner green
  1. Registration of the involved Banks in the shared banking platform, through a plug-in solution.
  2. The central repository of the platform will automatically import data provided by the internal database of the banks.
portability process

 

  1. Ask  the portability code to the old bank.
  2. The old bank will require to the platform the portability code of the client
  3. The old bank will communicate the portability code to the client
  4. The client will communicate the portability code to the new bank.
  5. The new bank will insert in the platform the portability code received by the client.
  6. The platform will notify the old bank. If this confirms, the central repository will update the BIC and the transaction will be registered in the ledger.
banner orange

 

  1. During the operations of Bank Transfers, the Central Payment System will ask the platform for the correctness of a given IBAN. The Central Redirection Database will control the correctness of BIC code
  2. Consequently, every payment will be redirect to the right bank. All the operations will be registered in the ledger.

ADVANTAGES

tabella-ibanp-advantages

TWO IBANP'S SOLUTIONS

BLOCKCHAIN

A.P.I.

chain
api-ibanp

Hyperledger Blockchain will guarantee that every transaction is transparent, immutable, indisputable and automated. The shared ledger allows participants to have a permissioned copy of the ledger through replication, so that participants see only their transactions. Cryptography is central to this process, in order to maintain the privacy and authentication of transactions. privacy and authentication of transaction.

For more conservative banks that may still have doubts on this new technology, we can offer a  platform enterely developed  with REST technology, called A.P.I.

 

Pitch for banks

I WANT YOU IN IBANP!

IwantU-slide18

CONTACT US

Contact our Analyst

 

Federica Cunego

email-ibanp
cel-ibanp-blue
skype-icon-blue

f.cunego@ibanportabilityproject.org

+39 393 8102274

f.cunego@ibanportabilityproject.org

1slideV5

Write the Future of account number portability...join us!

IBANP is looking for pioneers banks which want to get our service. Discover the exclusive advantages dedicated to your bank

If you're interested in having more informations

Contact

ONCE UPON A TIME THERE WAS A WORLD WITHOUT NUMBER PORTABILITY...

 

Many years ago people were not able to switch mobile operators since a Consortium of Telco moved on this direction, something that, when I will share it with my children, will look strange to hear.

Passed 20 years the TELCO sector innovation boost and many innovation arrived and are arriving.

The IBAN Portability Project (formerly named IBANP) intention is to permit to banks to make their client  switch to another bank without receiving a new account number, contributing to the migration of clients in other countries, Merging and Acquisitions and digitalisation of banking system. 

To achieve the ability for a customer to switch current account provider whilst still retaining the same unique account identifier the main issue until now is that an identifier is the part of a payment instruction that is used to locate a customer’s bank account and (currently) tipically comprises a 6-digit sort-code and 8-digit bank account number.

Adopting a Retain Identifier model will require a number of centrally-managed services (IBANP Solution) such as a repository for identifiers, a payments mandates database and a payments redirection database that are integrated with the existing payments infrastructure. The identifier repository will require active management to prevent the re-issue of account numbers.

The option provides ANP as the customer’s original sort-code and account number becomes their unique 14-digit identifier and may be used regardless of which bank they hold an account with.

The solution can be adopted from a pool of banks centralizing their Current Account

Our way to solve these 3 challenges

The solution can be adopted from a pool of banks centralizing their Current Account to transform these principal problem in marketing opportunities.

Migration of Clients in other counties

migration-icon

Many banks customers nowadays migrate in other countries for workingstudy or other reasons. The mobility rate of European workers is growing at a pace of 5% per yearThese clients have to face with the problems of opening a new bank account and to deal with a new IBAN code. IBAN Portability is the mean to keep those clients within your banking group. 

Merging and Acquisition

merger-acquisition-ibanp

Banks  to reorganize and centralize their finances through Mergers and Acquisitions. This ideally would involve moving bank accounts and changing IBANs of thousands of customers. ​Those operations are very expensive and can last for a long period of time, involving the risk of losing information and due to the inconveniences for account holders in changing IBAN, involve very high losses of clients.

Digitalized Services

digital-bank

More and more banks around Europe are creating internal digital banks pursuing the high savings that digitization processes can bring.

Banks now have the issue to convince customers moving to those new branches of their businesses: one of the main barrier is represented by the IBAN change.

HOW IBANP WORKS

The Centralized Shared Platform is composed by the following parts:

  • Central Repository: imports data provided by the internal database of the bank
  • Central Redirection Database: controls the correctness of BIC code, for a given IBAN code, for every payment and redirects consequently every payment to the right bank.
  • Central Know Your Customer (KYC) Database: collects and shares information required by relevant regulations for all the banks accounts of the platform.
  • Ledger: registers and gives visibility above IBAN generation dates, lists of payments across several banks and BIC exchange dates for every client of the platform. The “Chain of Blocks” in the Ledger will be always composed by an “Initial” transaction of Account move from one Bank to Another, many transactions with all money transfer for that account and a “Closure” transaction at the end of the account life.

 

graficoV3-corretto
banner green
  1. Registration of the involved Banks in the shared banking platform, through a plug-in solution.
  2. The central repository of the platform will automatically import data provided by the internal database of the banks.
portability process

 

  1. Ask  the portability code to the old bank.
  2. The old bank will require to the platform the portability code of the client
  3. The old bank will communicate the portability code to the client
  4. The client will communicate the portability code to the new bank.
  5. The new bank will insert in the platform the portability code received by the client.
  6. The platform will notify the old bank. If this confirms, the central repository will update the BIC and the transaction will be registered in the ledger.
banner orange

 

  1. During the operations of Bank Transfers, the Central Payment System will ask the platform for the correctness of a given IBAN. The Central Redirection Database will control the correctness of BIC code
  2. Consequently, every payment will be redirect to the right bank. All the operations will be registered in the ledger.

ADVANTAGES

tabella-ibanp-advantages

TWO IBANP'S SOLUTIONS

BLOCKCHAIN

chain

Hyperledger Blockchain will guarantee that every transaction is transparent, immutable, indisputable and automated. The shared ledger allows participants to have a permissioned copy of the ledger through replication, so that participants see only their transactions. Cryptography is central to this process, in order to maintain the privacy and authentication of transactions. privacy and authentication of transaction.

A.P.I.

api-ibanp

For more conservative banks that may still have doubts on this new technology, we can offer a  platform enterely developed  with REST technology, called A.P.I.

 

Pitch for banks

CONTACT US

Contact our Analyst

 

Federica Cunego

f.cunego@ibanportabilityproject.org

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