Bank Frick simplifies payments with VBAN service
Bank Frick is launching a virtual IBAN service that enables the automated allocation of payments: virtual IBANs (vIBANs) clearly link end clients with incoming payments. This offers several advantages, especially for companies with a digital focus.
The new VBAN service from Bank Frick speeds up booking processes, reduces manual bookings and thus increases the efficiency of transactions for clients. VBAN stands for Virtual Bank Account Number. Behind every VBAN there is a system-generated IBAN that is linked to the bank account with a real IBAN at Bank Frick. However, the crucial point is that the VBAN service, which is API-based, assigns the payment immediately and clearly to the correct end client or process.
Process efficiency, simple integration and cost certainty
This service with personal VBANs for end clients enables a smooth customer experience. The reduction in manual bookings saves time and resources, minimises sources of error and ensures rapid invoice reconciliation. The VBAN service can be integrated in just a few steps using the tried-and-tested Bank Frick APIs or tested in advance using sandbox access. With the usage-dependent basic fee, Bank Frick clients only pay if they actively use the feature.
“A key added value for companies with a digital focus”
Another advantage is scalability, as the model grows linearly with the transaction volume, which is ideal for exchanges and brokers. “With the new VBAN service, Bank Frick offers a contemporary, API-based solution for automated payment allocation – a key added value for companies with a digital focus,” says Nicolas Marxer, Head of Blockchain Banking Solutions.
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