Prevent fraud proactively with the IBAN-Name Check for Businesses

To securely and flawlessly process refunds via the website, the Chamber of
Commerce (KVK) uses the IBAN-Name Check for Businesses via Bluem. With this check, KVK verifies before payment that the provided account number actually matches the (legal) name of the applicant. This prevents refunds from ending up in fraudulent or incorrect accounts and ensures the legality of payments is visibly secured.

Improved Process

KVK operates through the Bluem dashboard and utilizes CSV bulk uploads. Employees periodically export a CSV with refund requests from the website, upload it into the dashboard, and execute the IBAN-Name Check all at once. In cases of clear matches, Finance can process the refund immediately. If the name-IBAN combination deviates, a standardized step follows: the file is put on hold and additional verification is requested from the applicant. This approach reduces the risk of mispayment and keeps the
processing time predictable.

Data Cleanup

The results of the check also help KVK keep customer data up to date. Besides the name-IBAN match, the check provides insights into whether an account is active, whether it is business or personal, and if there are multiple account holders. Discrepancies are recorded and corrected, enabling future refunds to be executed faster and with less remediation work.

Easy to Use

The implementation went smoothly: teams could start using the
dashboard immediately without an IT project. Large CSV files are processed all at once and in the end, there is a clear report with all checks performed, including date, time, and result. This report is added to the internal workflow, strengthening the audit trail and simplifying internal coordination.

Result

By structurally applying the IBAN-Name Check before every refund, KVK ensures that
money is refunded to the correct account holder. The process is transparent and verifiable, with less risk of fraud or errors, higher data quality, and more efficient handling of refunds, perfectly fitting KVK's public responsibility.