CM.com's IBAN Verification service enables businesses to confirm the validity and ownership of a customer's International Bank Account Number (IBAN through a straightforward €0.01 iDEAL transaction. This process ensures that the provided IBAN is active and accessible by the user, enhancing the accuracy and security of financial transactions. Key Features and Functionality: - Real-Time Verification: Upon successful completion of the iDEAL payment, businesses instantly receive the account holder's name and IBAN via the API, facilitating immediate validation. - User-Friendly Process: Leveraging iDEAL, the most widely used online payment method in the Netherlands, ensures a familiar and seamless experience for customers. - Compliance with EU Legislation: The service adheres to European laws and regulations, including GDPR, ensuring data protection and privacy. - Enhanced Conversion Rates: By verifying IBAN ownership, businesses can streamline online customer onboarding, reducing errors and improving user trust. Primary Value and Problem Solved: The IBAN Verification service addresses the critical need for accurate and secure bank account validation in financial transactions. By confirming that an IBAN is active and accessible by the user, businesses can prevent billing errors, reduce fraud, and ensure that financial agreements are linked to the correct individuals. This not only enhances operational efficiency but also builds customer confidence in the organization's financial processes.