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Navigating AML obligations in the age of virtual IBANs

The Payments Association

Navigating AML obligations in the age of virtual IBANs February 10 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The compliance challenges of virtual IBANs, focusing on AML obligations and regulatory gaps. Why is it important? Previous slide Next slide What are vIBANs?

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Payment Gateway Paybyrd Chooses Mangopay to Optimize Payment Experiences for Merchants

Fintech Finance

Mangopay’s fully customisable embedded e-wallet and payout technology, combined with its industry-leading virtual IBAN and FX capabilities, will allow Paybyrd to streamline reconciliations and provide transparency and effectiveness throughout the payment process.

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Kraken Partners With Ivy to Offer Instant Bank Payments

Fintech Finance

All-in-One Solution: Instant Onramps, Collection Accounts, and Payouts Kraken will integrate Ivy’s product suite to offer streamlined payment solutions: Instant Bank Payments via SEPA Instant Collection Accounts with local IBANs to simplify reconciliation and compliance “Our mission is to make money move at internet speed.

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Finom enters Italy

Finextra

FINOM, a leading European digital banking solution for SMEs and entrepreneurs, today announced its entry into the Italian market with the local IBANs and integrated e-invoicing services with automated reconciliation.

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Banking Circle Debuts B2B Payments On Behalf Of Customers

PYMNTS

In addition, they can collect funds into Banking Circle's Virtual International Bank Account Number (IBAN) accounts in their customers' names. The IBAN is used for letting companies send and receive cross-border payments in real time.

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B2C embedded payments are a crowd favorite, but what does the B2B landscape look like in 2025?

Tearsheet

Virtual IBANs are gaining popularity as a solution, allowing automated bank transfer reconciliation and streamlining order processing by offering client-specific routing numbers.

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Ixaris, Banking Circle Streamline X-Border Travel Payments

PYMNTS

Virtual IBAN lets companies send and receive cross-border payments in real time at competitive rates, the companies said in their announcement. This improves payments acceptance, settlement times and reconciliation without the burden of multiple banking relationships, high fees and slow transfer times.”