IBANi

IBANi is a fictional financial technology platform designed to illustrate how international bank account numbers (IBANs) can be issued and managed for individuals and businesses. It provides a centralized service for generating, validating, and mapping IBANs to underlying bank accounts, enabling cross-border payments and simplified account management.

The platform offers core services such as generating unique IBANs, linking them to customer accounts, supporting multiple currencies, initiating payments, and receiving funds. It typically provides application programming interfaces (APIs) for merchant integrations, batch payments, direct debits, and payroll disbursements, along with tools for reconciliation and invoicing.

It adheres to the ISO 13616 IBAN standard for structure and checksum validation and interoperates with major payment networks such as SEPA in Europe and SWIFT for global transfers. It may offer routing and beneficiary validation to minimize errors in transfers.

For security and compliance, an IBANi-like system would implement strong customer authentication, encryption in transit and at rest, tokenization of sensitive data, and AML/KYC compliance. In regulated markets, it would require appropriate licenses or partnerships with licensed banks or payment institutions, and data protection under applicable laws.

In discussions of cross-border finance, IBANi serves as a conceptual example of how fintechs can streamline IBAN management, reduce payment friction, and support SMEs with international operations. See also: IBAN, SEPA, SWIFT, PSD2, KYC.