Certified supplier IBAN verification
Companies manage supplier IBAN creation and update requests on a daily basis through emails, attached documents, and often unstructured communications.
In recent years, the number of fraud attempts based on the credible impersonation of supplier communications has grown significantly. Through seemingly authentic emails, fraudsters request changes to bank details, leading to payments being executed toward fraudulent accounts.
The issue is not limited to cybersecurity alone, but rather to the lack of a structured, verifiable, and integrated process within corporate administrative systems.
How can organizations ensure that the IBAN being entered or modified actually belongs to the correct supplier?
TENet enables organizations to digitize, orchestrate, and certify the entire supplier IBAN management process by introducing automated checks, approval workflows, and full operational traceability.
The platform validates in real time the consistency between the supplier’s VAT number and the communicated IBAN, also through integration with ERP systems and supplier portals, while recording evidence on blockchain to ensure full traceability and auditability.
The system allows you to:
Real-time IBAN ↔ VAT number verification
Blockchain certification of operations
Centralized monitoring and governance
Applications
Supplier onboarding
Validation and certification of bank details during the supplier onboarding process.
Supplier IBAN change
Secure management of bank detail change requests, reducing the risk of fraud and impersonation.
Integration into administrative processes
Enablement of automated checks directly within ERP and finance workflows.
Compliance and audit
Immediate availability of verification history, approvals, and process evidence.
Advantages
Fraud risk reduction
Protection against fraudulent IBANs and unauthorized change requests.
Existing systems integration
No need to create parallel processes or separate tools.
Compliance by-design
Certified, auditable, and verifiable processes over time.
Operational efficiency
Reduction of manual checks and standardization of administrative activities.
Supplier experience
Improved supplier user experience.