FIDA: supervising the open finance with confidence

The IBAN, or International Bank Account Number, has become a central element in financial transactions, particularly in the context of SEPA transfers. Its role: to precisely identify a bank account in the international network. However, this identifier, however structured, can become a gateway for fraud.
According to the annual report of the Observatory for the Security of Payment Methods (OSMP), published in September 2024, bank transfer fraud represented €312 million in 2023. Nearly half of this fraud (48%) is "fake IBAN scams," whether involving bank account substitutions during exchanges, manipulation of intermediaries, or even online diversions. The scope of vulnerabilities is vast.
In this context, securing payments inevitably requires the systematic verification of IBANs before their use. Manual verification, while possible, is often a source of errors, tedious, and ineffective on a large scale. This need for reliability and automation explains why IBAN verification is now an essential building block of a secure payment system.

At Meelo, we pride ourselves on constantly innovating to offer you ever more powerful solutions. To meet the growing need for security and fluidity in user identification, we are pleased to introduce Mobile ID, a key component integrated into our Identity Trust Score for Individuals.
Mobile ID allows you to verify identity information more efficiently by relying on data provided by telephone operators. This new identity verification solution optimizes the accuracy of our scores and helps you better protect your business against fraud attempts.