Our latest insights

Virtual IBANs: What Are They and How Can They Benefit Your Business?

Share this post

Orenda Finance
Virtual IBANs: What Are They and How Can They Benefit Your Business?

Recent improvements in payment technology have led to breakthroughs in cross-border payments, where businesses can expand into new, international markets.

One of these breakthrough technologies is virtual IBANs, which are fast becoming an integral part of embedded finance. But what they are, and how they can benefit your business?

Virtual IBANs are a digital representation of a real-world bank account.

They’re used to send and receive payments from customers and clients and can be used in conjunction with other virtual accounts to make cross-border payments more efficient. 

This is an important part of embedded finance as it allows businesses to offer their customers a local banking experience, regardless of where they are in the world. 

The benefits:

  • Cost-effective 
  • Time-saving 
  • Improves security 
  • Enhances customer experience 
  • Expands your business’s reach
  • Keeps things simple

Speaking of keeping things simple, with no-code, low-code options available through Orenda’s embedded finance platform, businesses can now integrate virtual IBANs into their proposition with ease and without the usual associated costs and time scales of development.  

To learn more, read our full article about Virtual IBANs here.

Or find out more about how your business can benefit from virtual IBANs and other embedded financial services, get in touch.

More To Explore

Login or Register

Don't have an account?

Are you part of the Payments Association community?

Not yet set up your login for the Payments Association Community Platform? Set it up now

Set up a free account for instant access to our content

You don’t need to be an Payments Association member to view the majority of our content. Simply enter your details below once to set up your login details and get access to our library of whitepapers, podcasts, consultation papers, webinars and more.

First Name*
Last Name*
Company Name*
Job Title*
Username*
Business Email Address*
Password*
Confirm Password*
Agreement*
The Payments Association exist to help drive the industry forward. As such the Payments Association may contact you about any future content or events that we think you may have a legitimate interest in. We will store your information securely and will never share your details with third parties other than the relevant resource(s) sponsor(s)/curator(s). You may opt out at any time. By clicking register you are agreeing to the terms of our Privacy Policy.

← back