Mashreq Bank has launched an International Bank Account Number (IBAN) Validation Application Programming Interface (API) aimed at enhancing banking experiences for corporate clients. This development is designed to reduce errors and mitigate fraud risks by ensuring accurate verification of IBANs before processing transactions.
The IBAN Validation API is a significant step for Mashreq, particularly as it integrates with the Central Bank of the UAE’s payment infrastructure. By leveraging this API, Mashreq aims to provide a seamless banking experience, enabling businesses to process payments with greater confidence and efficiency.
This initiative aligns with the UAE’s broader financial sector’s digital transformation, as it continues to adopt innovative technologies to improve financial services and customer satisfaction.
