Use case

Speed up your banking reconciliation

Memo Bank introduces an innovative solution to streamline your bank reconciliations: Virtual IBANs, a pioneering feature in the market. Picture a system where instead of relying on a single entry point (your account's IBAN) for all your clients and suppliers, each entity is assigned a unique gateway - a virtual IBAN. This meticulous dissociation ensures immediate identification of incoming and outgoing flows, rendering manual reconciliations obsolete. Reconciliation is straightforward, instantaneous, and 100% reliable—manual reconciliations belong to the past.

Track your payments and easily identify delays and defaults

No longer spend hours sorting through incoming payments. Bid farewell to laborious hours spent sorting incoming payments. With each client allocated a unique virtual IBAN, the source of every SEPA or Swift transfer entering your account is automatically discerned and matched with transactions in your management, billing, or accounting systems. Clarity on payers and timelines is assured.

Schéma illustrant le fonctionnement des IBAN virtuels sur des virements entrants

Steer reconciliation from your systems with our banking API

Memo Bank stands out as the sole banking institution in the French market empowering you to generate virtual IBANs via banking API. This flexibility allows dynamic assignment of virtual IBANs to clients and suppliers in accordance with your business protocols. Furthermore, you can develop applications seamlessly recognizing incoming and outgoing transactions through these distinctive identifiers.

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Craft a custom invoice collection framework aligned with your processes

Virtual IBANs enable you to effortlessly manage and reconcile transactions associated with diverse subsidiaries, stores, departments, or product lines on a singular bank account. Each entity is endowed with its own virtual bank account, facilitated by the allocation of virtual IBANs. This facilitates automated identification of associated payments across your systems.

Schéma illustrant le fonctionnement des IBAN virtuels sur des boutiques ou magasins

Simplify the management of outgoing payments

Similar to inbound transactions, virtual IBANs facilitate systematic categorization and tracking of outgoing payments. Simply assign a virtual IBAN to a supplier, initiate transfers from this designated virtual IBAN, or furnish your supplier with a direct debit mandate linked to this identifier. Moreover, you retain control by imposing limits on withdrawal amounts for each mandate.

Schéma illustrant le fonctionnement des IBAN virtuels sur des virements entrants

Align virtual IBANs with expense categories and specific VAT rates

Empower your teams to align expense categories with virtual IBANs, ranging from groceries to marketing expenditures. This rationalization minimizes the arduous task of categorizing transactions and streamlines the association of each transaction with relevant expense and revenue accounts. Additionally, you can tailor each virtual IBAN to specific VAT rates, enhancing fiscal management.

Illustration liée aux IBAN virtuels et à la TVA

Combat fraud and errors with enhanced monitoring

Virtual IBANs enable seamless linkage of bank transactions with records in your billing, management, or accounting systems. This fortified connection streamlines detection of discrepancies, ensuring swift identification of transactions deviating in amount from recorded figures or those absent from your systems.

Illustration de protection contre la fraude, sécurité

speaks louder than words.

And what if you tried it yourself?

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