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Virtual IBANs

Virtual IBAN Platform Development

We build virtual IBAN platforms by integrating with banking partners and building the software layer on top — account creation, payment matching, ledger management, multi-currency support, reconciliation, and admin tools. The IBAN issuance and fund holding are handled by the licensed banking partner.

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Who This Is For

Fintech startups and neobanks
Marketplace and platform operators
B2B payment platforms
Payroll and contractor payment tools
Cross-border payment companies
E-commerce platforms with global sellers
Treasury management platforms

What We Build

Virtual Account Creation

Create named virtual accounts (with IBANs or local account numbers) for each user or entity in your platform. Each account can receive payments independently.

Multi-Currency Balances

Support EUR, GBP, USD, and other currencies within a single platform. Each virtual account can hold separate currency balances.

Incoming Payment Matching

Automatically match incoming bank transfers to the correct virtual account using IBAN or reference matching. Eliminate manual reconciliation.

Ledger System

A double-entry ledger that records all credits, debits, and transfers. Provides a reliable balance view for each account and a complete transaction audit trail.

Bank Transfer Instructions

Generate and display bank transfer instructions (IBAN, BIC, reference) for users who want to receive funds into their virtual account.

User & Admin Dashboards

A user-facing balance and transaction view, and an admin dashboard for account management, reconciliation review, and compliance operations.

Webhooks & Notifications

Emit real-time events when payments are received, matched, or failed. Drive downstream workflows such as balance crediting, notifications, and payment processing.

Compliance Workflows

KYC/KYB for account holders, AML screening, transaction monitoring, and reporting tools — integrated with your chosen providers.

Reconciliation Tools

Automated reconciliation between incoming bank transfers and internal ledger entries. Exception handling for unmatched or partial payments.

Core Platform Features

1

Virtual account creation

2

Named accounts

3

Multi-currency balances

4

Incoming payment matching

5

Bank transfer instructions

6

Ledger entries

7

User dashboard

8

Admin dashboard

9

Reconciliation

10

Webhooks

11

Payment status tracking

12

Compliance workflows

Technical Architecture

01

Frontend

  • User account dashboard (balances, history, transfer instructions)
  • Admin account management interface
  • Reconciliation review UI
  • KYC onboarding flow
  • Payment request generator
02

Backend

  • Banking partner API integration
  • Virtual account provisioning
  • Incoming payment webhook processing
  • Payment matching engine
  • Ledger service
  • Reconciliation engine
03

Banking Partner Layer

  • BaaS or e-money provider API
  • IBAN provisioning per account
  • Payment notification webhooks
  • Balance synchronization
  • Payout initiation
04

Compliance

  • KYC / KYB onboarding
  • AML screening
  • Transaction monitoring
  • Jurisdiction access controls
  • Audit logs and reporting
05

Admin & Reporting

  • Account and user management
  • Payment and reconciliation dashboards
  • Compliance reporting tools
  • Exception queue management
  • Settlement monitoring

Compliance & Regulatory Note

Virtual IBAN issuance requires a licensed banking partner, payment institution, or e-money institution. Depending on your product structure and jurisdiction, you may also need regulatory authorization to offer payment accounts to your users. We build the software platform and integrate the banking partner; we do not provide banking, payment institution, or e-money services directly. Work with qualified legal and compliance partners to structure your product correctly.

Build Scope

MVP Scope

A focused first build that delivers core value.

  • 1
    Integration with a single banking partner
  • 2
    Virtual account creation per user
  • 3
    Incoming payment detection and matching
  • 4
    Basic ledger crediting
  • 5
    User balance view
  • 6
    Admin account management
Advanced Features

Capabilities to add once the core is live.

  • Multi-currency accounts
  • FX quote and conversion integration
  • Payout initiation (SEPA, SWIFT, Faster Payments)
  • Advanced reconciliation automation
  • Batch payment processing
  • Multi-banking partner support
  • Stablecoin wallet integration
  • Accounting exports

Why Work With Us

Web3 + Fintech Execution

Deep blockchain expertise combined with practical fintech and payment product knowledge.

Full-Stack Implementation

Frontend, backend, smart contracts, wallet integrations, and admin dashboards in one engagement.

On-chain + Off-chain Design

Systems that bridge blockchain and traditional infrastructure — crypto and fiat where needed.

Compliance Integrations

KYC/KYB, AML, and risk controls implemented to requirements agreed with your compliance team.

MVP Development

A scoped first release to test with users before expanding the platform.

Ongoing Support

Post-launch maintenance, scaling, feature development, and third-party integration updates.

Frequently Asked Questions

What is a virtual IBAN?
A virtual IBAN is a unique bank account number (IBAN format) assigned to a specific user or entity that routes incoming payments to a pooled bank account held by a financial institution. The platform's ledger allocates the funds to the correct virtual account. Virtual IBANs allow platforms to offer individual payment receiving capability without opening a separate bank account for each user.
Can you provide virtual IBANs directly?
No. Virtual IBAN issuance requires a banking partner, payment institution, or e-money institution with the ability to issue IBANs under their license. We build the software platform and integrate with the banking partner via their API. The financial institution provides the IBAN allocation and holds the funds.
Can you integrate with a banking partner?
Yes. We integrate with BaaS and banking API providers such as ClearBank, Modulr, Railsr, Currencycloud, and others depending on the markets and currencies you need. The right partner depends on your geography, supported payment rails, and commercial requirements.
Can virtual accounts support multiple currencies?
Yes. Most banking partners support multi-currency account structures. We build the ledger and UI to handle separate currency balances within a single user account, with FX quote integration if users need to convert between currencies.
How does reconciliation work?
Incoming payments arrive at the banking partner and trigger a webhook to our backend. The matching engine checks the payment amount, reference, and IBAN against open payment records to identify the correct virtual account and transaction. Matched payments are posted to the ledger; unmatched payments go to an exception queue for manual review.
Can this be combined with stablecoin wallets?
Yes. We build platforms that combine virtual IBANs for fiat payment collection with stablecoin wallet functionality for on-chain settlement. This is a common architecture for embedded finance and payment platforms that serve both fiat and crypto-native users.

Building a Virtual IBAN or Account Platform?

We integrate banking partners and build the complete platform around them. Let us scope the implementation for your product.

Book a Discovery CallGet a Technical Scope
Virtual Bank Account Platform →Multi-Currency Account Platform →Embedded Finance Platform →Virtual IBAN vs Virtual Bank Account →