What is it about?
Many years ago, people were unable to change cell phone operators until a Telco consortium moved in that direction. After 20 years, the Telco sector has grown exponentially and new innovations are born day after day.
Today, when a customer decides to change bank, he must inform all the people and businesses that regularly send bank transfers or credit to the account. The intention of the IBAN Portability Project (formerly IBANP) is to allow banks to offer their clients the transfer to another bank without receiving a new account number, contributing to the migration of customers in other countries, to Merging and Acquisition and the digitalization of the banking system.
Several trends in the banking sector are pushing towards innovation like IBANP:
• Increasing flexibility and labor mobility by pushing towards a more liberalized banking sector for account holders;
• The general reorganization of the sector forces banks to move thousands and thousands of customers' bank accounts: this is not only very expensive but also involves the loss of a significant share of customers;
• The recent financial crisis has led to greater demand for transparency;
• The next EU legislation could require an ANP system to liberalize the banking sector;
• Exponential growth in the number of digital banks.
IBANP meets all these needs with its specific and innovative features through a solution providing the so-called "number portability", thus allowing the gradual liberalization of the banking system. At first, IBANP will propose to banks the opportunity to join the consortium through the CLOSED solution (ie within a group of bank branches or FINTECH branches). This solution will allow affiliates to share IBANP services with a specific group of banks that are part of their consortium / group. Our long-term goal is to propose an OPEN solution that will allow affiliates to share the service at European level with all other banks that choose open mode (to date not yet possible). The OPEN mode of IBANP has the ambition to be the operational solution for ANPs at European level once this could become mandatory with the approval of the payment account directive II (PAD2) scheduled for 2019.
Our idea? Born from stories of common life ... our dream? Give consumers the opportunity to move freely. Where they want. When they want
How funds will be used
Your contribution will help us to develop the plug-in solution with 2 different technologies: REST API and BlockChain Hyperledger Fabric. Furthermore, we want to spread our product not only in Italy but also throughout Europe. In addition to this, donations will be used to support the marketing campaign on the product, in order to explain our plug-in solution and increase the awareness of people on the problem of Portability of the current account number. This would make it possible to reach a greater number of European banks and actively involve the consumer with regard to the problem of the portability of the current account number.
WHY 'WE ASK YOUR CONTRIBUTION?
The portability of the bank account would allow the consumer to be able to move freely from one bank to another, move without any constraint or constraint whatsoever. For this reason we believe that even a symbolic contribution from each component of the European Union will not only support software development costs, but will also be a strong sign of the will of change by the European Community.
Being free to move freely, to travel in any state without constraints related to the home bank, would allow you to live in a truly free and united Europe.
Who's behind the project?
Behind the project there is a team born from experience with FORFIRM Consulting, a consulting company in the banking and financial services branch.
Given the experience of FORFIRM (Valter Fusco and Enzo Russo) consultants with large banks or multinationals operating in the IT sector, such as Deutsche Bank, the idea was born to create a product that would not only simplify the life of the consumer, but would facilitate the Merging & Acquisition operations of the big banks are very important.
This is how the IBAN Portability Project was born, in Enzo Russo and Valter Fusco, respectively, the CEO and CIO of the start-up. In addition, Lorenzo Piludu, CTO, is responsible for the development of the Blockchain, Camila Baez Buchanan, Program Manager and Project Manager of IBANP, Federica Cunego, Marketing & Communication Manager and Luigi Ferrari, Business Developer
Project created by
Our idea stems from the need for common life. Our goal: to liberalize the banking sector to create a united Europe.
Our idea stems from the real need of many consumers, especially freelancers or Erasmus students, to be able to move freely throughout Europe without having to face the change in the current account number.