Mandatory Fields to Ensure Counterparty Uniqueness

Counterparty management in nBanks is now more robust and reliable. From now on, creating or editing counterparties requires the mandatory completion of the Country and NIF/VAT Number fields.

When this information is not provided by the bank, a new message, “IBAN not provided by the bank”, is displayed, clearly informing the user.

This change ensures that tax identification data is always complete and standardized, allowing each counterparty to be uniquely identified within the platform. By making these fields mandatory, nBanks helps prevent duplicates, improves data quality, and ensures consistency across all financial workflows.

This improvement supports a more secure and structured approach to counterparty management, aligned with best practices in financial control and data organization.

Benefits:

• Guaranteed uniqueness for each counterparty;

• Complete and consistent tax identification data;

• Reduced duplication and data inconsistencies;

• More reliable counterparty identification;

• Improved overall financial data quality.

Available in all geographies.

You can try this feature here.