With the “Specific IBAN” service (per transaction/order, per customer, per project), Novalnet offers an intelligent, fully automated process that leads to the clear allocation of incoming funds as well as debits.
Who doesn’t know the scenario? The end customer has completed the purchase process, transferred the open amount, but specified an incorrect or ambiguous reason for payment. To make the tedious manual assignment of incoming payments a thing of the past, Novalnet can assign specific IBANs for each order or even for each end customer.
When payments are received, the customer and their associated order are automatically recognized based on the specific IBAN and clearly assigned to the correct open transaction.
Incorrect interpretations of the purpose of payment or incorrect entries by your customers no longer play a role. The specific IBAN is relevant for the payment methods Invoice and prepayment.
Trust accounts
As a BaFin-approved payment institution, Novalnet maintains trust accounts with its own virtual IBAN account management and over 10 million accounts (rotating annually). All transactions (payments/debits) are processed via the Novalnet trust accounts and paid out from there.
The contract partner only needs the technical connection to Novalnet. In the accounting system of the contractual partner (SAP, Navision, Datev etc.) Novalnet is simply deposited as a bank. Novalnet automatically delivers all transactions in the desired format (XML, iDoc, JSON, MT940, camt.053 camt.054 etc.).
Noticeable relief for the accounting department
The simple and much faster allocation of the payment to the financial accounting department allows for almost perfect process management, which increases the allocation reliability of payments to up to 100%. Particularly helpful for online merchants is the significantly reduced amount of work involved in assigning all credit memos. In addition, entrepreneurs benefit from the usual transparent overview of their transactions in Novalnet’s merchant administration.