Nexory Cloud is a mid-sized CRM platform that works with over 12,000 SME customers globally. They offer embedded invoicing and direct-debit payment features within their platform — making the validity of stored bank account data critical for day-to-day revenue.

They were seeing increasing chargebacks, payment failures, and cash flow disruptions due to outdated or inactive IBANs stored on file.

---

The Problem

• Clients often changed banks without updating their IBANs
• Over 4.7% of monthly charges failed due to closed or invalid accounts
• Manual re-verification was impossible at scale
• Cash collection delays created unnecessary friction with users

“We were collecting bank data… but had no way of knowing if it was still valid 3 months later.”

---

The Solution

Nexory implemented MonitorPay.ai’s Continuous Monitoring API, enabling them to:

• Track the status of all stored IBANs
• Receive real-time alerts when an account is closed, updated, or reassigned
• Automatically notify the customer to re-enter updated payment data via email triggers

They connected MonitorPay’s webhook service to their internal billing system and CRM in under a week.

---

The Results

• 📉 Chargeback rate reduced by 79%
• 📬 Average time to resolve invalid accounts dropped from 4 days to <24 hours
• 💰 Increased monthly collections by €40,000
• 📲 Customers rated payment alerts feature 4.8/5 in satisfaction

“We stopped chasing failed payments and started proactively fixing them.”

— VP of Customer Success, Nexory Cloud