Format Validation: Verifies the IBAN follows the correct structure and length for the specific country
Checksum Validation: Calculates and verifies the IBAN checksum to ensure the number is mathematically correct
Country-Specific Rules: Ensures the IBAN conforms to the unique requirements of different countries
Bank Account Lookup: In some cases, the API can return additional information about the bank or branch associated with the IBAN
Error Handling: Provides clear error messages if the IBAN is invalid, reducing the risk of transaction failures