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Protection against fraud

Confirmation of Payee (UK)

Confirmation of Payee (CoP) is a new way of giving business and personal customers greater assurance that they are sending payments to their intended recipient, helping them to avoid making accidental or misdirected payments to the wrong account holder, as well as providing another layer of protection in the fight against fraud, particularly Authorised Push Payment (APP) scams.

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Product Highlights

The Advantages of Confirmation of Payee

Open Banking Experience

CoP solution is built on Open Banking rails and our experience in this field is critical to your project success.

Our core-banking connectors provide seamless integration for CoP.

Cost Effective

SaaS pricing based on the volume of CoP verification calls.

Fixed license fee for on-premise deployment for unlimited CoP verifications.

End to End Delivery

Our solution is delivered in its entirety including core banking integration support meeting all Pay.UK conformance tests.

We also provide consulting support on the bank customer channels (online/mobile banking) integration.

Flexible Deployment

Our solution is offered as SaaS or be installed on the bank's public cloud or on-premise.

Our modern infrastructure automation allows easy installation of the entire CoP solution.

Protect Payments using CoP

Confirmation of Payee (UK)

Inbound, Outbound, or Combined CoP

Simple onboarding process

Dedicated development support

Covers current and future phases of CoP

Available on-premises or via SaaS

Channels integration support

Allows extracts for Pay.UK reports and usage

Audit logging and management

Fully supports investigations and liability identification

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Solution features

Our CoP Solution Offers

Outbound Confirmation of Payee (CoP)

Outbound CoP

Confirm Payee identity to the Payer before payments are processed.

Provide assurance that the payment will reach its intended recipient.

Protect the Payer from “mis-keyed” payments and APP fraud.

Place legal liability with the Payer for unconfirmed payments.

Easily integrate with your existing customer engagement channels.

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Inbound CoP

Confirm to the Payer that they are paying the correct Payee.

Avoid liability by notifying the Payee when there is a match.

Enhance your reputation by providing Payee account assurance.

Avoid fraudsters seeing your organisation as a ‘safe haven’.

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Inbound Confirmation of Payee (CoP)

Confirmation Of Payee Demo

See Banfico’s Confirmation Of Payee solution in action! Please fill the information below to schedule a demo.