SolutionS
Confirmation of Payee (CoP) Solution: Secure, Cost-Effective, Fast-deployment
AI-Driven Fraud Prevention with Powerful Name Matching, Easy Integration, Expert Support.
Deploy CoP in Days, Not Months
Seamless and secure payment experience
Become instantly CoP compliant
Connects to European countries/schemes with a Confirmation of Payee solution
Prevent fraud and misdirected payments
Trusted by Banks and Financial Institutes across Europe
Approved CoP Aggregator from Pay.UK
Green light for faster CoP adoption! XBP Global, a Confirmation of Payee services leader, has secured approval as a CoP Aggregator from Pay.UK. This empowers banks and financial institutions to seamlessly implement CoP, boosting security and meeting the fast-approaching deadline.
AI-Powered Confirmation of Payee (CoP) – Experience Unrivalled Accuracy in Name Matching
See how our industry-leading AI verifies payee accounts and handles complex name matches with exceptional accuracy to minimize false positives and negatives.
Deploy CoP in Days & Secure Your Payments
Our cost-effective system deploys rapidly, getting you up and running in days, not months. Leverage industry-leading AI for accurate name-matching, minimising errors and ensuring a frictionless payment experience.
Leveraging its experience serving over 400 European financial institutions and expertise in critical payments infrastructure, XBP Global delivers a best-in-class Confirmation of Payee service that meets the latest Pay.UK and Open Banking security standards.
Stay ahead and become compliant on time
Under the Payment Systems Regulation, firms using unique sort codes or building societies employing alternative reference information must implement Confirmation of Payee (CoP) as a live service by 31 October 2024 in the UK.
Fast deployment
XBP Global’s cloud-based, hosted VOP services are quick and easy to deploy. All data is securely backed up to strategically placed servers, preventing data loss.
Quick Response and Matches
With a turnaround time of ~100ms for name-matching, this Verification of Payee solution offers highly accurate results, for a faster, safer payment experience.
Enhanced Security
This API solution verifies payee accounts. It validates account holder’s details to reduce the risk of paying into the wrong account, or Authorised Push Payment fraud.
System Resilience
Banks get a rapid, reliable Verification of Payee service for their mission-critical payments. All data is backed up regularly, providing a complete audit trail.
Transparent, integrated Reporting
All requests and responses are stored in the system. Reasoning overviews are provided for artificial intelligence insights, showing how results were obtained.
Expert guidance
Organisations wishing to implement Verification of Payee technologies can benefit from our 30 years of experience in the field.
XBP Global’s CoP nominated for Pay360 Awards
Opt for XBP Global’s CoP to experience frictionless, accurate payments for both payers and payees, guaranteeing a secure and efficient payment process.
Learn how implementing XBP Global’s Confirmation of Payee (CoP) helped a UK bank
XBP Global has extensive experience in offering name-matching solutions to European financial institutions and successfully delivering crucial components for critical payments infrastructure. Leveraging its expertise from serving more than 400 financial institutions across Europe, XBP Global launched a top-notch CoP service with great success.
Features
Tackle fraudulent and misdirected funds for account to account payments.
As one of the first to launch a Confirmation of Payee (CoP) system, we have a track record of delivering CoP services that work for open banking. Rapid deployment is possible via our unique portal, where CoP checks can be done within minutes, without having to integrate to existing systems. This powerful portal can also be used to generate key reports, simplifying the management of the service.
An API solution backed up with 30 years of experience
Cutting-edge AI tools offer powerful name-matching capabilities
Conforms to Open Banking requirements
Full, end-to-end auditing and reporting support decision-making
Frictionless payment experience for payees