Verification of Payee Solution (VOP):
Secure, Cost-Effective and Fast
Deployment

Verification of Payee (VoP) is an account name checking service (IBAN check) used by banks and payment providers to verify the recipient’s name before a payment is processed. This prevents fraud, and delays caused by payment errors. XBP’s VoP solution is a cloud-native, AI-driven platform that supports both payer and payee functions. It offers high availability, real-time performance, and regulatory compliance across European markets.

An AI-powered VoP solution uses advanced name-matching algorithms, fuzzy logic, AI and machine learning to detect mismatches and reduce fraud. It filters out important data, supports multiple languages, and matches names even where there’s messy handwriting, misspellings or abbreviations. This speeds up document processing, prevents authorised push payment (APP) scams, and increases customer satisfaction.

XBP’s VoP platform supports name verification for:

• SEPA payments – Single Euro Payments Area enables cashless euro payments to anywhere in the Eurozone
• Faster Payments (FPS) – which facilitates real-time payments primarily via online or mobile channels
• Request to Pay (RtP) – a real-time, secure payments channel where billers can issue payment requests, and communicate with payers
• Les systèmes traditionnels fonctionnent souvent en silos. L’IDP s’intègre aux ERP, aux CRM et aux plateformes cloud pour un flux de données optimal.
• Image Clearing System (ICS) transactions – enables images of cheques to be exchanged between banks so cheques can clear more quickly

It’s built to secure all major electronic payment types, helping financial institutions comply with anti-fraud regulations and improve payment accuracy.

Our VoP platform ensures full SEPA and IPR compliance by incorporating robust audit logs, configurable matching logic, and real-time alerts. With over 30 years of experience in European banking systems, XBP helps financial institutions meet regulatory requirements while reducing liability and operational risk.

Yes. The VoP platform integrates easily with existing banking and payment systems through APIs, bulk data transfers, or a mix of both. It supports multiple data sources and is hosted on Google Cloud with containerised architecture, enabling seamless scalability and integration.

XBP’s VoP solution is uniquely ready for rapid deployment, thanks to its pre-configured APIs, mature architecture, and onboarding tools. Implementation timelines are short, often within 10 working days – making it ideal for banks seeking fast compliance and fraud protection.

We offer:

• Step-by-step onboarding assistance
• Technical support for integration
• A secure web portal for managing requests
• Dynamic registration to join the CoP ecosystem

Our 24/7 support team ensures a smooth and compliant launch.

Our VoP platform benefits:

• Banks and credit unions
• Fintech companies
• Corporate payment departments
• Government and regulated entities

Any organisation making or receiving digital payments can reduce fraud risk, improve compliance, and enhance customer experience.

VOP from XBP has an established track record of delivering payment systems, including the UK’s ICS central infrastructure via our partnership with Mastercard Vocalink. 

• 30+ years of name-matching experience
• Low response times ~ 100ms
• Full audit reporting
• AI engine trained on real-world data with low false-positive/negative rates
• Cloud-based infrastructure with high availability 
• Full support for joint accounts, nicknames, and corporate names
• Strong track record across Europe

If a name mismatch is detected:

• A detailed response is returned, including confidence scores and match reasoning
• The transaction is paused or flagged
• Alerts are triggered for review or customer follow-up

This process helps prevent unauthorised payments, protects end users, and reduces financial institution liability.