How Consumers Can Benefit from Confirmation of Payee
Mistaken or fraudulent payments cost consumers millions every year, creating significant financial and emotional stress. In response to this growing issue, Confirmation of Payee (CoP) is emerging as a critical solution designed to safeguard individuals from these costly errors.
obconnect awarded aggregator status from Pay.UK: Leading the way in Confirmation of Payee solutions
This achievement marks a pivotal moment for obconnect as it continues to lead the industry in providing innovative and reliable Confirmation of Payee (CoP) solutions.
The Future of Confirmation of Payee in Open Banking
Explore the future of Confirmation of Payee in Open Banking. Learn how it benefits financial institutions by enhancing data security, consumer protection, and fraud prevention.
Zopa Bank partners with obconnect for Confirmation of Payee (CoP)
We are excited to announce our new partnership with Zopa Bank, one of the UK’s leading digital banks, to implement our advanced Confirmation of Payee (CoP) solution. This partnership highlights Zopa’s commitment to protecting its customers from fraudulent transactions and ensuring the accuracy of their payments. The adoption of our CoP solution by Zopa Bank […]
Mutual Vision chooses obconnect for Confirmation of Payee (CoP)
We are pleased to announce that Mutual Vision, a prominent provider of digital solutions to building societies, has selected obconnect as their Confirmation of Payee (CoP) solution provider. This collaboration marks a significant step towards enhancing payment security across Mutual Vision’s extensive network. Our CoP solution will empower Mutual Vision to offer their clients a […]
obconnect signs Newbury Building Society for Confirmation of Payee (CoP) Service
We are thrilled to announce our latest partnership with Newbury Building Society, a well-respected financial institution committed to serving its members with excellence. As of today, Newbury Building Society has joined forces with obconnect to enhance their financial security through our Confirmation of Payee (CoP) services. CoP is a significant step forward in reducing fraud […]
obconnect welcomes Dudley Building Society to its Confirmation of Payee (CoP) client list
We are delighted to welcome Dudley Building Society to the obconnect family as they implement our Confirmation of Payee (CoP) service. This partnership is a testament to the Dudley Building Society’s commitment to enhancing payment security for its members. CoP solution provided by obconnect will allow Dudley Building Society to safeguard its members from fraudulent […]
Benefits of Confirmation of Payee
To learn more about Confirmation of Payee (CoP), download our white paper here. As financial transactions grow in complexity and number, ensuring their authenticity and security becomes paramount. Here’s a deeper dive into the manifold advantages offered by the Confirmation of Payee (CoP) system: Enhanced Security With an influx of digital transactions, the associated risks […]
The Mechanics of Confirmation of Payee (CoP)
To learn more about Confirmation of Payee (CoP), download our white paper here. The Confirmation of Payee (CoP) process, while appearing straightforward at a glance, is a culmination of multiple intertwined components working in tandem to ensure the security of transactions. Here, we dissect the primary constituents of the CoP mechanism: Name Matching At the […]
Why Confirmation of Payee (CoP) matters
Confirmation of Payee (CoP) represents a crucial advancement in banking security protocols. Designed meticulously for the financial sector, its primary objective is to thwart potential misdirected or fraudulent payments. By ensuring a match between the recipient’s name and the account details provided by the payer before transaction authorisation, CoP plays a pivotal role. Its implementation […]