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 […]

CoP portal by obconnect

At obconnect, we recognised early on, back in 2019, that the true value of Confirmation of Payee (CoP) for participant banks extended beyond just digital channels. While others in the industry were focused solely on delivering CoP through digital means, we took a different approach. Through extensive investigation and research, we identified that a portal […]

What Are TPPs in Open Banking?

Discover the role of Third-Party Providers (TPPs) in open banking. Learn how TPPs innovate financial services by facilitating secure data sharing and enabling new banking solutions.

Bank Account Verification: What It Is and How It Works

Whether you’re a business processing payments or an individual initiating transactions, verifying the authenticity of bank account details is essential to mitigate risks and prevent errors. This is where bank account verification comes into play. In this detailed guide, we’ll dive into the concept of bank account verification, exploring what it entails and how it […]

What is Open Banking? The Series

Explore the transformative power of Open Banking in our series, highlighting its role in enhancing financial accessibility for the underserved. Discover how, in the last month alone, over 150,000 users have embraced Open Banking with obconnect and Paypoint plc for a seamless transaction experience, marking the beginning of a new era in banking inclusivity.