Secure Account Validation for Corporates with Confirmation of Payee (CoP)
Accurate account validation is essential for corporates managing large volumes of payments, suppliers, and disbursements. Traditionally the preserve of banks, Confirmation of Payee (CoP) is now available to corporates through obconnect in partnership with PayPoint. Our solution enables secure, real-time account verification via portal, file upload or API – without exposing sensitive payment systems. Whether you’re validating payroll details, onboarding new suppliers or distributing refunds, CoP gives your teams instant clarity, speed and protection. Make fraud prevention and payment accuracy business as usual.
Designed for Real-World Business Scenarios
Payroll and Direct Debits
Validate bank details for new starters, salary changes, and payment schedules
Supplier and Invoice Checks
Customer and Cardholder Verification
Customer and Cardholder Verification Strengthen KYC processes by matching accounts with registered cardholders
Refunds and Disbursements
Ensure repayment destinations are valid, especially for energy refunds or overpayments
Detect mismatches and prevent misdirected payments before they happen
Combine CoP with internal checks to meet evolving audit and regulatory expectations
Why Choose obconnect and PayPoint for Corporate CoP
Flexible Integration Options
Real-time validation protects you from fraud, error and non-compliance
Adopted by over 300 financial institutions and corporates in the UK
Solutions for Corporates
CoP
CoP, or Confirmation of Payee, is an integral service offered by obconnect, designed to add a layer of security to your financial transactions by verifying account names against details in real-time.
CoP adds an invaluable layer of trust and security to your financial transactions, effectively serving as a powerful anti-fraud and error-checking mechanism.
From KYC to verifying new beneficiaries like suppliers or employees, CoP ensures that your corporate financial transactions are seamless and secure.
TPP Software
obconnect’s TPP (Third Party Provider) Software for Corporates is a specialised solution designed to facilitate seamless interactions between corporates and financial institutions.
From executing consented requests to initiating complex financial transactions, our software ensures compliance with Open Banking standards.
By implementing TPP Software, corporates can achieve real-time accuracy in their transactions and enjoy a seamless, simplified experience, from account verification to payment initiation.
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Open Banking offers numerous benefits for corporates, including enhanced financial management, improved cash flow visibility, and access to innovative payment solutions. By leveraging Open Banking, corporates can automate and streamline their financial processes, from invoicing to payments, leading to increased operational efficiency. Moreover, Open Banking enables more informed decision-making through real-time financial data access, facilitating better treasury management and strategic planning.
For corporates, Open Banking represents a paradigm shift in how they manage their finances and interact with financial services. It signifies a move towards more open and interconnected financial ecosystems where corporates can seamlessly integrate their financial operations with various banking and fintech services. This not only enhances their financial operations but also opens up opportunities for innovation in product offerings, customer service, and business models, driven by the insights and efficiencies gained through Open Banking.
A wide range of Open Banking solutions are available to corporates, tailored to meet diverse financial needs. These include solutions for streamlined payments and receivables, enhanced liquidity management, advanced analytics for financial forecasting, and customised financial services integration. Open Banking solutions also facilitate better supplier and customer relationship management through efficient, transparent financial transactions and offer opportunities for corporates to access alternative financing options.
While not mandatory, Open Banking can significantly benefit corporates by providing more control over financial data, enabling improved financial decision-making, and offering access to innovative financial products and services. For corporates looking to enhance their financial operations, reduce costs, and gain a competitive edge through digital transformation, Open Banking presents a compelling opportunity to leverage technology for strategic advantage.
