TechnoXander Joins UK Government’s G-Cloud 14 Framework for CoP
TechnoXander joins G-Cloud 14 framework by the UK government to provide cutting-edge Confirmation of Payee services across the country.
Why Payment Delays in the UK Won’t Happen in Europe?
Check out the reasons for payment delays in the UK affecting Instant Payment guidelines and see if we can encounter the same in the Europe.
10+ Steps to Managing ICT Risk in Financial Institutions
Get detailed guidelines on how every financial institution across entire European Union can manage ICT risk in 2025.
7+ Key Features of Verification of Payee Solution Providers
Are you struggling to meet regulatory demands while ensuring secure payment processing? Banks are facing increasing pressure to comply with regulations like the Instant Payment Regulation (IPR) and the Digital Operational Resilience Act (DORA). At the same time, payment fraud remains a critical concern, with global fraud losses projected to reach $40 billion by 2027. […]
APP Scams Vs Civil Disputes: Navigating the Grey Area
The PSR's guidance report on distinguishing APP scams from civil disputes could help PSPs assess reimbursements claims for payments made via Faster Payments and CHAPS.
10+ Benefits of CoP Implementation in 2024!
Confirmation of Payee’s name verification process reduces the risk of APP fraud. It also can enhance the detection of fraudulent activities by cross-checking account information. Its successful use cases have also proven it to be very effective in combating certain types of APP fraud, such as Invoice Fraud.
New Labour Govt May Pause APP Reimbursement Policy!
The UK’s Payment Systems Regulators (PSR) are stepping to the plate to protect citizens and businesses, having introduced the new rules that will require banks and payment service providers (PSPs) to reimburse victims of Authorised Push Payment (APP) fraud up to £415,000, starting on October 7, 2024, incentivising industry investment in fraud prevention and improving customer protection.
COP TF’s Role in the VOP Scheme Management
The Verification of Payee (VOP) Scheme plays a role, in ensuring that payments reach the intended recipients accurately thus minimizing the potential, for fraud and mistakes. Overseen by the European Payments Council (EPC) AISBL the VOP Scheme Management follows an approach to uphold its reliability and flexibility.
Unveiling Finance: Open Banking Use Cases
With open banking paving the way there is a future of a more efficient, consumer-friendly financial ecosystem.
5+ Obligations for VOP Service Providers
All PSPs registered under the VOP scheme must follow the set of rules and guidelines laid out in the VOP Scheme Rulebook by the European Payment Council.