Unveiling Confirmation of Payee- Inside CoP Modules: Exploring the Responder and Requester Module
The article delves into the Confirmation of Payee (CoP) system, a security feature preventing misdirected payments and fraud. It introduces the foundational concept of CoP and emphasizes its role in enhancing financial system trust. Focusing on the Requester Module, it outlines its functions, integration versatility, and user experience benefits. The module initiates CoP requests, handles various transaction types, and facilitates efficient responses, aiding in fraud prevention. The Responder Module is then explored, highlighting its role in managing inbound CoP requests, meticulous data matching, customization, response generation, and collaboration with TechnoXander for informed decision-making.