Confirmation of Payee (CoP) for Business
CoP is an industry-wide, regulated banking initiative in the UK that provides payers with additional peace of mind that payments are being sent to the right person.
You may have heard of Confirmation of Payee within the banking community to combat crippling Authorised Push Payment (APP) fraud and misdirected payments. However, this challenge is wider than banks. Our research shows that 30% of businesses were impacted by fraud in the last 12 months, and only a third of losses are recovered.
Finally, this new gold standard of account verification is here for Corporates. But how can you leverage the latest banking innovation to reduce the pains of timely, costly, and complicated processes prone to human error and fraud?
Find out the answer to this question from our expert panel in this short session which will also cover the following;
For the last 2 decades Mark has been helping organisations manage the risks associated with onboarding new customers. From validation of account numbers for BACS and SEPA payments, to the creation of automated account verification checks, Mark has managed and delivered a wide range of solutions that are used extensively by organisations across the UK.
Commercial Director, Global Corporate Solutions
James is Commercial Director, Global Corporate Solutions at Bottomline. He works with organisations specializing in Payments, Cash Management and Fraud & Financial Crime solutions, with over 20 years’ experience helping corporates and banks around the world find simple, smart, and secure SaaS offerings.
CoP for Business is provided by Bottomline Payment Services Ltd, who are authorized by the Financial Conduct Authority under the Payment Services Regulations for the provision of payment services with FCA registration number 616279.
Ideal for your business if you are making high-volume, high-value or high-risk transactions. By leveraging the core Confirmation of Payee (CoP), you can access over 92%* of consumer, corporate and business accounts in real time.
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