Confirmation of Payee Service for Payment Security.
Adhering to Pay.UK and Payment Systems Regulator to eradicate fraudulent and misdirected payments.
For those Financial Institutions mandated, get in touch with our experts to get onboarded swiftly at competitive pricing.
Confirmation of Payee Service for Payment Security.
Adhering to Pay.UK and Payment Systems Regulator to eradicate fraudulent and misdirected payments.
For those Financial Institutions mandated, get in touch with our experts to get onboarded swiftly at competitive pricing.
Features of Exela Confirmation of Payee Service
- Quick response time ~100ms
- End-to-end audit and reporting
- Manages complex account names
- Decades of tuning for accuracy for minimised false positives & negatives
- Industry leading API and portal service
Exela is one of the first few CoP service providers in UK and is the largest vendor for CoP in Europe, serving all types of Banks, Building Societies and PSPs.
Exela is the leading supplier of technology and services for the UK’s newest payment scheme, ICS (the Image Clearing System), and participates in both of the New Payments Architecture (NPA) overlays of CoP and Request to Pay (RtP).
Exela’s account name validation services have protected over 400 banks across Europe while constantly evolving and fine-tuning the offering for over 30 years. In addition, the data is backed up to strategically placed servers to guarantee no information is lost.
Exela - Largest Vendor for CoP in Europe
Exela is one of the first few CoP service providers in UK and is the largest vendor for CoP in Europe, serving all types of Banks, Building Societies and PSPs.
Exela is the leading supplier of technology and services for the UK’s newest payment scheme, ICS (the Image Clearing System), and participates in both of the New Payments Architecture (NPA) overlays of CoP and Request to Pay (RtP).
Exela’s account name validation services have protected over 400 banks across Europe while constantly evolving and fine-tuning the offering for over 30 years. In addition, the data is backed up to strategically placed servers to guarantee no information is lost.
Reliability and Visibility with Exela CoP
Exela CoP uses AI and advanced matching algorithms to tackle problems relating to issues for name matching, such as missing components, spelling differences, truncated names and so on. With decades of fine-tuning, the platform also reduces the risk of false positives and negatives.
Exela’s Confirmation of Payee system offers high efficiency with a turnaround of ~ 100ms, enabling highly accurate matching results. In addition, it stores requests and responses, providing a complete audit trail and keeping the process transparent.
Watch our Finovate Europe video to understand Exela Confirmation of Payee service and the platform.
Reliability and Visibility with Exela CoP
Exela CoP uses AI and advanced matching algorithms to tackle problems relating to issues for name matching, such as missing components, spelling differences, truncated names and so on. With decades of fine-tuning, the platform also reduces the risk of false positives and negatives.
Exela’s Confirmation of Payee system offers high efficiency with a turnaround of ~ 100ms, enabling highly accurate matching results. In addition, it stores requests and responses, providing a complete audit trail and keeping the process transparent.
Watch our Finovate Europe video to understand Exela Confirmation of Payee service and the platform.
Payee confirmation with Exela CoP
Rapid Confirmation of Payee system deployment
Exela's cloud-hosted CoP can be deployed within 4 to 6 weeks. The quick deployment ensures that the service is uninterrupted, fast and reliable. Also the solution can be implemented on a specified date to suit you.
With a wealth of experience in payment technology, Exela can implement both the Payer (Outbound Phase) and the Payee (Inbound Phase) separately or together. Also, you can schedule and implement the solution when suitable for you.
Read the Case Study to learn how our Client was able to swiftly implement CoP and continues to tackle fraudulent payments.
Rapid Confirmation of Payee system deployment
Exela's cloud-hosted CoP can be deployed within 4 to 6 weeks. The quick deployment ensures that the service is uninterrupted, fast and reliable. Also the solution can be implemented on a specified date to suit you.
With a wealth of experience in payment technology, Exela can implement both the Payer (Outbound Phase) and the Payee (Inbound Phase) separately or together. Also, you can schedule and implement the solution when suitable for you.
Read the Case Study to learn how our Client was able to swiftly implement CoP and continues to tackle fraudulent payments.
ABOUT EXELA
Exela Technologies, Inc. (Exela) is a global business process automation (BPA) leader, combining enterprise software and solutions with decades of experience. Our BPA solutions are deployed through a secure, cloud-enabled delivery model to support mission-critical operations in banking, healthcare, insurance, high tech, manufacturing, telecommunications, and other industries. Exela partners with customers to increase efficiency, drive productivity, and improve user experience. We work with over 4,000 customers in more than 50 countries, including more than 60% of the Fortune® 100.
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