TechnoXander Confirmation of Payee (CoP)

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Confirmation of Payee
TechnoXander Confirmation of Payee Product Pack
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What is Confirmation of Payee?
Confirmation of Payee (CoP) is a security feature
implemented by banks and payment service
providers to verify that the recipient's details
match the information provided by the payer
before processing a payment.
Benefits

• No misdirected payments
• Enhanced Security
• Fraud Prevention
• Customer Confidence
• Regulatory Compliance

Outcomes Match Close Match No Match Unavailable
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Confirmation of Payee Modules
TechnoXanders Confirmation of Payee consists of
4 modules that work seamlessly with each other to
provide institutions with name verification
service as per Pay.UKs Confirmation of Payee.
01 Application Registration Onboard and View
Applications registered with you and where you
have registered
04 Analytics Statictics for all
Registered Applications
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02
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02 Requester Request Payee check with ASPSP to
verify name
03 Responder Respond to Payee check request
with name verification results
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Requester Module
The Requester Module allows you to request name
verification results for new payees added by your
customers via Online Banking or Mobile
Banking. Pay.UK Directory
CoP Requester
Payer Bank
Payee Bank
Name Verification Request
Check Payee
Requester Services
Online Banking
Add Payee
Name Verification Response
Match
Lookup Analytics
Close Match
Mobile Banking
Payer Bank Customer
No Match
Unavailable Outbound requests originating from
Payer Bank
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Responder Module (Option 1 - Core Banking
Connection)
The Responder Module allows you to respond to
name verification requests with matching results
for customer accounts held at your
institution. Pay.UK Directory
CoP Responder
Payee Bank
Payer Bank
Responder Services
Core Banking
Matching Engine
Confirm Payee
Integration Layer
Match
Close Match
No Match
Unavailable
Inbound requests to Payee Bank
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Responder Module (Option 2 - Accounts Data in
your premises)
The Responder Module allows you to respond to
name verification requests with matching results
for customer accounts held at your
institution. Pay.UK Directory
CoP Responder
Payee Bank
Accounts Database
Payer Bank
Responder Services
Matching Engine
Confirm Payee
Integration Layer
Match
Close Match
No Match
Unavailable
Inbound requests to Payee Bank
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Responder Module (Option 3 - Secure File Transfer)
The Responder Module allows you to respond to
name verification requests with matching results
for customer accounts held at your institution.
Pay.UK Directory
Payee Bank
Secure file upload
CoP Responder Accounts Database
Secure Location
Payer Bank
Confirm Payee
Responder Services
Match
Close Match
Matching Engine
No Match
Unavailable
Inbound requests to Payee Bank
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Responder Module (Option 4 - Upload Accounts Data)
The Responder Module allows you to respond to
name verification requests with matching results
for customer accounts held at your
institution. Pay.UK Directory
CoP Responder Accounts Database
Responder Portal
Accounts Update
Payer Bank
Confirm Payee
Responder Services
Upload Accounts Data via User-friendly front-end
Match Close Match
Matching Engine
No Match
Payee Bank User
Unavailable
Inbound requests to Payee Bank
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Confirmation of Payee Features

• TechnoXander Confirmation of Payee (CoP) solution
  is a smart account name-checking service which
  gives UK payers extra assurance that payments are
  going to the intended recipient.
• SaaS offering
• CoP Requester and CoP Responder modules
• Messaging for Close Match and No Match
• Dynamic client onboarding
• Easy integration with Online and Mobile Banking
• Zero impact on underlying infrastructure
• Conforms to Pay.UK specifications
• Enhanced reporting to meet Pay.UK MI requirements
• Real-time analytics from the user Dashboard
• API Driven, Payment type agnostic solution
• Conforms to Banking Security standards
• Sandbox support
• Ready for Aggregator model

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Confirmation of Payee Application Registration
Module
The Application Registration module allows you to
onboard and view ASPSP applications. You can also
view the applications created by them with other
ASPSPs for name verification.

• Features
• Onboard ASPSPs (approx. 400) registered for CoP
• dynamically
• FAPI Compliant On-boarding module
• View on-boarded ASPSPs applications
• View ASPSP application details and status
• Activate/De-activate ASPSP applications
• View applications created by ASPSPs with other
  ASPSPs in the CoP domain

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Confirmation of Payee Check Payee
The Check Payee functionality allows you to check
payee details at the click of a button.

• Features
• Real-time checks
• No need to perform manual checks
• Covers all institutions onboarded to CoP
• Upload bulk payments to check file

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Confirmation of Payee Analytics Module
The Analytics module allows you to monitor API
traffic and all their interactions with other
ASPSPs.

• Features
• API Statistics for Availability
• API Statistics for Performance
• Statistics for Pay.UK reporting such as CoP
  Requests, CoP Responses and matching rates

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Security and Compliance
Authorised and Authenticated Access to
Infrastructure
Robust Security Framework
Non-repudiation achieved with Message Signing and
Encryption
All Communications secured with MTLS
Financial Grade API standard Compliant
Data Integrity and Confidentiality
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What you need to do?
Walk with us a few steps and we take care of the
rest of the journey.
CoP Requester - Clear Direct Messaging for bank
customers
CoP Responder - Share Accounts Data
Industry Engagement
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TechnoXander Expertise Support
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Roadmap for CoP
Our Confirmation of Payee service aims to provide
a secure, seamless, and globally accessible
solution for all your cross-border payment needs.
We are dedicated to reinforcing the trust and
security of your financial transactions.
Europe Integration Integration with Confirmation
of Payee services in the Netherlands, Italy and
Spain
Companies House Integration Integration with UK
Companies House
EBA Integration Integration with EBA Clearing
system for further reach
SWIFT Integration Integration with SWIFT for
cross- border name check verification
Enhanced Fraud Data Upgrade to Enhanced Fraud
Data Sharing model from Pay.UK
AI Fraud Prevention Launch of AI-based Fraud
prevention model ingesting recipient account
parameters
Confidential
2024. TechnoXander. 14
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Why choose us?
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Get in touch
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This proposal is made by TechnoXander and is in
all respects subject to the negotiation,
agreement and signing of a specific
contract/letter of engagement. The client names
quoted within this proposal are disclosed on a
confidential basis. All information in this
proposal is released strictly for this process
and must not be disclosed to any other parties
without express consent from TechnoXander.
2024. TechnoXander Ltd. Confidential.
technoxander.com