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LSEG Risk Intelligence has launched its Global Account Verification (GAV) service in Asia-Pacific and Europe, the Middle East, and Africa, expanding efforts to enhance security in cross-border payments. This helps businesses confirm supplier and customer payments and detect potential fraud risks.
IFX Payments , a service-led alternative banking partner, today announces it will be using Form3 ‘s Verification of Payee (VoP) solution for SEPA account, strengthening its defences against payment fraud and aligning with the Instant Payments Regulation mandate.
The collaboration will enable Emirates NBD to provide real-time beneficiary validation for cross-border payments. With this solution, customers can verify payee names, IBANs and account numbers in real time, before a payment is made.
Following this announcement, the collaboration is set to enable IFX Payments to leverage Form3’s Verification of Payee (VoP) solution for SEPA accounts, aiming to strengthen its defences against payment fraud and aligning with the Instant Payments Regulation mandate.
PingPong , the world-leading provider of embedded cross-border payment solutions for enterprises, today announces it will be using Form3 ‘s Verification of Payee (VoP) solution for SEPA account validation, giving PingPong a competitive edge by implementing compliance measures five months ahead of the October go-live date.
In recent years, the payments market has been marked by continuous dynamism, driven by disruptive innovations and the emergence of new paradigms based on open models. It is offered by the payers PSPs to their users, both for domestic and cross-border payments in euro.
With impending regulatory changes from the UK Payment Systems Regulator (SD17) and EU legislation on Instant Payments, data and security (PSD3), it is imperative that financial institutions have Verification of Payee (EU) and Confirmation of Payee (UK) solutions in place.
LSEG Risk Intelligence is launching Global Account Verification, which checks payee and account details match before transfers are confirmed, as well as Document and Biometric Verification, which uses AI and deep learning to accurately conduct identity checks.
Linking financial institutions and corporates with its Banking-as-a-Service platform, ONPEX enables FIs to deploy cloud-based account and payment technology to digitize operations and enhance their cross-border corporate payment offerings. growth trajectory, particularly in the healthcare and public sectors.
Also this week, the company announced that it was teaming up with business identity platform, and fellow Finovate alum, Middesk to enhance KYB verification for both banks and credit unions. Central and Southern Asia Indian API infrastructure provider M2P Fintech is “on track” to raise $80 million in new funding.
This week’s edition of Finovate Global features the latest fintech news from Germany, where investors are backing innovations in embedded finance, payments companies are taking advantage of open banking, and the green shoots of crypto spring are growing ever more apparent.
FinMont , the global payment orchestration platform, has published a new survey about European consumers’ online travel booking habits, expectations and frustrations. Mashreq has launched the International Bank Account Number (IBAN) Validation Application Programming Interface (API), tailored for its business and corporate customers.
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