The Fintech Times

JANUARY 7, 2025

In this regard, over the years, CBI has developed several open banking and open finance services. This initiative enhances the security of SEPA Credit Transfers (SCT), Instant Payments (SCT Inst), and other value-added services, while also helping PSPs comply with regulatory standards.

Value Added Service 105

Value Added Service Finance Cross-Border Payments Payee 105

The Fintech Times

DECEMBER 18, 2024

From an open finance and data monetisation perspective, CBI has developed several value-added services (VAS) that render its clients even more competitive. Tackling fraud CBIs response to increasing fraud and misdirection of payments is evident in a range of services, such as: Check IBAN, Name Check, CBI GO and CBI Safe Trade.

Finance 115

Finance IBAN Fraud Prevention Interoperability 115

Fintech Finance

OCTOBER 9, 2024

and CBI joins their IBAN-Name Check expertise at the service of their respective communities in order to offer an interoperable solution to fight against fraud. The IBAN Name Check – VoP Service, is designed to ensure that IBAN codes are correctly matched with the names of beneficiaries before payments are processed.

IBAN 105

IBAN Interoperability Payee Verification 105

The Payments Association

APRIL 23, 2025

The verification of payee (VoP) requirement represents another challenge that must be addressed by October, adding further pressure to banks. Systems that verify the IBAN matches with the intended recipients name notably a feature not previously mandatory in SEPA credit transfers are now compulsory.

Real Time Payments 88

Real Time Payments Innovation Instant Payments Payments 88