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CBI’s Leadership in Open Finance: Expanding Value-Added Services Through Collaboration

The Fintech Times

In this regard, over the years, CBI has developed several open banking and open finance services. Name Check CBI (Verification of payee VoP), is offered by CBIto mitigate fraudattempts, avoid misdirection ofpayments and enhance the stability of the financial market, forbothretailand corporatecustomers.

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RTP® and FedNow Transaction Limit Increases Fuel Instant Payments Surge

Fintech Finance

In response, 96% of US banks back the implementation of a ‘confirmation of payee’ scheme to protect against fraud. Value-added services likely to be adopted – The top five services are bill payments (52%), digital ID solutions (42%), confirmation of payee (38%), QR code-based payments (34%), and request to pay (34%).

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The Evolution of Open Finance Through the Lens of CBI

The Fintech Times

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.

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CBI and SEPAmail.eu Signed an Agreement to Set Up an Interoperable IBAN-Name Check – Verification of Payee (VoP) Solution

Fintech Finance

This joint initiative will expand, across Europe, a reliable VoP solution enhancing the security of SEPA Credit Transfers (SCT) and Instant Payments (SCT Inst) but also other value-added services. The new service will help PSPs to comply with regulatory standards while strengthening the security of their payment systems.

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Currencycloud Partners With Form3 to Boost Confirmation of Payee Fraud Detection Offering in the UK

Fintech Finance

Form3 , the cloud-native account-to-account platform, today announces that Currencycloud , a Visa solution focusing on simplifying business in a multi-currency world, has selected them to provide account verification technology to support Confirmation of Payee (CoP) activity, designed to reduce fraud in the UK.

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RedCompass Labs Reveals 8 in 10 US Banks are Happy With RTP and FedNow Instant Payments Limits

The Fintech Times

In response, 96 per cent of US banks back the implementation of a confirmation of payee scheme to protect against fraud. With adoption on the rise, 85 per cent of banks expect fraud to rise, and 36 per cent predict a sharp uptick. Surprisingly, earned wage access came in ninth place (29 per cent).

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2025 - 2030: Predictions for Real-Time Payments, ISO20022 and APIs

Finextra

Digital transformation through the use of APIs will also bolster end-to-end connectivity, paving the way for value-added services offering increased transparency and verification with Confirmation of Payee.