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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.
ID-Pal , the leading experts in AI-powered identity verification, today announces the launch of ID-Pal Once at Money20/20: a reusable KYC solution that enables organisations to simplify operational processes, control costs and focus on growth while delivering a seamless user experience as standard.
Trulioo , an industry-leading identity platform with proven global coverage for person and business verification, today announced its partnership with Trust Payments , one of Europe’s fastest-growing payment technology providers. The company meets rigorous EU and U.K.
Address Verification is used in all kinds of credit card scenarios. The costs to use AVS are generally quite low, but address verification is one of the qualifying factors for lower priced interchange categories. AVS Codes When you use AVS, you’ll see a code with the result of the verification. When is AVS used?
Joining the FinextraTV studio at EBAday 2025 in Paris, Paulo Barbosa, COO, Banfico helped to provide an understanding of what a routing and verification mechanism (RVM) is and how it is impacting the verification of payee landscape.
Belgian banks have become the first in the Eurozone to go live with Verification Of Payee (VOP), ahead of the October 2025 deadline set by the EU Instant Payments Regulation. Once batch payment verification is added, this figure is expected to double. SurePay now processes 200 million VOP checks per month.
Sumsub , a full-cycle verification platform, has introduced its Australia DVS (Document Verification Service) Verification product. For Australian businesses that require secure and compliant document verification, Sumsubs DVS Verification facilitates user onboarding with real-time identity validation.
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. We’re happy to be building on our partnership with Form3.”
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.
Credit union credit card issuer Collabria Financial Services has teamed up with digital identity verification fintech Trulioo. The Canada-based card issuer will leverage Trulioo to streamline the verification process for new cardholders.
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.
iDenfy , the global fraud prevention identity verification service provider, has filed a patent for technology that verifies a user’s address data. Fraudsters, using forged or altered information, have long been exploiting traditional address verification methods, such as utility bills or other proof of address documents.In
ValidiFI has expanded its vAccount+ suite to include authoritative bank account verification, enabling real-time validation of account status and ownership using direct-source financial data. This is in contrast to traditional verification methods that rely on information supplied by the user, manual document uploads, or even micro-deposits.
Banqup Group, the company behind the trusted digital platform Banqup, has announced a partnership with iPiD, a global leader in payee verification technology.
Banfico, a leading global fintech specialising in account verification solutions, has become the first Routing and/or Verification Mechanism (RVM) to achieve full qualification status in the European Payments Council's (EPC) Verification of Payee (VOP) scheme.
Belgian banks are the first in the Eurozone to go live with Verification Of Payee (VOP), well ahead of the October 2025 deadline set by the EU Instant Payments Regulation. Once batch payment verification is added, this figure is expected to double. SurePay now processes 200 million VOP checks per month.
Webinar The final countdown: What’s next for Verification of Payee? The Verification of Payee (VOP) deadline is just around the corner. Could VoP become the global standard for payee verification, similar to how GDPR reshaped data privacy? However, the need for Payee Verification, aka KYP (Know Your Payee), goes beyond Europe.
Paysera , a financial technology company with 20 years of market experience, has announced a strategic partnership with iPiD, a global provider of payee verification solutions. The goal of this requirement is to increase payment security and reduce the risk of fraud and errors throughout the SEPA area.
Recognising evolving challenges related to fraud, Intergiro , a white-label fintech platform, and Movitz , the payment fintech, have joined forces to combat financial fraud by building advanced payment verification solutions which financial institutions can leverage to enhance the security of their customers as they make payments online.
By integrating iPiD’s solution, Emirates NBD strengthens its fraud prevention strategy while laying the groundwork for scalable payee verification across global markets. Our partnership with iPiD – bringing global payee verification capabilities to enhance cross-border payments– reinforces this commitment.
Belgian banks are the first in the Eurozone to go live with Verification Of Payee (VOP), well ahead of the October 2025 deadline set by the EU Instant Payments Regulation.
Global payments infrastructure provider Nium has launched Nium Verify, a real-time bank account verification service available in 50 markets. billion in 2020—often due to outdated, error-prone verification methods—Nium Verify offers a solution through direct integration with clearing systems and major banks within each country.
The report, based on Sumsubs internal identity verification and user activity data from 2023 and 2024, along with a survey of over 300 companies across the crypto, banking, payments, and e-commerce sectors, reveals that APAC was the only region to record a decline in crypto fraud in 2024, with fraud rates dropping from 2.6%
In March 2025, the Eurosystem completed exploratory work for offering a Verification of Payee (VoP) service for payment service providers (PSPs) in SEPA, helping them comply with the EUs Instant Payments Regulation across credit transfers in Euro.
This is in line with Confirm’s goal to provide global account verification services through a single, secure network.” By leveraging our account verification capabilities, we are reducing friction in global payments, creating a more efficient, secure, and compliant payments ecosystem.”
Home Announcements Identity Experian integrates Mastercard ID verification and fraud prevention tech External This content is provided by an external author without editing by Finextra. A key feature in Experian’s Identity and Fraud solutions, identity verification, plays a vital role in the fight to prevent fraud and cybercrime.
Fraud in Asia Pacific’s fintech and healthtech industries has risen sharply over the past year, according to new data from global verification provider Sumsub. This method is particularly concerning in sectors like fintech and healthtech, where digital onboarding and remote verification are commonly used.
The EDS will be accessible to scheme participants adhering to the VOP scheme and to the Routing and Verification Mechanisms (RVMs) operating on their behalf. The EDS wont store any personal data or IBAN, as it will only be used for routing purposes between business entities (PSPs and RVMs).
In this interview, Gus Tomlinson, Managing Director, Identity Fraud, GBG sat down with FinextraTV to discuss some of the progress being made when it comes to identity verification.
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.
The new solution supports payment service providers (PSPs) in offering Verification of Payee services to their customers that fulfill the requirements of the Instant Payments Regulation (IPR) and of the VOP Scheme developed by the European Payments Council (EPC). EBA CLEARING today announced the launch of its SEPA-wide VOP solution.
BIOMETRICS: Life Card is to start issuing payment cards with fingerprint verification Japanese credit card issuer Life Card is to begin issuing cards containing a built-in fingerprint verification sensor this year, in a move that marks the first commercial launch of biometric payment cards in Japan.
Data from identity verification specialist Sumsub reveal that identity fraud incidents have more than doubled in the past three years, with account takeovers and deepfakes emerging as major concerns. of all verifications analyzed worldwide by Sumsub, marking a staggering 136.4% Financial services have become a prime target.
With a proven track record in transforming financial data collection across different sectors, Armalytix has developed a sophisticated platform that streamlines Source of Funds (SoF) verification, addressing long-standing challenges in legal financial processing.
One of the largest scams uncovered by Visa involved fraudulent identity verification schemes. Scammers sent phishing links disguised as legitimate verification sites via dating platforms, enrolling victims in recurring billing cycles.
Core banking provider Tuum and verification platform Sumsub announced a partnership this week. ” Through the partnership, banks and fintechs working with Tuum will benefit from automated identity verification and AI-powered fraud detection and transaction monitoring.
QwikPay , the Australian paytech, is improving its real-time user onboarding while maintaining compliance with financial regulations in Australia, following a new partnership with iDenfy , the identity verification and fraud prevention technology provider. We needed a compliance partner that could scale with us while maintaining user trust.
Check IBAN allows online verification of the association between IBAN code and Fiscal Code/VAT, provided by a natural or legal entity, both in the Italian and European market. This service facilitates Public Administration and corporates in fulfilling their fraud prevention activities vis--vis their customers (e.g.
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. Developed in line with European standards, the solution offers a unified method for IBAN verification in financial transactions.
Experian and GBG have expanded their partnership to enhance fraud prevention and identity verification services for organisations across Australia and New Zealand. The move comes amid growing concerns around identity-related fraud.
OKX has also introduced Singpass verification to further enhance the user experience. Customers can now deposit SGD into their OKX accounts using PayNow and withdraw funds via FAST, provided their bank is one of the 27 institutions participating in the service.
Global verification provider Sumsub has partnered Elliptic, a cryptoasset risk management firm, to bolster its crypto transaction monitoring and Travel Rule solutions. As blockchain technology advances, so do the threats it faces, making comprehensive and adaptive tools essential. said James Smith, Co-founder of Elliptic.
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