Raidiam is delighted to be working with obconnect on the delivery and operation of this new service for the New Zealand Banking Association.
This started as a vision by Minister Andrew Bayly to safeguard New Zealand citizens from the growing threat of fraud and scams. By setting out his expectations of the sector to introduce a Confirmation of Payee solution across the nation’s banks, he prioritised the security and protection of individuals and businesses alike. This initiative, made possible by the expertise of two UK companies, will enhance trust in payment systems, reduce fraudulent transactions, and bring New Zealand in line with global best practices for financial integrity.
Our role has been to enable the Confirmation of Payee ecosystem through our Trust Platform, Raidiam Connect. We are responsible for setting up and configuring both the production and sandbox environments. As with all the ecosystems we power with our technology, this is built on the most secure security standards in existence to ensure that the data sharing is protected and trusted.
Raidiam and obconnect are both experts in what we do. That’s why we were able to get this delivered in just four months. No drawn out implementation programme with spiralling costs and long waits for customers to start realising the benefits.
This is another great example of UK fintech companies exporting our homegrown expertise to global markets. And it’s only the beginning for New Zealand. Now that these capabilities are in place, we can’t wait to see what they’ll do next.
Interested in learning more about how we deliver trusted data sharing ecosystems in New Zealand and beyond? Get in touch today!
