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confirmation of payee
Use cases: Confirmation of Payee

Drive Secure and Efficient Confirmation of Payee Solutions

Raidiam empowers financial institutions to enhance their Confirmation of Payee (CoP) processes, ensuring secure, efficient, and compliant transactions. Whether you’re enhancing existing payment systems or launching new CoP services, our technology ensures trust, compliance, and interoperability at every stage of your journey.

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  • Ministry of Defence
  • Open Banking UK
  • Commonwealth Bank
  • Foreign & Commonwealth Office
  • Lloyds Banking Group
  • Open Insurance Brasil
  • thredd
  • Westpac
  • UAE-central-bank
  • central bank of brasil
  • ConnectID
  • Open finance brasil

Reducing fraud and misdirected payments by enabling Confirmation of Payee (CoP)

 

Raidiam provides the foundational trust framework underneath Confirmation of Payee (CoP) schemes, ensuring that account name and number verification requests are routed securely, reliably, and efficiently between banks and payment providers within the scheme. 

The Raidiam Connect platform delivers the infrastructure needed for seamless data sharing between banks and payment providers, reducing fraud and misdirected payments.

By leveraging robust security standards, API-based interoperability, and centralised participant accreditation, Raidiam creates a trusted ecosystem where account details are verified before payments are processed.

Technology and expertise to enable Confirmation of Payee schemes

Raidiam provides the technology and expertise to enhance your CoP processes with four core products and services

Specialist advisory services

Raidiam Advise

Specialist advisory services to guide you through all stages of your open data sharing journey.

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Digital trust platform

Raidiam Connect

Raidiam’s SaaS off-the-shelf digital trust platform powers API-based ecosystems for open finance and open insurance in Brazil, and confirmation of payee in New Zealand.

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Centralized Directory
Strategy & technology solutions

Raidiam Enable

Raidiam Enable is a consulting and technology service that helps organisations launch secure and scalable Open Data ecosystems. From defining governance to implementing reference tools, we guide you every step of the way—ensuring compliance, security, and rapid deployment. 

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Conformance and certification

Raidiam Assure

Raidiam Assure provides processes and tools to verify and enforce that participants are correctly implementing the ecosystem standard. This solution empowers organisations to maintain the highest standards of security and interoperability, fostering a reliable and secure environment to facilitate data sharing and collaboration. 

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Assure

Raidiam Connect – The Backbone of Secure CoP Solutions

Seamless Interoperability

Enable seamless integration of CoP processes across financial institutions and systems. Raidiam Connect is built on open standards and API-driven architecture, ensuring compatibility with existing payment schemes, regulatory frameworks, and financial service providers. Our technology supports cross-border and multi-sector data-sharing initiatives, making it easy to connect and operate within complex payment ecosystems.

Scalable data sharing ecosystem

Infinitely Scalable Solutions

Effortlessly support your growing payment ecosystem with a solution designed for flexibility and high performance. Raidiam Connect is built on a modular, cloud-native architecture, enabling seamless expansion from local implementations to nationwide frameworks. Whether you need to onboard a handful of financial institutions or scale across a multi-jurisdictional network, our platform adapts to your evolving needs.

The Highest Level of API Security

Protect transactions with best-in-class identity verification and authentication mechanisms. Raidiam Connect leverages Public Key Infrastructure (PKI), cryptographic trust models, and centralised digital trust directories to ensure that only verified and authorised entities participate in payment processes. This reduces fraud risks, prevents misdirected payments, and strengthens overall security in the financial ecosystem.

Raidiam Advise – Expert Guidance for CoP Implementation

With Raidiam Advise, we provide tailored strategy and ecosystem design to ensure your CoP solution is not only compliant but also optimised for efficiency and security.

  • Why choose Raidiam Advise for CoP?

    Regulatory Expertise: Navigate complex compliance requirements with our industry-leading advisory services.

  • Strategic Implementation: Design a CoP solution that aligns with your operational goals and enhances customer trust.

  • End-to-End Support: From initial consultation to full-scale deployment, we guide you at every step.
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Why Raidiam?

  • Pioneers in data-sharing
    With deep expertise in trust frameworks and secure infrastructure, we enable your success
  • Financial-grade security
    Technology built to the highest standards, including FAPI and ISO 27001, ensuring secure API protection
  • Proven track record
    Trusted by banks, regulators and enterprises worldwide to power secure ecosystems
  • 24/7 global support
    Always-on assistance to keep your ecosystem running smoothly, minimising downtime and risk

FAQs

Need to know more? Speak to our consultant.

Why is Confirmation of Payee (CoP) important for financial institutions?

CoP is crucial for financial institutions as it helps prevent misdirected payments by verifying the identity of the recipient before a payment is made. This process reduces fraud, enhances security, and improves customer satisfaction by ensuring that payments are made to the intended account holder. Without CoP, institutions face increased risks of fraudulent transactions and potential reputational damage.

How does Raidiam’s technology enhance the Confirmation of Payee process?

Raidiam’s Trust Frameworks and Public Key Infrastructure (PKI) solutions enhance the CoP process by providing a secure, standardised, and efficient way to verify payee identities. Our centralised directory allows for real-time verification of payee details, ensuring that payments are made to the correct recipient. This reduces manual errors, speeds up payment processing, and protects against fraudulent transactions.

Can Raidiam’s solutions integrate with existing payment systems?

Yes, Raidiam’s solutions are designed to seamlessly integrate with existing payment systems. Our technology is flexible and adaptable, allowing it to be easily incorporated into current infrastructure without disrupting operations. This ensures that financial institutions can enhance their CoP processes without significant changes to their existing systems.

Does Raidiam’s Confirmation of Payee solution ensure compliance with regulatory standards?

Raidiam’s CoP solutions are designed to meet regulatory requirements, ensuring compliance with industry standards. By utilising PKI and centralised directories, we simplify the management of regulatory requirements while safeguarding sensitive data exchanges. This ensures that all transactions are conducted within a fully compliant and secure environment.

How does Raidiam support the scalability of Confirmation of Payee processes?

Raidiam’s solutions are highly scalable, supporting financial institutions of any size. Our technology grows with your organisation, ensuring robust security and operational efficiency. Whether you are a small financial institution or a large national bank, Raidiam’s CoP solutions can adapt to meet your evolving needs.

Schedule a meeting

Schedule a meeting with one of our Confirmation of Payee experts to discover how Raidiam can empower your journey.

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