A CoP check can be performed via an API or batch check. When the API is implemented in your corporation’s system, the CoP check is executed real-time. When providing data via a batch check, you will receive the results within a couple of days.

At our end, we can have the API up and running within a day. In reality, we see that the implementation time mostly depends on the customer’s ability to implement and test. In this process we can support the client.

The SurePay CoP check can help your corporation in several ways – our existing customers generally use it to overcome three issues:

1. Be sure who your customer is: implement the CoP check at the onboarding of new customers to ensure the process goes as fluently as possible and to decrease the chances of fraud.
2. Ensure you have the correct payment details: implement the CoP check in your payment system to ensure that your payment or invoice goes to the right person or company.
3. Speed up the process: manual checks on your customer and/or suppliers costs time and resources. Our API solution works instantly and shows in a blink of an eye if the provided name corresponds with the payee name and bank account.
   

Several of our clients applied the CoP service at their onboarding and client accepting process. They recorded a 90% decrease in drop-outs during onboarding and a 80% decrease in fraudulent onboarding.

Example clients: The Netherlands’ largest insurance corporations and Atom Bank in the UK.

Many of our clients make use of the CoP service to reduce the percentage of uncollectible invoices. Our clients saw a decrease of 50% in overall uncollectible invoices as a result of implementing our CoP solution.

Example clients: We performed millions of CoP checks for the Dutch government and HMRC for the Covid-19 payouts.

SurePay is able to provide the CoP check across borders. This service is available in all countries where SurePay is currently active. For more information please fill in the contact form