Confirmation of Payee
for Building Societies and Credit Unions

CoP-Benefits-SurePay-UK-Secure
Integrate CoP seamlessly into your existing systems
CoP-Benefits-SurePay-UK-PSR Compliant

Tailored CoP solutions to suit your needs

Icon-stopwatch-time
Become CoP compliant on time
CoP-Benefits-SurePay-UK-Fraud

Prevent misdirected payments

Download Brochure
natwest.png
Coventry Building Society-2
Yorkshire-2
Skipton-2
Virgin-Money-2
triodos bank
1200px-Atom_Bank_Logo.svg
Logo-HP-NL--18
Logo-HP-NL--01
Ulster_Bank_2023_logo
Logo-HP-NL--03
Coutts logo 2011
Natwest Group - hogere resolutie
Logo-HP-NL--07
Arbuthnot_Latham_logo.svg
Logo-HP-NL--27
Print
BNP-Paribas-Logo
Railsr Logo
Logo-ABN Amro
UK Finance Logo RGB Primary 1
royal bank of scotland
4-Homepage icons-_v copy
Fully PayUK Compliant
4-Homepage icons-_v

98% Coverage UK 

NL-Homepage-surepay-icon-2
Extensive coverage worldwide
4-Homepage-icons-_v-copy-3.png
Banking security standards

How does it work?

With CoP implemented, Building Societies and Credit Unions can verify member account details before deposits are made

  • During the onboarding process, CoP verifies the accuracy of payee details, including the payee's name, account number, sort code and SDR/Roll number.
  • CoP ensures that the payee bank accounts are legitimate and that outgoing payments will be directed to the intended recipient.
  • CoP optimises security and reduces the risk of fraudulent or misdirected deposits, protecting both the Building Society/Credit Union and its members.

Why implement now?

The clock is ticking…

Days
Hours
Minutes
Seconds

With less than one year to go, all Building Societies and Credit Unions must now think seriously about how they’re going to implement a CoP system that conforms with regulatory requirements. As we move towards the October 2024 deadline, there’s a lot of implementation work to be done. This might lead to longer waiting and implementation times. Starting now will help to avoid the impact of this.

“Book a Meeting to start your CoP Journey with us today!”

– Louise Astbury, SurePay

Be Compliant in 6 simple steps

Knowing your CoP needs helps us implement the right solution. Group 2 firms will need to be able to send and respond to CoP requests to and from other banks and PSPs. Book a meeting with us to start your CoP journey.

When you decide to implement our solution, SurePay will inform Pay UK on your behalf. Pay UK is the recognised operator and standards body for the UK’s interbank payment system, and enrolment is mandatory for all firms required to implement CoP.

SurePay’s CoP experts will work with your team to plan out a strategy for your CoP implementation, laying out key timelines and a target implementation date.

Implementation involves the deployment and integration of a SurePay CoP solution with your existing systems and processes.

Once the implementation is complete, the CoP solution is thoroughly tested and evaluated to ensure it meets your CoP requirements.
The final step once everything has been implemented and approved is to go live. Once live, your CoP system will begin sending and responding to CoP requests from other PSPs.

Benefits for Building Societies and Credit Unions

Member experience

  • Prevents Misdirected Payments
  • Onboarding new Members
  • Members not depositing

Trust

  • Positive Reputation
  • Receiving a Match, Close Match
  • CoP Member & Building Society

Protection

  • Prevents Fraud
  • Lowers administrative costs
  • SurePay Authorisation server

Other features of the SurePay CoP solution

Icon-extra feautures--152
Real-time management information

The solution provides real-time, comprehensive insight into all incoming CoP requests, outbound CoP responses and more – accessed through easy-to-use tooling and scheduled reports delivered straight to your inbox.

Add-on-icons-benefits-61.png

Data whitelisting

The CoP solution has specifically designed functionality to support account groups with vulnerable characteristics or accounts with complex structures, safeguarding their privacy whilst maintaining best matching capability.
Icon-extra feautures--154
Flexible data analysis and query management
Dedicated tooling will empower your staff to run their own queries and analyse historic matching responses, while predefined filters enable analysis based on a range of unique identifiers, including account lookup, matching response and timestamp.
Icon-extra feautures--155
Cross border payments
Our solution also checks international bank accounts, ensuring cross border remittances can enjoy the same fraud benefits as domestic payments

What our clients say

"We selected SurePay to support our delivery of CoP, because of their experience in the Dutch market and excellent understanding of complex name matching issues.”
Natwest Group
Natwest Group
“SurePay is well established in the UK and Netherlands -– where we have our Group headquarters -– and has the most advanced offer, a strong Confirmation of Payee solution on the market and an incredibly devoted team. We are confident that this partnership will help us towards achieving our goals and further improve our resilience to fraud.”
Judy Rose, Chief Operating Officer at Triodos Bank
Judy Rose, Chief Operating Officer at Triodos Bank
“We are committed to protecting our customers from fraud and Confirmation of Payee is a valuable tool in achieving that. SurePay have extensive experience in providing Confirmation of Payee solutions, both in the UK and other countries, which is why we chose to work with them to implement this important protection for our customers.”
Fergus Murphy, Chief Customer Experience at Virgin Money
Fergus Murphy, Chief Customer Experience at Virgin Money
"With SurePay's Confirmation of Payee solution Coventry Building Society can help their members have safer and more seamless payment experiences."
Coventry Building Society
Coventry Building Society

Ready to get started?

Download our white paper for Building Societies and Credit Unions
Download Brochure →
Schedule a meeting with us to find out how our solution can benefit your PSP

Book a meeting →

Our clients

  • Follow us
Linkedin

© 2024 SurePay B.V. All rights reserved