Finseta, a leading international payments and foreign exchange (FX) business, has announced the launch of their new Confirmation of Payee (CoP) service powered by tell.money. This enhanced service is designed to upgrade payment security, reduce the risk of fraud, and ensure the accuracy of transactions.
With the increasing concern over Authorised Push Payment (APP) fraud, which resulted in 252,626 reported cases in 2023, Finseta recognizes the critical importance of providing a solution that safeguards their clients’ financial transactions. CoP offers increased payment security, reduced risk of fraud, and enhanced accuracy by allowing users to verify the payee’s details before completing a transfer.
“We are excited to introduce the Confirmation of Payee service to our clients, as we continue to prioritise their financial security and peace of mind in every transaction,” said James Hickman, CEO at Finseta.
Through a seamless integration with tell.money, Finseta’s clients can now benefit from the robust security features of CoP without the need for additional actions. This service will ensure that payments are directed to the intended recipients promptly and with enhanced security measures.
“We are committed to regulatory compliance and providing our clients with advanced solutions to mitigate the risks associated with online transactions. The launch of the CoP service via tell.money underscores our dedication to ensuring the safety and accuracy of payments made through our platform,” added Hickman.
For more information about the Confirmation of Payee service and how it can benefit clients, please visit Finseta CoP Services at https://finseta.com/confirmation-of-payee/?utm_campaign=Service.
About Finseta:
Finseta PLC is a renowned international payments and foreign exchange (FX) business that specialises in simplifying currency and payment challenges for businesses and high-net-worth individuals (HNWIs). With a commitment to providing exceptional service through an innovative online platform, Finseta PLC aims to streamline international payments and currency management for its diverse client base.
About tell.money:
tell.money (https://www.tell.money) is a market-leading SaaS platform, enabling account providers to join the ecosystem, meet regulatory obligations, and bring new open banking tools to customers. With a wide product range including Dedicated Interface APIs, Confirmation of Payee, Test & Monitoring, and some exciting money management tools, tell.money is the open banking partner of choice for the banking and fintech industry.
If you have any questions or require further details, do not hesitate to contact Finseta PLC at +44 (0) 203 971 4865 or email info@finseta.com.