Banfico, Author at Banfico

VOPCasts

EPC VOP VOPCasts is an initiative where we create podcasts on VOP (VOPCasts) introducing key topics of interest and covering Banfico & external experts’ POV and expertise on those topics that are relevant to all scheme participants. VOP for PISPs Ralf Ohlhausen & Vasile Valcov

EPC VOP – Navigating QWAC Challenges

The EPC API Security Framework mandates PSD2 QWAC certificates for client identification in the Verification of Payee (VOP) scheme. While straightforward in principle, implementation has revealed significant operational challenges. This newsletter outlines key challenges and shares lessons learned to help financial institutions prepare for successful

EPC Verification of Payee (VOP)

Banfico Knowledge Series on EPC Verification of Payee is an initiative where we share market updates and insights into specific areas related to EPC Verification of Payee (VOP) that are relevant to all market participants including banks, PSPs, RVMs and corporates. 1. Channel Integration -

Why Advanced Name Matching is Critical for EPC VOP

The European Payments Council’s (EPC) Verification of Payees (VOP) scheme has introduced new expectations around how Payment Service Providers (PSPs) validate account names before processing payments. While the EPC VOP offers guidelines rather than strict rules, responsibility for the accuracy of matching outcomes rests with

Banfico Invites EPC VOP Direct Participant Banks & PSPs for End-to-End Buddy Testing

As one of the earliest qualified RVMs for the EPC VOP scheme, Banfico is excited to announce that our VOP solution is fully ready for end-to-end testing. We are already collaborating with other RVMs, and now, we’re extending the invitation to direct EPC VOP participants

Banfico is the Industry First Fully Qualified RVM in EPC’s Verification of Payee Scheme

Frankfurt-based fintech becomes the first RVM to complete the comprehensive qualification process ahead of the critical October 2025 deadline FRANKFURT, 10 June 2025 – Banfico, a leading global fintech specialising in account verification solutions, has become the first Routing and/or Verification Mechanism (RVM) to achieve

Introducing VOP Service+ for Service Management & Conformance Validation

Banfico is proud to announce the launch of VOP Service+, our innovative solution designed to optimise service management and enhance conformance validation of your VOP implementations. With 3,500+ PSPs required to go-live by October 2025 under the European Payments Council (EPC) VOP scheme, the payments

EPC VOP Scheme Adherence Wave 1 is Live – Act now

ON 24-Mar-2025, the European Payments Council published the verification of payee scheme adherence process that provides detailed guidelines for participants to join the VOP scheme. The EPC expects a high number of expected adherence requests, and hence, the EPC cannot guarantee to complete the adherence

Banfico’s Verification Of Payee Now Available on Temenos Exchange

Banfico’s Verification Of Payee (VOP) solution aims to help banks in Europe reduce fraud, eliminate mis-directed payments and comply with the EU regulation related to verification of payee (Regulation (EU) 2024/886) LOCATION, Date London, 19-Dec-2024 – Banfico Ltd, a leading provider of Open Banking and

EPC VOP – Customer Communication Essentials

Banks and Payment Service Providers (PSPs) across 20 Eurozone countries are scheduled to implement the Verification of Payee service for their customers in October 2025. Since this service will directly impact all account holders, an effective change management process is essential. This process must include