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Confirmation of Payee - In


A gateway agnostic API module to accelerate your ability to manage and service inbound Confirmation of Payee requests.

‘CoP API - In’ enables your organisation to adopt Pay.UK standards to receive and respond to CoP requests initiated from third parties via a dedicated and secure API channel. The offering is unique in its ability to deliver an end-to-end solution flexible enough to align with different IT strategies. It combines a set of balanced measures of business readiness, technical delivery and support services which are key to success across all implementation and journey stages.

Solution Overview


Comprising several technical components, each designed to support the underpinning capabilities to not only receive and respond to CoP requests but also accelerate your Open Banking delivery timeline and compliance:


Authorisation Server is responsible for creating a secure perimeter dedicated to third parties. FAPI compliant, it implements the Financial API Security Profile and Dynamic Client Registration as defined by Open Banking Implementation Entity (OBIE) allowing authorised entities to dynamically register and obtain the secure tokens required to consume the Confirmation of Payee API. This component is the central component to all of Open Banking’s Security Framework and is configurable to support scopes AIS, PIS, and CBPII from Open Banking.


Our API Gateway is responsible for exposing APIs within the secure perimeter created by our Authorisation Server. This is achieved by checking and enforcing all API requests to have a valid authorisation issued by the Authorisation Server before allowing them to proceed. The APIs predefined in this solution are Dynamic Client Registration (DCR) and Confirmation of Payee (CoP).


Confirmation of Payee Service is a component responsible for integrating with your Core Banking system via a simple and secure private API. Once data is retrieved the service will apply matching rules to determine a compliant decision back to the requester. The solution deploys a configurable ‘fuzzy logic’ threshold that establishes your acceptance tolerance for matching decisions.


Service Dashboard provides access to your API service metrics and other indicators to support the monitoring of your CoP responses.

Key Benefits


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Reduce Fraud

CoP introduces a significant hurdle for fraudsters and gives effective warning to customers about the risks of sending payments to an account where the name does not match.

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An Open Banking Enabler

Our Authorisation Server implements the Financial API Security Profile and Dynamic Client Registration as defined by the Open Banking Implementation Entity (OBIE) allowing authorised third parties to dynamically register and obtain secure tokens required to consume CoP and all Open Banking APIs.

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API Gateway

Responsible for exposing APIs within the secure perimeter created by our Authorisation Server.

Differentiators


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Time to Market

An accelerator to reduce delivery timeframes from months to weeks.

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Scale

Achieve high performance and scaling with throttling, prioritisation, caching, and routing. Dynamically scale up or down as needed.

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Security

Compliant FAPI grade software embedding the security framework required to operate in the Open Banking ecosystem.

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Flexibility

Can be implemented as a SaaS, On-Premise, or Hybrid solution.

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