Allica Bank adopts SurePay’s Confirmation of Payee solution

By Gloria Methri

UK FinTech Allica Bank has implemented SurePay’s Confirmation of Payee solution to protect consumers against fraud and misdirected online payments. CoP is designed to help customers avoid sending payments to the wrong account through fraud or human error and verifies the recipient’s details before payments are made.

Allica Bank, a business bank dedicated to serving businesses with seamless technology and human support, wanted to specialise in CoP and provide their customers with the best possible solution.

SurePay, the inventor of Confirmation of Payee is the largest vendor in the UK and operates in the Netherlands, France, and Italy. As many as 170 million accounts can be checked by SurePay in these countries already via one API.

With its experience from checking payments in the Netherlands, UK, France, Italy, and SWIFT, SurePay is looking to help other European countries and banks in implementing a Confirmation of Payee solution.

David-Jan Janse, CEO of SurePay, said, “We are extremely proud that Allica Bank has chosen our Confirmation of Payee solution. This is a strong endorsement of the innovative technology and superior service that SurePay offers. We look forward to working closely with Allica Bank to provide their customers with the highest level of protection against payment fraud.”

Ravneet Shah, Chief Technology Officer at Allica Bank, added, “We are delighted to be partnering with SurePay as Allica continues to scale. Our goal is to provide the best experience for our business customers and retail savers and have the highest level of protection against fraud and misdirection. CoP is an invaluable tool for customers, giving them further assurance that their payments will reach their intended recipient.”