iPiD, the leading provider of Know-Your-Payee (KYP) solutions, is proud to announce its partnership with iBanFirst.
As a new standard for international transactions, iBanFirst has integrated iPiD’s core KYP solution (iPiD Node) to enable Confirmation of Payee (CoP) in the UK and go live with Verification of Payee (VoP) in the EU, ahead of regulatory timelines. iBanFirst will also incorporate payee verification into cross-border payments, facilitated by iPiD Validate, hence accomplishing a comprehensive global KYP solution and setting a new standard in payment security and customer experience.
iBanFirst selected iPiD’s cutting-edge solution for its ability to deliver a comprehensive, all-in-one approach to payment validation. Key factors influencing their decision include the unified platform, which consolidates CoP, VoP, and cross-border payment validation, eliminating the need for multiple integrations and reducing operational complexity, as well as iPiD’s proven KYP expertise, which enhances security and ensures compliance with the latest regulatory standards.
This partnership highlights the advantages of comprehensive Global Payee Verification solutions, which simplify compliance, enhance customer experience, and reduce fraud risks.
"We are thrilled to partner with iBanFirst to bring our innovative payment validation solutions to the forefront of the European market and beyond. This collaboration underscores our shared vision of delivering secure, efficient, and customer-centric payment solutions," said Alain Raes, Founding Partner & Chief Commercial Offer at iPiD.
"Our partnership with iPiD enables us to maintain our technological lead in the market by implementing cutting-edge payment validation technologies. This aligns perfectly with our mission to deliver unparalleled security for our clients without compromising the customer experience," said Julien Molez, Chief Operations Officer at iBanFirst.