The outbound service provided by or on behalf of payer's PSP that requests validation of the payee's account name and other account information to the payer before they add them as beneficiary or initiate a payment. It provides greater assurance that the payment will reach it’s intended recipient, aiding reputation.
Responder Service
The inbound service provided by or on behalf of payee's PSP that validates and confirms the payee name and account details details to the payer that they are paying the correct payee. Avoid liability by properly informing the payee organisation if there is a match.
United Kingdom
United KingdomRequestor
United KingdomResponder
France
FranceRequestor
FranceResponder
Netherlands
NetherlandsRequestor
Germany
GermanyRequestor
Nordics
NordicsRequestor
NordicsResponder
IN PARTNERSHIP WITH
WHAT’S IN IT
Product Features
Compliance & Accreditation
Regulatory compliant & accreditation ready solution as per respective specifications in all applicable countries.
OpenID FAPI/DCR Conformant
OpenID certified FAPI Conformant authorisation Server with Dynamic Client Registration support.
Cost-Effective
Pricing is based on the usage.
End to End Implementation
We handle core banking integration and support for channels integration.
24 X 7 Support
Enterprise-grade ITSM tool with follow-the-sun model.
Cross Border Account Verification
Supports cross-border account verifications using multiple schemes.
It is used by payment service provides (PSPs) or their internal teams who wish to test or consume Banfico's Account Validation (Confirmation of Payee / IBAN Check) products. We offer two types of products for multiple countries which are "Requestor" (Outbound Account Validation) and "Responder" (Inbound Account Validation)
What is a Requestor and Responder?
Requestor is also called Account Validation Outbound Service. It's purpose is to send request to payee bank while performing name checks. Responder is also called Account Validation Inbound Service. It's purpose is to compare the payee details held in the bank database with the details received from the requestor. The result of the name matching is sent back to the requestor using "Global Name Match Result" and various "Reason Codes".
What is meant by Internal and External developers?
Internal Developers are the PSP's internal team who can consume all the API's exposed in the CoP Portal its operations team.
External Developers are the participants who can onboard using DCR registration and consume CoP Inbound API. In the lower environments we provide manual registration for testing purposes.