EPC-Compliant VoP Software Solution
StreamMind
StreamMind deploys
verification of payee software solutions to banks and businesses
StreamMind is an expert in beneficiary verification technologies, with eight years of experience deploying bank account verification systems for banks and their clients across Europe.
EPC and StreamMind: A collaboration to Revolutionize Verification Of Payee (VOP)
The European Payments Council (EPC) is collaborating with StreamMind to launch the API Reference Toolbox (ART) platform dedicated to Verification of Payee (VOP). This initiative aims to help Payment Service Providers (PSPs) to meet the regulatory requirements of instant payments, ensuring pre-verification of IBAN names prior to payment authorization.
Designs and deploys technologies capable of covering all banks
StreamMind deploys various VoP software solutions for international organizations, banks of all sizes, and their corporate clients. Numerous banks, from large banking groups to smaller ones, have been using StreamMind's VoP software solutions since 2016.
StreamMind has also developed and deployed a software system that ensures full interoperability of VoP services between international system managers or between banks directly connected via point-to-point connections.
This VoP software solution is in production and provides users with inter-compatibility between heterogeneous VoP systems at all levels of exchange, such as communication protocols, exchange formats, data, operational rules and algorithms with differences.
Dealprudence VoP Solution Deployment
StreamMind Dealprudence’s VoP solution, is ready to be deployed at RVMs or banks, it incorporates the latest EPC specifications (VoP Rulebook, API specs,…).
Dealprudence sofware solution is available through framework API solution for RVMs, Banks and PSPs, and Corporate portal solution for corporate customers.
The full compliant software solution with VoP scheme rulebook, launched by the European Payment Council (EPC)
Dealprudence is the StreamMind’s innovative software solution fully compliant with the last Verification of Payee (VoP) scheme rulebook, launched by the European Payment Council (EPC) and developed to support payment service providers (PSPs) in the Single Euro Payments Area (SEPA) that will be required to comply with legal obligations on the Verification of a Payee in the case of credit transfers as outlined in the proposed EU Instant Payments Regulation (IPR) amending the SEPA Regulation.
StreamMind
Key operational features
The Requester service integrates the following features:
- Acquisition of VoP requests from entities (individual, bulk, and remittance functionalities)
- Processing of VoP requests and their responses
- Sending VoP requests to RVMs, PSPs, or banks in point-to-point connections
The Responder service primarily covers:
- Management of account databases
- Processing of DDD and RDDD
- Processing of DDV and RDDV
The WebUI administration and flow monitoring service integrates the following features:
- Real-time consultation and monitoring of exchanged flows
- Real-time tracking of consolidated and externalized account databases
- Management of rights, profiles, and users
- Configuration of external connectors
- Provision of customized statistics
- Monitoring and alert management
The Unlimited business rules:
- Each company has the ability to customize its business rules
- Banks can offer highly tailored interfaces to each of their corporate clients
- No special technical adaptation is required for the use of Dealprudence, either for banks or their corporate clients
StreamMind
Dashboard screenshot
Key technical
features
Dealprudence can be deployed in either SaaS mode or On-Premise (on-site), allowing clients to choose the solution that best fits their operational needs and technical requirements.
Dealprudence is an advanced technology due to its flexibility for rapid adaptation to banking production requirements, robustness ensuring high availability, modularity for easy addition or updating of features without impacting existing operations, performance guaranteeing high processing capacity, and security to protect data and transactions.
Dealprudence offers multiple deployment modes, including server mode (virtual or physical) and container mode (Kubernetes, Openshift, GKE, Amazon EKS, AKS), enabling adaptation to the specific constraints and preferences of the existing infrastructure, whether it is a traditional installation or a deployment in a container environment.
Dealprudence is equipped with an innovative and powerful Artificial Intelligence engine that applies to three main areas: a self-learning algorithm based on Deep Learning via neural networks, automatic balancing of VoP processing with automatic allocation of machine resources, and decision support for the benefit of the user.
StreamMind
Key benefits
The future awaits
got a project? let's talk
