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our Whitepapers

By completing the form below, you will be able to download our 2 whitepapers:

• The ultimate strater's guide to Verification of Payee

• Corporate Verification of Payee Whitepaper

Businesses, ranging from the smallest of startups to global stock-listed corporations, have been suffering the consequences of being targeted by fraudsters. One of the key risks accounts payable departments face is invoice fraud: a type of scam that aims to convince a business to pay into a bank account controlled by the fraudster by issuing fake invoices or by manipulating the business into modifying their supplier reference data through social engineering.

It is therefore no surprise that the Instant Payments Regulation included an obligation for payment service providers to provide a Verification of Payee on corporate payments. This is no trivial task, as payment service providers must weight the additional friction this introduces to straight through payment processing for corporates against the significant risk reduction achieved through the service.

In this whitepaper, Streammind explores the ins and outs of Corporate Verification of Payee, looking at the legislative context, expectations of corporates, design options for payment service providers, and the ongoing standardisation initiatives.