Banfico and adorsys Announce Strategic Partnership to Deliver Verification of Payee (VoP) Services Across Europe

Banfico, a leading Verification of Payee solutions provider, and adorsys, a renowned IT architecture firm, are excited to announce their strategic partnership aimed at revolutionising the Verification of Payee (VoP) services across Europe. This collaboration combines Banfico’s expertise in technical financial solutions with adorsys’ deep knowledge of IT architecture to provide a comprehensive, secure, and innovative VoP service to banks and financial institutions.

Enhancing Security and Reducing Fraud
In an era where digital transactions are increasingly common, ensuring that payments reach their intended recipients has never been more crucial. Verification of Payee (VoP) and its counterpart, Confirmation of Payee (CoP), provide business and personal customers with greater assurance when sending payments, helping to prevent accidental or misdirected payments and protecting against fraud, particularly Authorised Push Payment (APP) scams.

Banfico’s proven track record in delivering Confirmation of Payee in the UK  makes it an ideal partner to drive the implementation of VoP services for the European market.

The company’s deep expertise in building trust framework between PSPs, offering centralised & decentralised CoP and VOP solutions, eIDAS certificate management and name-matching algorithms position them as the leader in the Verification of Payee domain.

Why This Partnership Matters
This partnership will leverage adorsys’ expertise as IT and information architects to ensure that the VoP service is not only robust and secure but also adaptable to the rapidly evolving regulatory environment.

Known for creating inspiring and secure IT solutions in highly regulated industries, adorsys brings a wealth of experience to the table, ensuring that the partnership will deliver top-tier services to clients across Europe.

Together, Banfico and adorsys are committed to providing a seamless and secure VoP service that will help banks and FinTech’s across Europe protect their customers from fraud and errors in payments. With a shared focus on innovation, security, and compliance, the partnership will set a new standard in the industry for payment verification services.

About Banfico
Founded in 2017, Banfico is a niche provider of Account Verification Services and Open Banking solutions, delivering state-of-the-art services in identity & access management, Trust framework, API management, regulatory compliance, and payments. With a global presence and a team of experts with vast experience in financial services, Banfico is dedicated to expanding its innovative solutions to new markets.

About adorsys
adorsys is a leading boutique group of IT architects specializing in crafting secure and cutting-edge IT solutions for highly regulated environments. They have been serving banks in mainland Europe for more than 18 years. With a commitment to excellence and a reputation as a trusted sparring partner for management, adorsys consistently delivers IT solutions that meet the highest standards of security and innovation.

For more information, please contact: vop@adorsys.com

This partnership is poised to redefine how payment verification services are implemented, ensuring greater security and trust for financial transactions across Europe.

Contact:

Nathalia Pinesi
Head of Demand Generation 

adorsys Ireland Ltd. 
+353 086 201 4242
nathalia.pinesi@adorsys.com
www.adorsys.com 

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