Belgian authorities select SurePay for payee verification procedures
In a significant move for the Belgian banking industry, the Centre for Exchange and Clearing has selected SurePay to provide Confirmation of Payee (CoP) technology to domestic banks in Belgium. The partnership, a result of a rigorous open tender process conducted in collaboration with the Federation of the Belgian Financial Sector, marks a significant step forward for Belgium's banking sector.
Based in the Netherlands, SurePay has been at the forefront of the industry since 2016, serving over 100 banks across the UK and the Netherlands with Verification of Payee services. The company, renowned for its expertise in Verification of Payee, conducts over 1.5 billion checks annually, making it a trusted name in the financial sector.
David-Jan Janse, the CEO of SurePay, expressed his gratitude at being chosen by Belgian banks. He stated, "We are thrilled to be partnering with Belgian banks to bring our advanced verification technology to their payment processes. This partnership underscores our commitment to enhancing security and efficiency in financial transactions, both domestically and internationally."
The selection of SurePay was significantly influenced by its seamless integration with Swift PreValidation, a global financial messaging service. This integration will enable Belgian banks to streamline their payment processes while maintaining the highest levels of security.
For Belgian banks, this partnership opens up opportunities to extend their Verification of Payee capabilities, providing an additional layer of security for their customers. Moreover, it allows multinational clients of SurePay to expand their Verification of Payee services to Belgium, further strengthening the company's network.
With this partnership, Belgian banks can now reduce the risk of fraud and misdirected payments, improving the overall reliability of their payment services. This aligns with increasing regulatory emphasis on secure payment initiatives, ensuring that Belgian banks remain compliant and protect their customers effectively.
In addition, subcontractors in Belgium who perform monitoring, filtering, and verification activities related to this process will also benefit from SurePay's technology.
The partnership between Belgian banks and SurePay ushers in a new era of enhanced security and efficiency in Belgian financial transactions. As a result, customers can expect smoother, safer, and more reliable payment services, contributing to the growth and development of the Belgian banking sector.
[1] SurePay selected to provide Confirmation of Payee technology to Belgian banks [2] SurePay expands its Verification of Payee service to Belgium [3] SurePay's high-security API infrastructure: an overview [4] SurePay's impact on the Belgian banking sector [5] Belgian banks' compliance and customer protection measures enhanced with SurePay's technology
- The Centre for Exchange and Clearing has chosen SurePay to deliver Confirmation of Payee technology to domestic banks in Belgium, marking a substantial advancement in Belgium's banking sector.
- With SurePay's selection, the company extends its Verification of Payee services to Belgium, offering Belgian banks an additional layer of security for their customers.
- Seamless integration with Swift PreValidation highlights SurePay's high-security API infrastructure, enabling Belgian banks to streamline their payment processes while maintaining top-tier security.
- The partnership between Belgian banks and SurePay signifies a new era of enhanced security and efficiency in Belgian financial transactions, contributing to the growth and development of the sector and enabling customers to benefit from smoother, safer, and more reliable payment services.
