Validate Your
What is VOP Verify?
VOP Verify lets you test and validate your VOP environment and matching engine.
It gives you full visibility of how your VOP environment and matching engine work.
It helps ensure alignment with European Payments Council (EPC) matching recommendations.
Use it to verify the accuracy of your own VOP implementation, vendor solutions, or Routing and Verification Mechanisms.
Have confidence that your VOP engine matches names correctly and returns the right names in the right circumstances for the right accounts.
Why Choose VOP Verify?
VOP Verify is a powerful tool designed to help banks and payment service providers (PSPs) meet the growing demand for Verification of Payee (VOP) services. With the new Instant Payments Regulation (IPR), financial institutions are obligated to allow other institutions to verify the name associated with the IBAN of their accounts. VOP Verify ensures your systems perform accurately and comply with industry standards, allowing you to confidently manage this obligation.
Accurate Matching
Confirm that your VOP environment is correctly matching names to account details.
Test Vendor Systems
Validate third-party solutions and Routing and Verification Mechanisms (RVMs) to ensure they align with your standards and the European Payments Council (EPC) recommendations.
Actionable Insights
Gain feedback and reports on the performance of your matching engine, helping you identify and resolve potential issues quickly.
IPR Requirements
Meet your legal obligations under the Instant Payments Regulation (IPR) by ensuring your institution is able to provide accurate Verification of Payee services.
Align to Standards
Ensure your system meets EPC matching recommendations, reducing the risk of errors and issues. Align with industry best practice.
3 Simple Steps
VOP Verify evaluates your Verification of Payee environment and matching engine in 3 simple steps.
1. Account Generation
Creates representative, synthetic, language specific names, and identifiers to test matching performance of personal and company accounts.
Or use your own data.
2. Request Creation
VOP requests are synthesised using a library of scenarios that create account and name variations.
These are sent to the VOP system under evaluation to characterise the VOP matching performance.
3. Response Evaluation
VOP response match results are evaluated to ensure the correct match outcome and that the right account names are returned.
Evaluation results are provided in a comprehensive report.
VOP Verify Features
VOP Verify offers a robust set of features designed to help you validate and optimize your Verification of Payee (VOP) environment, supporting regulatory compliance and improving performance.
- Rapid Evaluation: Instantly verify the accuracy of name matching results, ensuring the reliability of your VOP system.
- Standards Alignment: Ensure your Verification of Payee (VOP) system aligns with the European Payments Council (EPC) recommendations to meet the new Instant Payments Regulation (IPR) standards.
- Comprehensive Reporting: Get detailed reports on name matching accuracy, system performance, and compliance status, with customizable filters and export options for further analysis.
- Vendor System Testing: Use VOP Verify to assess third-party solutions or Routing and Verification Mechanisms (RVMs), ensuring they meet your organization’s needs and industry regulations.
- Easy Integration: Seamlessly integrate VOP Verify with your existing systems using our flexible APIs and connectors, allowing for a smooth implementation process.
- User-Friendly Dashboard: A simple, intuitive interface that gives you an overview of your VOP environment’s performance, compliance status, and any discrepancies that need immediate attention.
Try VOP Verify Today
Follow the link below to register and setup a free account to get started. Registration is easy.
Then read the 3 Simple Steps to understand how to evaluate your VOP Environment and Matching Engine.
Get in Touch
If you have questions, need a demo, or want to discuss how VOP Verify can help you, we’re here to help.