NatWest, a retail and commercial bank in the United Kingdom, has announced the release of a new API to support Confirmation of Payee (CoP) for its commercial partners. This new offering is intended to reduce potential scams and mediate customer error.
NatWest Group’s Head of Commercial Payments, Gaurav Gaur, had this to say about the value of this new API:
“Confirmation of Payee has been a game-changing innovation in the battle against fraud and scams in the UK, and today we’re delighted to launch our own API that will allow commercial customers to implement this functionality into their own systems. Not only will this detect fraudulent and misdirected payments, but CoP is also proven to reduce operating costs and improve the digital journey for customers.”
