SurePay's solutions available on Temenos Exchange

By joining Temenos and making its solutions available on the latter’s partner ecosystem, SurePay aims to enable banks to deploy its service on top of their Temenos core banking system. Through this, financial institutions can access Verification of Payee, Confirmation of Payee, and SWIFT Beneficiary Account Validation (BAV) via Temenos Exchange leverage the SurePay API. The company’s solution is developed to minimise impersonation fraud, authorised push payment (APP) scams, and misdirected payments, with it being set to increase the certainty that payments are sent to and received by the intended account holder. Additionally, the solution focuses on offering a secure and convenient payment experience for customers, while also ensuring regulatory compliance for financial institutions. The availability of SurePay’s APIs on Temenos Exchange aims to allow banks to integrate a CoP and VoP solution into their existing systems more efficiently, in a bid to protect their customers from fraudulent attempts.

Furthermore, Temenos’ partner ecosystem intends to provide pre-integrated and approved fintech solutions that can be deployed on top of its open platform for composable banking. This enables banks to accelerate the creation of new financial services, while also minimising the costs of development. According to Temenos’ officials, the ecosystem is set to act as an accelerator for fintech and software creators, supporting them in developing, validating, and monetising new banking solutions. The current integration enables SurePay to have its solutions accessible to banks globally that leverage Temenos’ platform.

Representatives from SurePay underlined that the company is committed to protecting both its clients and their customers against the increasing threat of fraud globally, both domestically and cross-border. With its operations started in 2016 in the Netherlands, SurePay provides VoP and CoP solutions that its set to deliver increased assurance that payments are directed towards the intended recipient. Currently, the company is connected to more than 100 banks in Europe and the UK and several organisations.