Confirmation of Payee (CoP)
Confirmation of Payee (CoP) is a UK name-checking service that verifies whether the name on a bank account matches the account number and sort code before a payment is sent. It is designed to cut misdirected payments and authorised push payment (APP) fraud.
When a payer sets up a payment, CoP checks the payee's details against the receiving bank's records and returns a match, close match or no match. It is now widely required across UK payment services.
For lenders, CoP reduces failed disbursements and the risk of paying funds to the wrong account during onboarding and payout.
Credit Canary builds confirmation of payee into one platform for UK lenders, with the data and decisioning behind it.
Confirmation of PayeeSee confirmation of payee in a working platform
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