Core Insights - XBP Europe Holdings, Inc. has been registered with the European Payments Council as a vendor of Verification of Payee (VOP) services, positioning the company to assist organizations in the Eurozone with compliance to new instant payment regulations [1][2] - The VOP regulations, effective by October 5, 2025, aim to reduce annual losses in the payments industry, which amount to approximately $120 billion due to erroneous payments and fraud [2] - XBP Europe's cloud-based VOP solution is distinguished in the market, utilizing deterministic AI technologies to enhance accuracy in verifying payee accounts, thereby minimizing false positives and negatives [3][4] Company Overview - XBP Europe has nearly 30 years of experience in account name verification and was an early adopter of the UK's equivalent service, Confirmation of Payee (CoP), supporting over 400 banks [4][5] - The company operates across 15 countries with a workforce of approximately 1,500 individuals, providing services to over 2,000 clients in various sectors including banking, healthcare, and utilities [7] - XBP Europe aims to facilitate digital transformation and improve market liquidity by expediting payments, while also promoting sustainable business practices [7]
XBP Europe's AI-enabled Verification of Payee (VOP) Solution Simplifies VOP Onboarding for Banks in Europe