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] Group 1: Company Overview - XBP Europe is a pan-European integrator of bills, payments, and related solutions, serving over 2,000 clients across various sectors including banking, healthcare, and utilities [7] - The company has a physical presence in 15 countries with 32 locations and employs approximately 1,500 individuals [7] Group 2: VOP Services - The VOP regulations require payment service providers in the Eurozone to comply by October 5, 2025, aiming to reduce annual losses of around $120 billion from 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] Group 3: Market Position and Experience - XBP Europe has nearly 30 years of experience in account name verification and was among the first to implement the UK's equivalent service, Confirmation of Payee (CoP) [4][5] - The company supports over 400 banks for account name verification and is positioned to enable Eurozone banks to deploy VOP services rapidly [5] Group 4: Future Innovations - The company is focused on further innovations beyond VOP, including broader data sharing initiatives to further mitigate errors and payment fraud [6]
XBP Europe's AI-enabled Verification of Payee (VOP) Solution Simplifies VOP Onboarding for Banks in Europe