UK-based Open Banking specialist Obconnect has delivered a Confirmation of Payee solution for Citibank.
Obconnect is providing Citibank with CoP in the UK, with the aim to enhance security and deliver anti-fraud measures.
Darran Morford, director and co-founder of Obconnect, confirmed on LinkedIn that the service is live, adding that “it’s perfectly aligned with Citibank’s needs and Pay.UK’s standards”.
Simon Lyons, Obconnect’s chief strategy officer, told Open Banking Expo: “At Obconnect we made a decision, we wouldn’t release customers we had won the business of, we would celebrate when they go live.
“We consider delivery of our technology, and the effort level required by our partner banks something to shout about. We have many more live customers coming and we are excited to share them, but when they are live.”
Morford added: “Our team’s efforts have delivered a crucial anti-fraud solution – an important move considering the ongoing growth in the Confirmation of Payee market.
“This collaboration isn’t just about security; it’s about making sure Citibank and its customers are well-protected. And the more banks jump on board, the more robust our financial world becomes.”
“This partnership solidifies our commitment to innovation, trust, and the improvement of security, and I couldn’t be happier,” said Morford.