Latest news with #KnowYourPayee
Fintech News ME
2 days ago
- Business
- Fintech News ME
Emirates NBD Partners with iPiD for Real-Time Cross-Border Payee Verification
Emirates NBD has entered into a partnership with iPiD, a Singapore-based provider of Know Your Payee (KYP) validation services. The collaboration aims to enhance the bank's cross-border payment processes by enabling real-time beneficiary validation. Through the integration of iPiD's technology, customers will be able to verify payee names, IBANs, and account numbers before initiating a payment. This is expected to reduce the risk of fraud, prevent transaction errors caused by incorrect details, and improve overall efficiency. The move is part of Emirates NBD's wider efforts to strengthen its fraud prevention measures and expand its capacity for payee verification across international markets. Anith Daniel, Group Head of Transaction Banking Services at Emirates NBD, said: 'At Emirates NBD we are committed to delivering an exceptional digital experience for our customers, underpinned by robust security and trust. Our partnership with iPiD, bringing global payee verification capabilities to enhance cross-border payments, reinforces this commitment. Together, we are ensuring safer, more efficient digital payments for our customers, domestically or across borders.' Damien Dagauquier, CEO and Co-founder of iPiD, added: 'With our advanced API and validation capabilities, we are empowering institutions like Emirates NBD to proactively combat fraud and deliver seamless payment experiences.'
7 days ago
- Business
Emirates NBD Partners with iPiD for Secure Global Payee Verification
Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has announced its partnership with iPiD, a global Know Your Payee (KYP) validation provider. The collaboration will enable Emirates NBD to provide real-time beneficiary validation for cross-border payments. With this solution, customers can verify payee names, IBANs, and account numbers in real time, before a payment is made. This will help reduce fraud, prevent transaction failures due to inaccurate details, and boost efficiency. By integrating iPiD's solution, Emirates NBD strengthens its fraud prevention strategy while laying the groundwork for scalable payee verification across global markets. This collaboration underscores Emirates NBD's leadership in embracing innovative and advanced technologies to offer a safer banking experience. Anith Daniel, Group Head of Transaction Banking Services at Emirates NBD, said: At Emirates NBD we are committed to delivering an exceptional digital experience for our customers, underpinned by robust security and trust. Our partnership with iPiD – bringing global payee verification capabilities to enhance cross-border payments– reinforces this commitment. Together, we are ensuring safer, more efficient digital payments for our customers, domestically or across borders. Damien Dagauquier, CEO & Co-founder at iPiD, said: Our partnership with Emirates NBD marks a significant milestone in our mission to make global payments simpler and safer for everyone. With our advanced API and validation capabilities, we are empowering institutions like Emirates NBD to proactively combat fraud and deliver seamless payment experiences. News Source: Burson Communications
Zawya
30-04-2025
- Business
- Zawya
Alfardan Exchange partners with iPiD to launch Qatar's first real-time payee verification service
Qatar - By integrating iPiD Validate, Alfardan Exchange is pioneering a new era of secure, transparent, and fraud-resistant cross-border transfers, setting a new standard for Qatar's exchange industry. Alfardan Exchange, a trusted and leading name in the field of exchange, financial transfers and precious metals in Qatar, has partnered with iPiD to launch the first real-time beneficiary validation solution in the exchange industry in Qatar. By integrating iPiD Validate, Alfardan Exchange is pioneering a new era of secure, transparent, and fraud-resistant cross-border transfers, setting a new standard for Qatar's exchange industry. Through iPiD's global API solution, Alfardan Exchange can now verify payee names and account numbers in real time, before a payment is sent. This advanced Know Your Payee (KYP) solution helps reduce fraud, prevent transaction failures, and deliver peace-of-mind to clients sending money abroad. Bashar al-Waqfi, CEO of Alfardan Exchange, stated: 'Through our partnership with iPiD, we aim to offer a new generation of security and assurance to our clients' remittance experience. 'As the first company in Qatar to launch an instant beneficiary validation service, we take pride in leading the adoption of innovations that bring trust, transparency, and efficiency to every transaction.' He added: 'I would like to extend special thanks to the Qatar Central Bank for its ongoing support of the exchange sector in the country and for issuing regulations that encourage improved service quality and innovation.' Damien Dugauquier, CEO and co-founder of iPiD, added: 'This partnership is a bold step forward for Qatar's payments ecosystem. Alfardan Exchange's leadership in embracing real-time payee verification reflects a shared commitment to building trust, ensuring compliance, and protecting clients across borders. We're proud to support their journey with the most comprehensive verification network globally.' The integration initiative marks a significant milestone for the exchange sector in Qatar. It is currently the only service of its kind available in the country, underscoring Alfardan Exchange's leadership in adopting cutting-edge fintech solutions to simplify transactions and enhance the client's experience. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Doha
