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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
