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What We Do
Since 1989, Bottomline has been modernizing global business payments with connected solutions for more than 800,000 financial institutions and businesses in 92 countries.
AP Automation AP Automation For Real Estate Payments Hub
Payouts Automation Payments Processing Receivables Automation Payments Hub
Paymode Pay Vendors Receive Payments Partner With Us
Connectivity Services Message Transformation & Enrichment Message Vault Risk Solutions
Connectivity Services Message Transformation & Enrichment Message Vault Payments Verification Payments Verification for Businesses
Global Cash Management Hub Digital Banking
Global Cash Management Hub
Who We Serve
Our Company
Unlocking Efficiency, Security, and Better Customer Experience. Payables and Receivables teams rejoice. Thanks to the introduction of Confirmation of Payee, you can now benefit from bank-grade technology to unlock a host of benefits with digital account verification.
Many businesses might panic when they think about their account verification process. Digital solutions in the market can be riddled with account coverage challenges and delays in receiving timely account data for swift verification checks. Organisations that rely on manual processes may experience additional complexities, inefficiencies, and costs. In both instances, delays in setting up Direct Debits directly impact cash flow, staff resources, and the customer experience.
At Bottomline, we’ve leveraged bank-grade services like Confirmation of Payee (CoP), a name-checking service for banks introduced in 2020, to protect against Authorised Push Payment (APP) fraud and misdirected payments. This can help solve this all-too-common business pain to deliver better efficiency, security, and customer experience.
Receivables teams can ensure that the bank account details provided belong to the named business or individual, giving companies greater confidence that the Direct Debit is being set up by the actual account holder. This helps to lower the risk of an indemnity claim, where the payer can claim back their payment if taken in error or without authorisation.
Payables teams can check and verify that the owner of the bank account where the funds are being paid matches those of the payee, ensuring payments are delivered swiftly and frictionlessly.
The solution is embedded at the point where account details are captured via a simple API (Application Programming Interface), whether that’s via…
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