Global financial services provider FxPro has partnered with tell.money to implement Confirmation of Payee to enhance security in the fight against authorised push payment (APP) fraud.
Clients of BnkPro, which is an electronic money institution under the FxPro Group, will benefit from greater protection against APP fraud and unauthorised transactions.
Its suite of financial management tools include multi-currency solutions, instant currency exchanges, and BnkPro Mastercard, providing clients with an everyday spending tool, as well as access to thousands of stocks and exchange-traded funds.
Tell.money’s CoP service validates the recipient’s account details before payment is sent, thereby reducing the risk of misdirected transactions and fraudulent activity.
“Security is a cornerstone of what we deliver to our clients at BnkPro, and tell.money’s expertise in Confirmation of Payee gives us the confidence to combat fraud head-on, ensuring our clients can transact with trust and ease,” said Paolo Broccardo, chief operating officer at BnkPro.
“This partnership reflects our dedication to providing secure, efficient, and innovative solutions for managing wealth.”
David Monty, chief executive officer of tell.money, added: “We’re proud to support FxPro in enhancing their client security through our Confirmation of Payee service.
“We’re delighted to support them in reducing fraud and making transactions safer, reflecting a shared commitment to protecting users in today’s financial landscape.”
Towards the end of last year, tell.money formed partnerships with Monese and Enfuce, respectively.
Its partnership with Finland-based card issuer Enfuce will enable the delivery of PSD2-compliant services for their customers.
Meanwhile, mobile money app Monese selected tell.money as its Open Banking gateway provider.
