TechnoXander added to government public sector cloud framework

UK-based Open Banking fintech TechnoXander has joined the UK government’s G-Cloud 14 framework, making its Confirmation of Payee (CoP) services available to public sector organisations.

The G-Cloud 14 framework is a Crown Commercial Service online catalogue for public sector organisations and charities to buy cloud-based computing services from, including hosting, software, cloud support and off-the-shelf, pay-as-you-go solutions.

TechnoXander’s CoP solution is a fully-managed Software-as-a-Service solution that enables payment service providers and financial institutions to meet their CoP obligations.

In a post on LinkedIn, TechnoXander wrote: “As the only Pay.UK-approved aggregator to achieve this milestone, we’re committed to fostering a safer, more secure payment ecosystem while supporting the public sector in combatting fraud and meeting regulatory compliance with ease.”

CoP checks whether the payee name provided for a sort code and account number matches the account holder’s name at the payee bank.

Sonal Bomb, chief executive officer of TechnoXanderpayee bank.

Public sector organisations, including central government, education, health, local authorities, and charities, will get “seamless access” to TechnoXander’s CoP service via the digital marketplace.

Sonal Bomb, co-founder and chief executive officer of TechnoXander, said on LinkedIn: “[The] TechnoXander team is now ready to help public sector organisations with its innovative Confirmation of Payee/Confirmation of Payer product.”

Last month, Pay.UK expanded its name-checking service, as part of efforts to strengthen protection for UK consumers against APP fraud and misdirected payments.

By rolling out CoP to hundreds of additional financial firms, it means that over 99% of all transactions made through Faster Payments and CHAPS are now safeguarded by the anti-fraud measure.

In the first half of 2024 alone, more than £213 million was lost to APP fraud, according to the Payment Systems Regulator.

Further reading: Is the UK ready for a Smart Data economy?