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  • calender-icon Event
  • Banking & Payments
  • Posted: 24 Jan 2024

Confirmation of Payee – Countdown to October 2024 Webinar

29
Feb
2024

  • Calender-Icon Time: 15:00 - 16:00
  • Location-Icon Location: Webinar
  • Admin-Icon Organised By: Bottomline
  • Currency-Icon Free to attend

A free webinar hosted by Bottomline

After the peak of APP Fraud losses in 2021, CoP contributed to a 17% reduction in 2022, despite over 100,000 cases amounting to £482 million. However, implementing CoP takes a lot more planning and a longer testing window than many PSPs might think. Building Societies also need to be aware of the ramifications of the Payment Systems Regulator (PSR) Mandatory Reimbursement bill that will also come into force in 2024, which places the responsibility of a fraudulent transaction on both the sending and receiving firms, with them splitting the costs of reimbursement 50:50. 

“The element of scarcity of resource should motivate Group Two to ‘get going’ ASAP. After all, there are only so many CoP vendors and only so many Project Managers at those vendors to manage the implementation". Nick Warner, Project Manager, Cambridge Building Society who went ‘Live’ with CoP in September 2022. 

Group 2 is under pressure to meet the deadline as best practice is to have been in testing for at least six weeks prior to the October deadline. Therefore, this webinar is designed to get PSPs back on track with expert advice from not only Bottomline, PSPs that are already ‘live’ as part of Group 1 and also the architects of the Directive themselves.  

Join this Webinar to hear from Bottomline, one of the leading outsourcing providers for CoP, Pay.UK, The Payment System Regulator and other key industry experts as they discuss:

  • Review of CoP readiness checklist with timelines 
  • What steps can be taken to make up ground if PSPs are behind?
  • The benefits of CoP beyond the mandate
  • What ongoing requirements will there be on you as a Responder and offering a service to your client to make outbound calls?
  • What can we expect from the regulator and industry changes in the future?

agenda.png  Date:
  Thursday, 29 February 2024

sessions.png  Timings:
  15:00 to 16:00

Currency-image.png  Cost:
  Free to attend

Bottomline transform business payments and processes for companies and financial institutions around the world. Obsessed with removing complexity. Automating and digitising all that is possible. Every day.

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