Banks struggle with payee verification due to inconsistent name formats, typos, and special character variations across financial institutions. Up to 20% of payments fail due to mismatched names, leading to €3B lost annually from failed or misdirected transactions. Manual corrections increase operational costs, while rigid systems cause unnecessary rejections. The new SEPA Instant VoP regulation, mandatory by October 2025, requires banks to verify payees in real time.
Traditional matching methods lead to false positives and compliance risks, making it harder to balance security and user experience. A flexible, AI-powered VoP solution is essential to reduce errors, prevent fraud, and streamline payment operations.
To tackle these challenges, banks need a flexible and adaptive VoP solution that allows them to fine-tune verification settings, optimize matching accuracy, and reduce false positives without compromising security. ImPAI's configurable matching algorithms and threshold settings give banks full control over how payee verification is handled. By adjusting parameters and simulating results, institutions can see the impact of different matching strategies before applying them in live operations.
Our ImPAI VoP solution designed for SEPA Instant compliance, ImPAI VoP gives banks full control over payee verification, reducing errors and improving transaction success rates. With configurable algorithms, real-time validation, and simulation tools, banks can fine-tune their matching logic, reduce false positives, and streamline operations - all in one API-first microservices platform.
Subscribing to ImPAI not only simplifies complex payment processes but also ensures:
Our VoP solution utilizes a multi-layered matching approach to handle name inconsistencies, typographical errors, and formatting variations across financial institutions. Banks can adjust matching sensitivity using predefined settings or fine-tune proprietary algorithms to optimize verification accuracy while maintaining fraud prevention controls.