After a thorough procurement process, SurePay was selected as the bank’s CoP partner. A critical factor in SurePay’s selection was its successful rollout of a similar service in the Netherlands four years ago. SurePay’s Dutch banking and corporate customers integrated the solution and saw a step change in fraud prevention in the payments space. Of particular interest to NatWest in its decision-making process was that Dutch adopters reported an 81% drop in fraudulent payments and a 67% drop in misdirected payments.
Critically, SurePay has improved the system through the pioneering use of algorithms to check and track payments. It was that aspect, among several others, that convinced NatWest that working with partners like SurePay offered a way forward into a future of further digital disruption.
SurePay's experience in the past four years has been instructive: rolling out CoP through the Dutch banking system allowed the company to improve its algorithm, tweaking and improving the system to a point where it is now the best-in-class solution and fit for a new, regulated and competitive market in the UK.
"We selected SurePay to support our delivery of CoP, because of their experience in the Dutch market and excellent understanding of complex name matching issues.”
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