Bottomline Technologies, Inc. announced the NatWest Group has adopted Bottomline's Confirmation of Payee (CoP) solution to service their Agency Institutions in the fight against authorised push payment fraud (APP) across the UK. Authorised Push Payment (APP) fraud has grown considerably in the UK financial services sector and is now considered by Pay.UK to be a material risk on the reputation of the Faster Payment Scheme (FPS). This concern comes at a time where the limit for individual FPS transactions has recently risen from £250,000 to £1 million.

In a bid to drive down APP fraud, UK Finance introduced Confirmation of Payee. This new fraud prevention service allows customers of participating Banks, Building Societies and Credit Unions to double-check, ahead of making a payment, that the account holder's name matches the owner of the bank account number.