On October 9, in order to meet the European regulatory requirements of the Instant Payment Regulation, the French banking community affiliated with SEPAmail.eu launched a new service called Verification of Payee (VoP) via the DIAMOND 2 application.
This new solution from SEPAmail.eu, which enhances the trust, security, and transparency of transfers (SCT and SCT Inst), has enabled 157 bank menbers to offer a high-performance service that, from day one, delivered an 82% success rate on verification requests exchanged with its members in France and Europe, before reaching a level of 98%.
DIAMOND 2 in a few key figures:
- 157 banking institutions connected
- 180 million of flows exchanged since launch
- 85% intra-SEPAmail exchanges and 15% extra DIAMOND 2 members
- 98% response rate to beneficiary verification requests
- 80% positive results (MATCH & ALMOST MATCH) confirming the quality of the data exchanged
This successful launch illustrates the commitment of the SEPAmail.eu and STET teams, as well as all the banks in the SEPAmail.eu community and other European members of the EPC's VOP scheme.
A few adjustments were made to interoperability flows (extra-SEPAmail) to round off this very positive overall assessment. No impact was observed on the volume of transfers issued (SCT or SCT Inst), demonstrating the effectiveness of interbank dialogue and the quality of communications between SEPAmail.eu members and their customers.
Discover the fey figures :