FxPro, a global financial services provider, has announced a partnership with tell.money to implement Confirmation of Payee (CoP) technology. This new feature will be integrated into BnkPro, the Electronic Money Institution (EMI) under FxPro Group Ltd.

BnkPro Integrates CoP Technology to Improve Transaction Security

The CoP technology aims to enhance transaction security by verifying recipient account details during payments . This measure helps reduce risks associated with misdirected transactions and fraudulent activities. The integration is seen as a step to provide stronger protection against app-based fraud.

“We’re proud to support FxPro in enhancing their client security through our Confirmation of Payee service” David Monty, CEO at tell.money commented.

“We’re delighted to support them in reducing fraud and making transactions safer, reflecting a shared commitment to protecting users in today’s financial landscape”.

BnkPro Rebrands After FCA Authorization

Initially established as Hermex International Limited in 2019, the company was authorized by the UK’s Financial Conduct Authority (FCA ) as an Electronic Money Institution (EMI). Later that year, the payments division of HermexFX was acquired by FairFX Plc, supporting its growth trajectory. In January 2021, the company transitioned to its new identity as BnkPro Ltd.

tell.money Supports FxPro with CoP Integration

BnkPro offers various financial management tools, including multi-currency solutions, instant currency exchanges, and the BnkPro Mastercard. The introduction of CoP aims to enhance the overall security and reliability of their services.

Paolo Broccardo, COO of BnkPro, stated that security is a core focus for their services. He emphasized that tell.money’s expertise in CoP technology supports their efforts to protect clients from fraud. The addition of CoP technology is expected to improve the security of financial operations for BnkPro’s clients.

“Security is a cornerstone of what we deliver to our clients at BnkPro, and tell.money’s expertise in Confirmation of Payee gives us the confidence to combat fraud head-on, ensuring our clients can transact with trust and ease,” said Broccardo.