Responder

VOP Responder service (aka VOP Inbound) is the capability that enables a PSP to receive and respond to verification requests from other PSPs, acting as the responding party in the VOP ecosystem by validating payee details against their customer database for incoming verification queries

External PSPs use the VOP Responder Account Verification API endpoint (conformant with EPC VOP API Specification and API Security Framework) to send requests to the VOP Responder service

Account Data Integration Options

Banfico VOP responder support multiple options to access the account data that is required to perform the name matching:

• API endpoint exposed by the PSP that is used real-time when Banfico responder receives a request from another PSP
• Reuse an existing open banking API
• Develop a new API based on Banfico’s proprietary Account details API specification that ensures an optimal name matching results
• Upload and manage Required Account Data to Banfico platform
• Using “Account Management API” endpoint(s) integration
• Manual upload of bulk account data using the portal
• Bulk account data upload using SFTP

Banfico Responder Service offers the following additional features that supplement the mandatory inbound account verification service. Most of these services can be availed using a white labelled portal or through API integration:

• Responder Data Services
• Account Management
• Customisable Name Matching Algorithm for specific schemes
• Abnormal Activity Alerts
• Participant Management
• User Management with RBAC (role based access control) support