alseda Pre-Verification of Payee

alseda PreVOP – The Pre-Verification Solution for SEPA VOP (for companies)

(Here: The solution for banks)

Since October 2025, SEPA Credit Transfers (SCT) and SEPA Instant Transfers (SEPA Inst.) within the Eurozone have required “Verification of Payee” (VOP), i.e., a check between the IBAN and the account holder’s name. This involves the payer’s bank contacting the payee’s bank to verify that the payee’s name provided by the payer matches the account holder’s name at the payee’s bank.

Why VOP is now relevant for companies 

Many businesses have recently opted to use the VOP (Verification of Payee) opt-out option, meaning they are not having their bank perform this check. While this may seem like a sensible short-term solution to circumvent the complex and sometimes still somewhat immature VOP processes, it’s important to note that VOP is not yet fully implemented.

Long-Term Strategy: Fraud Prevention Through Validation

In the long term, companies should leverage the opportunity offered by VOP, and thus the verification of IBAN and account holder name, to proactively prevent fraud and erroneous payments. VOP is not only a regulatory requirement but also an effective tool for minimizing risk in payment transactions.

Pre-verification – the better process

Currently, Verification of Payee (VOP) is performed by the primary bank and is therefore only carried out at the end of the payment transaction process. This late check is disadvantageous, as errors in the VOP lead to significant rework costs for companies. Furthermore, critical delays occur in the payment process, which can negatively impact processing times, liquidity management, and payee satisfaction.

The alseda solution – PreVOP

Prevention is cheaper than damage control. For this reason, alseda has developed a solution that – unlike Verification of Payee (VOP) via the bank – validates the account holder’s name with the IBAN not at the end of the payment process, but at its very beginning.

This allows companies, for example, to check whether the bank details provided for the transfer are correct even before an invoice payment is created. Errors and fraud attempts are thus detected early, and the payment process is secured from the outset.

Advantages of the alseda PreVOP solution

• Seamless integration into existing payment processes
• Direct integration into SEPA transfers and instant payments
• No media breaks or additional manual checks required
• Ideal for treasury, ERP, and SAP systems
• Automated checks instead of manual recipient verification
• Fewer queries, corrections, and rework in accounting and treasury
• Long-term cost savings by avoiding:
  • Reversals
  • Legal disputes
  • Internal costs for damage assessment