Approval Workflow and VoP in SEPA Payment Import

Business Value

The import of SEPA payment files (e.g., from treasury systems or payment portals) becomes significantly more secure through approval workflows and Verification of Payee (VoP). Approval processes create an additional control layer before final posting – essential for compliance and risk management. VoP automatically checks whether the payee name matches the specified IBAN and warns of discrepancies – effective protection against fraud and typos. Together, both functions drastically reduce error rates and significantly increase payment transaction security.