Banks committed to deliver Confirmation of Payee extended capability by end 2021
In response to a recent call for views from the Payment Systems Regulator (PSR), the SD10 firms (a group of the major banks: Lloyds Banking Group, Bank of Scotland, Barclays, HSBC, NatWest, Nationwide and Santander who were initially directed by the regulator to introduce Confirmation of Payee) have written to the PSR to provide a public commitment to deliver the necessary Confirmation of Payee role profile by the end of this year.
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