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Verification of Payee (VoP) is a process designed to ensure that payments are sent to the correct bank account. Before the payment is processed, the system verifies whether the name of the payee matches the name of the account holder associated with the provided IBAN number. This reduces the risk of errors and fraud related to incorrectly entered payee information.

VoP is a key component of the European Instant Payment Regulation (IPR) initiative and will be mandatory for all banks and payment institutions within the SEPA zone starting from October 2025. It prevents payments from being sent to incorrect accounts due to human error, reduces the risk of fraudulent payments where attackers attempt to use false bank details, and gives users greater confidence that their money will reach the intended recipient.

Eastnets, partner of Management Data Praha, offers a Verification of Payee (VoP) solution designed for regulatory compliance and real-time protection.

Key Features:

• Real-time payee verification in under 5 seconds

• Go-live in as little as 4 weeks

• Advanced matching to reduce false positives

• Fully managed cloud service with 24/7 support

• Automatic compliance with scheme updates

• Manual VoP checks for single and bulk submission

Learn more on the Eastnets website.

We would like to thank all participants and organizers of this year’s 22nd annual Treasury Forum conference event, which took place on June 4th 2025, at O2 universum in Prague, and to everyone who visited us at the Management Data Praha exhibition stand.

We also hope that the audience of Josef Brtník’s interesting lecture on Global Banking Connectivity and the Latest Developments in Payments took away many practical insights and ideas.

We look forward to meeting you again at the next Treasury Forum in June 2026.

​Participants of the Treasury Forum 2025 conference are invited to the lecture named Global Banking Connectivity & Payments. Josef Brtník, CEO of Management Data Prague, will discuss the following topics:

• Global Banking Connectivity - Project Experience
• Payments - Development and Changes in Legislation and XML Formats (CZ)
• Bank Fee Statement XML camt.086
• Treasury Management System - Project Financing Management

We will also be happy to welcome you personally to the Management Data Prague exhibition stand, where you will have the opportunity to meet and discuss with our experts in the fields of TMS, Payment Factory, MultiCash multibanking, XML and payments.

We look forward to seeing you on June 4, 2025 at the upcoming Treasury Forum 2025 event.

Before the conference, you can visit our virtual stand with a number of interesting videos, or the MD Praha YouTube channel.
 

Management Data Praha has successfully completed the certification process and received the ISO/IEC 27001 certificate. ISO/IEC 27001 certification means that an organization has implemented a system for managing risks related to the security of data owned or handled by it, and that this system respects all the best practices and principles enshrined in this international standard.

With increasing cybercrime and constantly emerging new threats, it can seem difficult or even impossible to manage cyber risks.

The ISO/IEC 27001 standard is the most widely recognized standard for information security management systems (ISMS) globally and defines the requirements that an ISMS must meet. It provides guidance to companies of all sizes and sectors on how to create, implement, maintain and continually improve an information security management system. ISO/IEC 27001 helps organizations to be aware of risks and proactively identify and address vulnerabilities, while supporting a wide approach to information security: examining people, policies and technology. An information security management system implemented according to this standard is a tool for risk management, cyber resilience and operational excellence.

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Eastnets, a Management Data Prague partner and a global leader in compliance and payments solutions, announces that it has met the requirements of the EU Digital Operational Resilience Act (DORA) and is ensuring readiness ahead of its implementation on January 17, 2025.

DORA introduces mandatory standards to strengthen cybersecurity and operational resilience across the financial services industry, impacting both financial institutions and their third-party technology providers. The regulation requires compliance with strict measures, including risk assessment, business continuity and third-party oversight.

Eastnets’ timely compliance with DORA strengthens its position as a trusted partner within the financial ecosystem. This achievement enhances its reputation in Europe and globally, and provides customers with the confidence that they are working with a provider committed to the highest standards of digital resilience.

As DORA sets new standards for third-party risk management and ICT oversight, SWIFT certified service bureaux in the Americas and the UAE provide a secure cloud platform designed to reduce operational overhead, ensure compliance and scale easily to meet evolving regulations.

Learn more here.

About Eastnets

Eastnets is a global provider of compliance and payments solutions for the financial services industry. For over 40 years, Eastnets has helped combat financial crime by helping partners manage risk through sanctions screening, transaction monitoring, analytics and reporting, leading-edge consulting and customer support. With experience, expertise and technology, it enables over 800 financial institutions worldwide, including 15 of the 50 largest banks and 22 of the world’s central banks, to participate securely in the global financial economy.