London UK December 16, 2024

Aptia, the UK’s largest third-party pensions administration firm, has announced its adoption of HSBC’s cutting-edge Payment Pre-Validation API, marking a first for the pensions industry. This strategic move reinforces Aptia’s commitment to offering its customers the most secure, efficient, and seamless payment processes.

The Payment Pre-Validation API leverages UK's Confirmation of Payee (COP) thus ensuring the accuracy of UK beneficiary account details before payments are processed, significantly reducing the risk of errors and fraud. By integrating this advanced technology into its operations, Aptia is raising the bar for security and trust in pension fund administration.

Pension funds are a lifeline for millions, and any disruption or fraudulent activity can have devastating consequences. By implementing HSBC’s API, Aptia ensures that its customers enjoy: 

• Unmatched Security: Payments are verified and validated before being processed, minimizing fraud risks.
• Streamlined Processes: Faster, error-free transactions that enhance the customer experience.
• Enhanced Trust: A reinforced commitment to safeguarding customer data and financial integrity.

“At Aptia, we continuously strive to innovate and set new standards in pension administration. Implementing HSBC’s Payment Pre-Validation API is a game-changer for our industry. It reflects our dedication to delivering the highest level of security and reliability for our customers, giving them peace of mind as they access their pension funds.”

Malcolm Reynolds

President, U.K. and Portugal, Aptia

HSBC’s Payment Pre-Validation API is part of the bank’s suite of advanced payment solutions, designed to meet the evolving needs of businesses in a rapidly digitizing world. This partnership marks a milestone in how financial services can revolutionize customer experience through technology. Leveraging domestic regulatory confirmation of payee schemes, such as the UK Confirmation of Payee (COP) and HK scheme, HSBC’s Payment Pre-validation API also benefits from SWIFT's pre-validation service for payee accounts globally.

“Our Payment Pre-Validation API leverages UK’s Confirmation of Payee (COP) service and exemplifies our commitment to delivering innovative solutions that safeguard against errors and fraud while enhancing the overall customer experience, ensuring greater trust and reliability for millions of beneficiaries.”

Nadya Hijazi

Global Head of Wholesale Digital Channels at HSBC