FxPro has partnered with tell.money to implement Confirmation of Payee (CoP) technology for the security of BnkPro, the Electronic Money Institution (EMI) under FxPro Group Ltd.
tell.money provides BnkPro clients with greater protection against app fraud and unauthorized transactions amid the rise of app-based fraud.
Confirmation of Payee (CoP) validates recipient’s account details during payments
The CoP feature validates the recipient’s account details during payments, reducing the risk of misdirected transactions and fraudulent activities.
BnkPro’s clients already benefit from a suite of financial management tools, including multi-currency solutions, instant currency exchanges, and the exclusive BnkPro Mastercard.
Adding CoP to its offering through tell.money ensures a smoother, more secure experience for global transfers and everyday financial operations.
“We’re delighted to support them in reducing fraud and making transactions safer”
Paolo Broccardo, COO of BnkPro, said: “Security is a cornerstone of what we deliver to our clients at BnkPro, and tell.money’s expertise in Confirmation of Payee gives us the confidence to combat fraud head-on, ensuring our clients can transact with trust and ease. This partnership reflects our dedication to providing secure, efficient, and innovative solutions for managing wealth.”
David Monty, CEO at tell.money, commented: “We’re proud to support FxPro in enhancing their client security through our Confirmation of Payee service. We’re delighted to support them in reducing fraud and making transactions safer, reflecting a shared commitment to protecting users in today’s financial landscape”.
BnkPro offers multi-currency accounts
BnkPro is a digital financial platform launched by the FxPro Group, designed to seamlessly blend e-money services with investment opportunities. It provides users with an all-encompassing financial experience, offering multi-currency digital wallets, a Mastercard debit card, and direct access to global stocks and ETFs. The platform caters to individuals and businesses, allowing for easy international transactions and investment management from a single interface.
At its core, BnkPro’s offerings include multi-currency accounts, enabling users to hold and manage funds in various currencies, which simplifies cross-border payments. The platform supports international wire transfers through SEPA, SWIFT, BACS, and CHAPS, making it a versatile tool for global financial operations. On the investment side, BnkPro grants users access to thousands of stocks across major markets, complemented by sophisticated tools such as stock screeners and watchlists, allowing for personalized investment strategies.
A key highlight of the platform is the BnkPro Mastercard debit card, which allows for global spending at competitive exchange rates. Users can manage their spending in real-time and withdraw cash from ATMs worldwide. This integration of banking and investment services under one roof reflects BnkPro’s mission to create a more unified financial experience.
BnkPro’s journey began in 2019, originally under the name Hermex International Limited, when it was authorized by the UK’s Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI). Later that year, FairFX Plc acquired the payments division of HermexFX, marking a significant step toward its expansion. In January 2021, the company rebranded as BnkPro Ltd, signaling a new chapter in its development.
One of the platform’s pivotal milestones came with its partnership with Currencycloud in 2021, enhancing BnkPro’s cross-border payment capabilities and broadening its international reach. This collaboration paved the way for BnkPro’s official launch in July 2021. Since then, BnkPro has expanded its offerings to include corporate accounts, providing tailored solutions for small and medium-sized enterprises, as well as large corporations.
