Antoine Porte - Lydia Solutions

Lydia Solutions wanted to strengthen the security of its payment services while meeting new regulatory requirements. The company chose Qombo to implement a Verification of Payee solution and improve the detection of high-risk IBANs.

What were your main challenges?

We wanted to implement a solution that could improve the security of our payment services, particularly bank transfers.

We also had to comply with the new European rules that had recently come into force. The project therefore addressed both a security objective and a regulatory requirement.

Why did you choose Qombo?

We were initially convinced by the size of the team and its agility. The two often go hand in hand and make it possible to move quickly.

Qombo is also fully focused on IBAN-related issues, payment security and compliance. This specialisation gave us confidence in the team’s ability to support us over the long term.

What benefits have you seen from Verification of Payee?

The first benefit is a direct improvement in security. We can now verify that the actual account holder matches the beneficiary entered by the customer when initiating a transfer.

This makes it possible to detect certain fraud attempts before the transaction is executed. Depending on the circumstances, we can alert the customer or decide to block the transfer entirely.

What impact has this had on your relationship with customers?

This system strengthens trust between customers and their payment service provider. It shows that we are constantly seeking to improve the security of our services.

This relationship of trust is fundamental, as it underpins the relationship between a financial institution and its users.

What value do you see in sharing information on fraudulent IBANs?

Sharing information on fraudulent IBANs adds an additional layer of security. It makes it possible to check a centralised database containing accounts that have been reported as fraudulent or suspicious.

This allows us to better protect our customers when they initiate a transfer, but also when we receive funds. These checks secure transactions in both directions and help reassure both customers and the wider market.

How do you see the relationship with Qombo developing?

I would like to thank the Qombo teams for creating a solution that was missing from the market.

We encourage them to continue adding IBAN-related features. These tools allow us to meet our regulatory obligations, improve the customer experience and strengthen transaction security.

We need this type of solution. When it can be purchased at an appropriate price rather than developed entirely in-house, it delivers real value for a company such as Lydia Solutions.