SurePay expands its Confirmation of Payee software to the Nordics

Source: SurePay

SurePay, the leading Confirmation of Payee provider, has today announced the expansion of its presence in the Nordics with a new senior hire, Steen Álvarez Jacobsen as Business Development Manager.

Confirmation of Payee is a way to give consumers, banks and companies greater assurance that their payments are being routed to the intended recipient and are not being accidentally or deliberately misdirected. Payments across Europe have become increasingly digitised, and new payment solutions and technology are needed to combat the growing number of fraudsters capitalising on the large gaps that still remain across the market. Additionally, fraud has continued to expand internationally, whereby fraudsters are using foreign bank accounts for fraudulent purposes.

Steen joins SurePay with over 15 years of experience building and driving business development for a wide range of organisations, such as AltaPay and Valitor. At SurePay, he will be responsible for the growth of SurePay’s activity in the Nordic region by building partnerships with financial institutions and expanding SurePay’s network, continuing its path towards a pan-European solution in the fight against fraud.

In September 2021, SurePay raised a €12.2M round to support with international expansion and the hiring of new business development teams and IT experts to scale the technology platform and develop new solutions for customers.

SurePay has already checked nearly 4.5 billion payments since its inception in 2017 and has over 35 banks and 150 organisations using its solution. In his role, Steen will lead SurePay’s expansion into the Nordic region by working closely with banks and their corporate partners to raise awareness of Confirmation of Payee and help them bring the solution to market as fast as possible.

Commenting on his appointment, Steen Álvarez Jacobsen said: “I am very much looking forward to bringing SurePay’s solution to the Nordics and assisting in the fight against fraud. Last year, more than six million euros were lost due to invoice and CEO fraud in Denmark alone, highlighting the urgent need for Confirmation of Payee.”

“By partnering with SurePay, Nordic banks have the opportunity to take a development shortcut and offer a best-in-class Confirmation of Payee solution to their customers in a matter of months, as opposed to taking years for in-house development.” continued Steen.

David-Jan Janse, CEO of SurePay, commented: “Our expansion into the Nordics is a real milestone for SurePay, as we continue our efforts into eradicating fraudulent and misdirected payments by making our solution available more widely across Europe. We’re excited to have Steen join our growing team and look forward to working with him to build a strong presence in the region, growing our network and services and bringing SurePay’s innovative technology to the Nordic market.”

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