ABBL fireside chat: discussing the next building blocks of fraud prevention in Europe
On 6 July 2026, the ABBL hosted a fireside chat bringing together Giorgio Andreoli, Director General of the European Payments Council (EPC), and Claude Meurisse, CEO of LUXHUB. Moderated by Galina Miroshnichenko, the discussion explored some of the most significant developments shaping the European payments landscape, including Verification of Payee (VOP), the Instant Payments Regulation (IPR) and the industry’s efforts to strengthen fraud prevention through initiatives such as FRIDA.
A common theme emerged throughout the conversation: effective fraud prevention cannot rely on a single control. Instead, Europe is progressively building a layered framework that combines payment verification, fraud intelligence sharing and collaboration across the wider payments ecosystem.
Verification of Payee: from compliance to operational maturity
The statistics shared by Giorgio Andreoli speak for themselves: only 1% of the VOP requests remain unanswered due to the lack of implementation by the Requesting Payment Service Provider (PSP), whereas 1% of VOP requests remain unanswered due to technical errors. The rest of the VOP requests receive a response: 66% match, 16% close match and 16 % no match. With VOP now successfully becoming part of day-to-day operations across Europe, attention is increasingly turning towards practical challenges and future enhancements.
One area highlighted by Claude Meurisse concerns corporate payments. While VOP has generally been well adopted across retail banking channels, corporate payment processes often follow different workflows, with payment instructions frequently reaching PSPs after authorisation has already taken place. This creates additional challenges when introducing verification checks without disrupting established processes. On this point, Giorgio Andreoli clarified that future evolutions of the scheme are expected to provide greater clarity, particularly for bulk payment use cases.
The discussion also addressed customer experience. “Unable to Verify” responses remain one of the most common sources of confusion for users and can stem from several factors. As Claude Meurisse noted, the effectiveness of VOP depends not only on the matching algorithm, but also on how institutions integrate verification results into the customer journey.
How LUXHUB supports PSPs with Verification of Payee
As a recognised Routing and Verification Mechanism (RVM), LUXHUB supports financial institutions through its Payee Verification Platform, providing access to the European VOP ecosystem and helping PSPs meet regulatory requirements efficiently.
During the discussion, participants stressed the importance of combining VOP with other tools, as fraudsters are highly capable of adapting quickly. This is where technical service providers can create value by combining information from multiple sources, including VOP services, fraud data-sharing mechanisms and transaction monitoring solutions, to support PSPs in their fraud prevention efforts.
FRIDA: building layered fraud intelligence for European PSPs
The discussion then turned to FRIDA (Fraud Detection and Information Sharing Architecture), the EPC initiative designed to facilitate fraud intelligence sharing between PSPs.
While VOP helps verify payment details before a transaction is initiated, FRIDA is expected to enable a broader exchange of fraud-related information. Giorgio Andreoli explained that FRIDA would be deployed in accordance with the data sets defined under the PSR and and following a data protection impact assessment (DPIA) to ensure an appropriate level of data protection.
Claude Meurisse described this evolution as a move towards “layered intelligence”: with VOP acting as a first layer, fraud data sharing as a second, transaction monitoring as a third, and capabilities such as device fingerprinting adding further protection.
Lessons from FNC-RF and preparing for FRIDA
Drawing on LUXHUB’s experience with the Banque de France’s FNC-RF initiative, Claude Meurisse shared several practical lessons relevant to the future deployment of FRIDA.
First, fraud information-sharing platforms are not merely lists of fraudulent IBANs. They are collections of fraud events that require enrichment, consolidation and analysis to become operationally useful. This is where service providers can contribute through capabilities such as data quality management, deduplication and fraud scoring.
Second, connecting to such platforms is not only a technical exercise. PSPs must also adapt their internal processes to ensure that shared intelligence can be effectively integrated into fraud management and decision-making frameworks.
Building on this experience, LUXHUB is developing its own FNC-RF solution, designed to facilitate fraud information sharing and support institutions as they prepare for the future FRIDA ecosystem. For organisations already connected to similar frameworks, the transition towards FRIDA should be smoother, with additional intelligence sources being integrated into existing operational processes.
Why fraud prevention requires collaboration beyond banking
Another important point raised during the discussion was the need for broader cooperation beyond the banking community.
As fraud increasingly originates through digital channels, effective prevention will require closer collaboration between PSPs and other actors, including telecommunications providers, hosting providers and large online platforms. This broader ecosystem approach is expected to become increasingly important as fraudsters make greater use of sophisticated digital techniques and artificial intelligence.
The future of VOP, FRIDA and fraud prevention in Europe
The discussion concluded with a shared view that VOP and FRIDA should be seen as complementary building blocks within a broader European fraud prevention architecture.
For LUXHUB, this evolution is reflected in a dual commitment: supporting PSPs today through its Payee Verification Platform as a VOP RVM, while preparing the market for tomorrow through its FNC-RF fraud information-sharing solution. As European payments continue to evolve, the challenge will be to connect these different layers of verification, intelligence and monitoring into a coherent defence against increasingly sophisticated fraud threats.
Pictures © ABBL