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Turnkey
How Lloyds’ Confirmation of Payee Embedded Payment Solution has streamlined processes and driven automation for Turnkey, making payment verification simple, fast, and frictionless.
Read time: 5 mins Added: 10/02/26
Making prompt payments to the right beneficiaries – and doing it first time – is key to the operational functioning of any business. However, making sure that outgoing payments are flowing in the right direction often requires resource-intensive controls that compromise on process efficiencies.
One solution is Lloyds’ Confirmation of Payee Application Programming Interface (API), which businesses can embed into their platforms in order to make payment verification fast and frictionless.
For insolvency software provider Turnkey, integrating Confirmation of Payee into their insolvency case management system helps their clients to guarantee accuracy and reduce the risk of sending payments to the wrong beneficiary.
Right place, every time
With over 40 years of experience, Turnkey describe themselves as the market leader for corporate insolvency software in the UK, while also supporting clients across 17 jurisdictions globally. Their clients include global accounting firms through to sole practitioners. Given the urgent and sensitive work involved in the insolvency sector, Turnkey turned to Lloyds to help ensure that clients can use their system to make payments with certainty and ease.
Lloyds’ Confirmation of Payee Embedded Payment solution allows firms to check that the names of a client, supplier or beneficiary match their bank details, verifying them in real time directly with the beneficiary’s holding bank. Confirmation of Payee checks can be made at the beginning, or regularly throughout, their relationship, as well as applying to payments made on a one-off basis.
When a business requests a Confirmation of Payee check, they’ll receive almost instant results, confirming that the details match, partially match, or don’t match an existing account. This allows for further investigation if the details don’t match, or alternatively allows the business to make the payment with peace of mind knowing that it is being sent to the right beneficiary.
Confirmation of Payee helps firms to avoid wasting time and resources double-checking payment details or chasing payments that have been erroneously sent to the wrong beneficiary. It also protects the business against certain kinds of fraud. The API can be easily integrated into a business’ platform, and Lloyds’ technical experts are on-hand with resources and support to smoothly implement the solution.
“Integrating Confirmation of Payee into our platform means that our clients can make payments with complete confidence,” said Michelle Mills, Head of Product Strategy and Operations at Turnkey. “It removes the need for manual checks, reduces operational risk, and safeguards against certain types of fraud – all while streamlining processes. For firms handling sensitive transactions, this level of certainty is invaluable.” After embedding Confirmation of Payee into their software, Turnkey have had a positive response from clients who are now able to make payments with confidence.
Michelle Mills Head of Product Strategy and Operations at TurnkeyFor firms handling sensitive transactions, this level of certainty is invaluable.
No room for mistakes
One such client is Gibson Booth, an insolvency firm based in South Yorkshire with offices across the UK. Gibson Booth have over 25 years of experience supporting both businesses and individuals facing financial difficulty. The firm makes dividend payments to the creditors of dissolved organisations using Turnkey’s insolvency software.
The nature of these dividend payments means that Gibson Booth are typically making payments to new beneficiaries which, in turn, means that new account numbers, sort-codes and beneficiary details are required for each payment. Collating and checking this information can become a time-consuming, manual process which not only creates inefficiencies, but also increases the potential for processing errors and the associated risks that this entails.
Ted Wetton Managing Director at Gibson BoothWe now use Confirmation of Payee every day – it gives you peace of mind.
Checking – and double-checking – payment details was proving to be an inefficient and costly process for the firm, especially given the volume of payments that the firm needed to make. “We used to have a second person check the account details each time,” said Ted Wetton, Managing Director at Gibson Booth. “When you consider that one cashier has thousands of payments to complete across the year, that’s a time-intensive procedure.”
Since using Confirmation of Payee in Turnkey’s platform, Gibson Booth have been able to remove the requirement to second-check payment details while still having concrete knowledge that the payment is being sent to the correct beneficiary. “We now use Confirmation of Payee every day. It gives you the peace of mind that when you make a distribution, you’re not going to incur a lot of billable time,” said Ted. “Once we use Confirmation of Payee in a transaction, that's an end to it. If a second checker is unavailable, then using Confirmation of Payee means we have made efficiencies.”
“Verification processes are a necessary part of efficient business operations, however manual checks are costly and time consuming,” said Brian Owens, Director at Lloyds. “Confirmation of Payee eliminates the need for second checks, offering clarity and certainty, while enabling firms to reduce costs and free-up vital resources for other tasks.”
Transacting with confidence
By connecting Turnkey’s systems to our Confirmation of Payee solution via API, information flows seamlessly between Turnkey, our platform, and the relevant beneficiary banks in a secure and fully automated manner. This streamlines processes, drives automation, and makes the payment verification process simple, fast, and frictionless.
“Firms in the professional services sector manage large volumes of transactions every single day and ensuring that payments reach the correct beneficiary first time is critical,” said Jessica Armstrong, Head of Professional and Fiduciary Services at Lloyds. “With solutions like Confirmation of Payee, Lloyds is supporting firms in driving efficiencies, reducing risk and creating the confidence needed to fuel growth across the sector.”
To learn more about Confirmation of Payee and our wider range of Embedded Payment solutions, visit our website or speak to your Relationship Team.
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