Fraud continues to be a threat to financial institutions like yours. And with financial fraud expected to continually increase in the coming years, it's important to take stock of where your institution stands regarding losses and prevention strategies. Understanding the importance of structuring an affordable, efficient program to help prevent fraud from hurting your business, Open Solutions offers you an array of solutions, including:
Fraud Tools, Fraud Filters and Transaction Analysis,
Positive Pay, Reverse Positive Pay and Account Reconciliation and
Signature and Check Stock Verification.
The underlying technology of our solutions is key to protecting your institution against all types of fraud. Using SAND® (self-authenticated negotiable documents) technology, your institution can print encrypted authentication codes on checks to ensure security. Printed as a bar code or clear text format on the face of the check, the technology protects the negotiable information and authenticates the transactional data. The encryption is tamper-proof and secures all negotiable information — including payee, amount, and check number — and can be verified to prove check authenticity.
ISFraudPro™ – Fraud Filters and Transaction Analysis
Your institution can enact better protection against payment fraud for consumers and businesses with ISFraudPro*. Integrated with Open Solutions ISCheck™ imaging solution, ISFraudPro identifies suspicious checks and account activity through sophisticated filters and neural network technology. Using our fraud solution, your institution can improve productivity, make faster and more accurate pay/no pay decisions, and provide validation at the teller line or in the clearing center.
ISRecon™ – Account Reconciliation with Positive Pay, Reverse Positive Pay and optional Payee Verification
Community institutions are increasingly faced with the challenge of providing account reconciliation processing services to their corporate customers, while larger institutions look for ways to differentiate their cash management product offering from the competition's — all while managing fraud risk. Open Solutions' browser-based ISRecon** supports the account reconciliation process at all levels and enables institutions to benefit from revenue generation and market differentiation.
ISVerify™ – Signature and Check Stock Verification
From counterfeits and forgeries to deposit fraud and check kiting, check fraud appears in many forms. Similarly, signature fraud ranks among the most costly type of fraud committed against financial institutions, retailers and their customers. In ISVerify*, Open Solutions offers an automatic signature and check stock verification application capable of preventing or detecting all types of fraud against any class of account.
By incorporating signature and check stock verification into your fraud prevention program, your institution can examine more signatures than with manual review systems as well as review discrepancies in signatures or check stock in a single back-office location or at individual branches via the WAN, Intranet or Internet.
Be Proactive
Don't let advancing technology outpace your current method of protection. Contact Open Solutions Imaged Payment Technologies Group today at image@opensolutions.com to safeguard your institution and your clients from fraud, secure payments and reduce losses.
* ISFraudPro and ISVerify are powered by OASIS™ – a trademark of ASD Corporation.
** ISRecon is powered by SAND® - a registered trademark of ASD Corporation. USA Patents.
