Early Warning facilitates the secure exchange of information and knowledge between organizations and offers solutions for responding quickly to evolving fraud challenges.
DEPOSIT CHEK® Service
Deposit Fraud Prevention Service
The DEPOSIT CHEK service is at the forefront of helping protect financial services organizations by providing advance notification of high-risk deposits. The service is a proven solution to help prevent fraud and expedite funds availability decisions at the teller window, new account desk, image ATM, online banking and/or the back office.
Most major financial institutions contribute daily account status updates and other information to the DEPOSIT CHEK service. They also contribute transit and return information on the accounts of non-participating financial institutions. This long-established best practice among leading institutions in the U.S. helps reduce exposure to losses and combat deposit fraud.
The DEPOSIT CHEK service is available as a real-time, batch or check reader offering. The service is capable of being deployed enterprise-wide across business lines, including retail banking.
The Early Warning Difference
Early Warning maintains a common platform and safeguards the National Shared Database to allow financial services organizations to contribute and share information for the purposes of detecting, preventing and deterring fraud. Unlike other fraud prevention services, Early Warning serves in a Trusted Custodian role. In this capacity, the database is governed by a set of strict Operating Rules, created and adopted by financial institutions, which clearly define acceptable criteria for contributed data. Early Warning also supports consumers' rights to dispute and correct inaccurate or incomplete information furnished to Early Warning in accordance with the Fair Credit Reporting Act (FCRA).
For more information on the DEPOSIT CHEK fraud prevention service, please contact us.