Learn how Early Warning can help your FI use big data and predictive analytics to say goodbye to bank deposit fraud
Picture this: a fraudster writes a check for $5,000 from his account at a credit union and walks over to his local branch of a nationwide bank, depositing the check by scanning it in at the ATM. It’s a large check, so the bank makes half of the funds...
This case study has been updated - originally published July 13, 2023
Faster deposit channels like remote deposit capture and same-day ACH make banking more convenient for consumers. But as transactions speed up, deposit loss prevention solutions must...
Faster banking means faster fraud.
Modern deposit channels—from mobile to remote-deposit capture to same-day ACH—make banking faster and more convenient for customers.
They also make deposit risk assessment more complicated for FIs.
Bad actors are...
Easier ways to send and receive payments? Check!
The need to write and send paper checks dwindling? Check!
Check fraud becoming a relic of the past?
Umm, not so much…
The reality is, check fraud shot up a mind-blowing 96% in 2022 according to the...
With an estimated 5 million checks per week being distributed to taxpayers, here are a few things to keep in mind.
Stand guard across all deposit channels with insights on 95% of deposited items. Detect fraud, streamline transactions, and empower funds availability decisions.