New offering will provide framework to support faster availability of funds
Early Warning, a leader in fraud prevention and risk management, has selected the Authentic software solution from NCR Corporation (NYSE: NCR) to build a bank-to-bank good funds network supporting faster availability of funds.
Authentic enables payment authorization and transaction routing. Major banks, processors and merchant acquirers around the world rely on Authentic’s unparalleled flexibility to support any transaction type from any device, source or system. Authentic will be integrated with Early Warning’s core payments products and services.
Early Warning’s good funds network will facilitate communication among financial institutions, giving a participating depositing bank a real-time guarantee for check and ACH transactions and will support both credit push and debit models. As a result, customers will receive faster availability of funds on deposited items and instant notification of items presented for deposit – all based on real-time activity.
Lou Anne Alexander, chief market development officer of payment solutions, Early Warning, said, “Financial institutions are responding to customer demands for faster availability of funds as well as better real-time information on their available balances. Early Warning is intently focused on ensuring these transactions are just as safe as they are fast. The combination of our tools, the resources provided by the paying bank and NCR’s capabilities produce a dynamic decisioning capability that mirrors the sophistication that a paying bank would rely on if the item was presented at its own institution. Integrating the good funds network into our core product offerings is our response to the desired outcomes of leading financial institutions and regulatory guidance for fast, secure transactions.”
“NCR has a deep commitment to innovation and software growth. By combining our Authentic software with Early Warning’s solutions, we will deliver innovative services to the banking and payments industry,” said Steve Nogalo, vice president and general manager of Payments Solutions, NCR. “Together, we will drive value for our financial services customers and enable consumers to enjoy safe, secure, and fast transactions across every touch point for their banking or purchases.”
Early Warning’s enhanced service will improve both the depositing and paying financial institutions’ ability to meet customer demands for funds availability across all channels. It will also satisfy heightened regulatory expectations to accelerate the availability of information related to items presented for a safer, faster financial system.
About Early Warning
Early Warning provides risk management solutions to a diverse network of 2,300 financial institutions, government entities and payment companies, enabling businesses and consumers to transact securely and conveniently. Owned and governed by five of the largest banks in the U.S., Early Warning’s unique business model facilitates a data exchange system based on collaborative, shared intelligence. For more than 20 years, the company has worked with organizations of all sizes to advance collaborative risk management and fraud prevention. For more information please visit www.earlywarning.com.
About NCR Corporation
NCR Corporation (NYSE: NCR) is the global leader in consumer transaction technologies, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.
NCR is headquartered in Duluth, Georgia with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.