VERIFY DEPOSIT RISK
PRODUCTS / PAYMENTS & DEPOSITS
1
FORMERLY KNOWN AS DEPOSIT CHEK® SERVICE
Verify Deposits and Expedite Funds Availability

Verify Deposit Risk facilitates your institution’s ability to improve funds availability decisioning while also enhancing the consumer experience, making funds more readily available and reducing the risk of loss due to fraud and bad actors.

Features & Capabilities

Participant Model: Provides unparalleled visibility into the return risk associated with ACH and paper check transactions, as well as the historical status for transactions drawn on a Financial Institution (FI) participant account.

Advanced Account and Item-level responses

  • Account status: Indicates the open, closed, or overdrawn status of the paying account as well as whether an item is drawn on a new account credit card, brokerage, or other type of account.
  • Account score: Delivers a predictive score for items drawn on accounts — contributing and non-contributing — that Early Warning® analyzes daily, indicating the level of risk.
  • Item level: Helps detect possible counterfeit and duplicate items through stop payment matches and accounts with recent return activity, improving confidence and risk management of associated deposits.
  • Account Owner Authentication (AOA): Provides confirmation that the inquiry account data matches to an account owner or account signer.
How it Works

Early Warning® analyzes millions of daily transactions among both contributing and non-contributing organizations and delivers a comprehensive response to users, reflective of historical account activity (account status, returns, overdrafts, and ACH), allowing them to assess transactional risk with high scrutiny and precision.

Deposit chek icons

Step 1: A customer makes a check deposit through an ATM, teller, or mobile channel or initiates an online funds transfer.

Step 2: The receiving financial institution submits an inquiry to the Early Warning®National Shared DatabaseSM Resource in real-time seeking information on the deposited item to determine its risk profile.

Step 3: Early Warning® responds with insight on the account status, type of account (AOA only) and a risk score to help assess the potential risk of accepting the incoming deposited item.

Step 4: The receiving financial institution makes a more informed decision to release or hold the deposit based on the Early Warning® response and its own risk tolerance.

On average, Early Warning® provides responses on ~95% of financial institution inquiries on their deposited items*

Verify Deposit Risk provides advance notification of high-risk deposits and verifies whether or not the person making a deposit or funding a new account is an authorized account user.

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The Early Warning Advantage

Leverage 30 years of experience to enhance your new accounting opening strategy.

  • Robust data: Early Warning is the Trusted Custodian® of the National Shared DatabaseSM Resource which contains a rich set of data , ensuring our information is always up-to-date.
  • Scalable technology: Grow at your own pace! Access our capability bundles through a single API. Implement once—and quickly deploy additional capabilities in a snap.
  • Rich analytics: Our risk assessment algorithms incorporate comprehensive, cross-institution data sets, adding depth and perspective to insights.

Let’s talk about how you can make funds more readily available and reduce the risk of loss.

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