Centrix Introduces EPIQ™ to Simplify ACH Risk Management and Detect ACH Fraud

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ACH risk is a reality that affects financial institutions of every size and regulators are mandating that financial institutions step up efforts to mitigate this risk. EPIQ™, from Centrix Solutions, provides a cost effective and flexible solution that greatly simplifies compliance, but more importantly, protects the financial institution and its clients.

Centrix Solutions Inc., a provider of risk management products to financial institutions, today announced the release of EPIQ™, the comprehensive ACH risk management system for financial institutions. EPIQ™ offers innovative technology to monitor and manage ACH activity, including simple and intuitive analytical reporting of both originated and inbound ACH activity, real time validation of originated files, and calendaring/scheduling for originators.

ACH Risk Reporting: EPIQ™ greatly simplifies ACH risk reporting and enables a financial institution to easily meet the reporting requirements set forth by regulators. Moreover, the system gives management a reporting tool that makes it simple to review and understand the activity of each originator, something that is often a challenge. EPIQ™ tracks all ACH activity - both outbound and inbound - and incorporates simple, intuitive reporting that includes trending reports and graphs, originator activity analysis, ACH returns reporting, and exception reporting for originator activity that warrants further review, including excessive returns.

ACH File Validation: ACH fraud is a growing concern for every size financial institution and key to combating this is preventing fraudulent files from entering the ACH network. EPIQ™ provides a safeguard against ACH fraud by validating all originated files (in real time) to detect activity that is "out of the norm" for an originator. Validation rules are customized for each originator and can include a file submission schedule, a "white list" of valid R/T numbers and account numbers for a file, valid transaction types (SEC codes), limits, and many other criteria that govern the validation process. Real time alerts notify the institution if a file warrants further review, and the EPIQ™ management console enables operations personnel to review and approve/reject a suspicious file and enter notes as to the reasoning behind the decision.

ACH Origination Calendar/Schedule: Utilizing an ACH origination calendar to understand when originators are scheduled to submit files is considered a good practice but is sparsely used because of the manual effort involved. EPIQ™ eliminates this concern by automatically validating originated ACH files against the calendar to insure that each file is scheduled for that day. Moreover, an automated email alert is sent to notify originators each day that the originator has a file scheduled, and the institution is alerted if a scheduled file is not received by the designated time.

To learn more or view a demo visit http://www.centrixsolutions.com or call (402) 488-3990.

About Centrix Solutions, Inc.
Centrix Solutions, located in Lincoln, Nebraska, provides financial institutions with products and services to help manage risk and optimize efficiency. With a product line that encompasses treasury management, compliance & risk management, bank operations, and human resources systems, Centrix provides clients with a broad array of strategic technology solutions. The Centrix professional services team also evaluates technology needs, provides expert advice, and develops custom solutions for unique business problems or systems integration projects. More information can be found at http://www.centrixsolutions.com.


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Brad Johnson
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