By using FraudOne in a Day 0 setting, banks can offer their customers the ability to deposit checks wherever and whenever it’s convenient, while mitigating their exposure to fraud.
Westlake Village, CA (PRWEB) March 12, 2012
Softpro’s check verification software, FraudOne, now offers banks the ability to detect fraud in real-time when a check is deposited at the teller, ATM or with a personal mobile device. FraudOne’s Combined Risk Score (CRS) engine takes into account a combination of factors, including comparing the signature on the check with a reference signature on file, before determining if a check should be processed. FraudOne also offers “Day One” and “Day Two” deployment options.
“By using FraudOne in a Day 0 setting, banks can offer their customers the ability to deposit checks wherever and whenever it’s convenient, while mitigating their exposure to fraud," explains Rodney G. Vesling, President and General Manager for Softpro NA.“
At the heart of FraudOne is Softpro’s CRS engine. CRS uses rules that are defined by the bank in order to appropriately weight and score results from a variety of sources, including other fraud engines and external bank systems. By combining several results and allowing the bank to set different weighting, the false positives are minimized and analysts can focus their attention on the suspect transactions.
FraudOne will be demoed at BAI from March 12-14, 2012 in Las Vegas, NV. Booth #600.
The Softpro Group is a world leader in developing and marketing products and solutions for the digital capture, management and verification of signatures. Softpro's fastest growing line of business is its E-Signing solutions. Softpro produces E-Signing software that ranges from Software Developer Kits to a complete platform for Web-based signing. E-Signing solutions have proven to lower costs, accelerate business processes, eliminate errors, and protect documents against manipulation. E-Signing with Softpro is environmentally friendly and thus supports Green initiatives and corporate social responsibility programs. Contact Softpro: 1-805-496-5059.
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