Released 13 November 2014

Guardian Analytics, the market leader in behavior analytics solutions for protecting against financial scams, today announced FraudMAP ACH-RDFI, the firm’s latest development that proactively reveals dubious online, mobile and also digital ACH purchases received by a monetary establishment that debit or credit history funds to its clients’ accounts.

In combo with Guardian Analytics’ original ACH offering, FraudMAP ACH-ODFI, financial organizations have enhanced insight right into and control over all elements of the threats related to ACH settlements and brand-new exposure into ACH-related consumer and business settlement task as well as trends.In the prior

twelve months, hundreds of millions of individual records have been subjected via information violations, providing wrongdoers with the data they have to electronically get rid of funds from consumer as well as company checking account, concession financial institution and also de-coupled debit cards, or make use of P2P and also on the internet costs repayments to transfer cash out of accounts. A brand-new Javelin Research research study located that the number of victims of non-card scams almost tripled in 2013. As well as, in the 2014 AFP Repayments Fraud Research, twenty-eight percent of business stated experiencing ACH debit fraud.

“Today’s atmosphere is unparalleled for financial establishments – the increase in criminal task, the development in purchase volumes, and also the should expand trust with their customers have enhanced the pressure on bank and credit union procedures to keep illegal transactions from slipping through” claimed Craig Priess, Guardian Analytics creator and also vice president of products. “FraudMAP ACH-RDFI eases this stress and places economic institutions responsible over the wide array of deals coming into their accounts, minimizing danger of losses while improving customer care as well as loyalty.”

FraudMAP ACH-RDFI makes use of the business’s copyrighted behavior analytics to examine ACH obtaining declare unusual purchase activity. With FraudMAP ACH-RDFI economic institutions could:

  • proactively protect against deceptive debits to consumer accounts, plus deceitful P2P, costs pay, cross perimeter payments, as well as POS deals stemming from client accounts
  • identify replicate check numbers and questionable check number series
  • uncover large credits or suspicious activity right into possible mule accounts
  • rise visibility into styles in client payment task, particularly alternative payments associateded with financial account

With FraudMAP ACH-RDFI, economic establishments could enhance customer service and also commitment by proactively identifying unapproved debits, boost conformity with boosted suspicious activity surveillance, as well as enhance procedures by lessening manual reviews.