ACI Worldwide - Solutions - Risk Management - Enterprise Fraud

ACH check conversion changes companies’ fraud risk profiles. Institutions can mitigate the impact of new ACH threats with fraud filters and business practices already in use. However, the capability to convert checks into an electronic format (check 21) through the ACH channel brings unique risk challenges. Financial institutions should explore new enterprise fraud prevention technologies to better address these new risks.

Though ACH fraud losses have not yet reached check fraud levels, it is clear that the ACH system is now vulnerable to the check fraud schemes that have plagued the check clearing system for years. Enterprise fraud management solutions are essential to mitigating ACH fraud — as well as to thwarting other kinds of fraud and implementing effective and holistic risk management programs.

Ultimately, effective fraud solutions must enable fraud analysts and investigators to view transactions, accounts and relationships holistically.

Real time, near real time and batch analysis
Configurable template rules
Integrated graphical user interface to enable alerts to be actioned holistically across all channels within a single customer view
Block, watch, letter generation, and reminder and notes features to help automate and streamline fraud analysts' activities
Fast return on investment

Accommodates all NACHA transactions types - RCK, POP, ARC, TEL and WEB - to provide fraud defences to mutating channel threats
Blends fraud prevention and detection of check, check electronification and ACH channels to limit exposure within one single solution enterprise solution
Enables institutions to identify fraud threats within the Reg E time-scales - protecting and alerting the customer to the potential risk of payment fraud
Helps track and pinpoint customer misuse.
Limits ODFI exposure from the threat from erroneous ACH transactions
Improves fraud analysts' productivity
Provides automation and ability for institutions to lower their fraud write offs and operational costs
Enables institutions to incrementally add new payment channels without the complexity of point solutions, therefore helping to manage and support their cost of ownership model