ACH Fraud Filter Extends Positive Pay System to Electronic Transactions and Provides Banks with a New Product to Offer Corporate Clients
LINCOLN, Neb., Jan. 31 /- Centrix Solutions Inc., a provider of risk management and workforce optimization products to financial service companies, today announced that an ACH Fraud Filter has been added to Exact/TMS, its comprehensive check reconcilement and positive pay system. This enhancement allows financial institutions to take the fight against fraud to a new level by offering corporate clients both positive pay (to detect check fraud) and an ACH fraud manager in a single, web-based solution.
The ACH Fraud Filter fits within the existing framework of Exact/TMS because the system is highly automated, includes email notification to clients and already enables corporate clients to make pay/return decisions on potential fraudulent checks via the web. The same concept can now be applied to ACH transactions by defining ACH business rules and creating exceptions for suspect activity. ACH rules can also be defined as "notification only," meaning that the client receives an email alert that an ACH item has posted, but no pay/return decision is required.
Michelle Delis, Accounting Specialist at Bank of Agriculture & Commerce in Stockton, CA, said that the ACH fraud filter is exactly what commercial clients have been asking for. According to Ms. Delis, "We have had numerous clients inquire about an easy way for them to keep abreast of ACH activity and we now have a simple solution. Also, we can market this to clients who do not have an interest in traditional check positive pay, which allows us to leverage our technology investment."
The ACH Fraud Filter gives financial institutions a fraud detection tool that is marketable to commercial clients of all sizes. The architecture of Exact/TMS enables a financial institution to control the level of fraud detection at the account level and tailor fraud detection services to the specific needs of the client. For example, one account may be setup for only ACH fraud detection, while another account could have both check positive pay and ACH fraud detection.
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 financial services, human resources management and systems management, Centrix provides clients with a broad array of strategic technology solutions. The Centrix professional services team evaluates technology needs, provides expert advice, and develops custom solutions for unique business problems or systems integration projects. More information can be found at www.centrixsolutions.com.
This release was issued through The Xpress Press News Service, merging e-mail and satellite distribution technologies to reach business analysts and media outlets worldwide. For more information, visit http://www.xpresspress.com/
Source: Centrix Solutions, Inc.
CONTACT:
Bradley S. Johnson,
Director of Business Development, of Centrix Solutions, Inc.,
+1-402-488-3990,
bjohnson@centrixsolutions.com
Web site: www.centrixsolutions.com/
