NCR, a leader in omni-channel solutions and Advanced Fraud Solutions, a leader in fraud prevention services, announced that they have partnered to integrate AFS TrueChecks® into NCR's Interactive Teller Machine platform.
Interactive Teller Machines enable financial institutions to offer access to teller services during non-traditional banking hours, build new small-footprint branches, and provide full teller services in areas not served by branches. Users can take advantage of the advanced features of NCR ATMs such as intelligent deposit, bill pay and new account and loan initiation.
TrueChecks® is a web-based solution that provides tellers with recommended actions based on the fraudulent history of the check or account.
"Our teaming with NCR enhances the ability of its financial institution clients to authenticate ITM transactions quicker and more accurately. The partnership offers an unparalleled combination of external risk mitigation data in real time, without sacrificing the convenience customers get with remote deposit capture.”
— Lawrence Reaves, CEO, AFS
The uniqueness of TrueChecks® is the collaborative approach to fighting fraud. Financial institutions, processors, and other industry sources contribute their counterfeit, NSF, and Closed Account information to a shared database. This database protects financial institutions not only from repeat offenders within their organization, but also from external risks from other financial institutions both locally and across the US.
As financial institutions increasingly turn to ITMs to strategically grow their business, this new deposit avenue demands a new approach to fraud prevention. By integrating TrueChecks® directly into the ITM platform, AFS and NCR can deliver just that, providing remote tellers with instantaneous feedback on check deposits made through the ITM.
"It's been a banner year for Interactive Teller as we've seen our financial institution customers take a big step forward in the adoption of new branch technology," said Andrew Short, General Manager, Branch Banking, NCR Corporation. "We're excited to work with AFS to make this transition even more seamless, offering automated TrueChecks check fraud prevention at this new point of deposit."
"Our teaming with NCR enhances the ability of its financial institution clients to authenticate ITM transactions quicker and more accurately," said Lawrence Reaves, CEO of AFS. "The partnership offers an unparalleled combination of external risk mitigation data in real time, without sacrificing the convenience customers get with remote deposit capture."
Advanced Fraud Solutions was founded in 2007 with the simple mission to help financial institutions and businesses prevent fraud by utilizing our comprehensive private cloud-based software solutions at the front line and in the back office. Every day, our innovative fraud prevention tools help banks, credit unions, and merchants of all sizes eliminate losses and safeguard their financial assets, providing the level of protection that today's customers demand. At Advanced Fraud Solutions, we know the best way to fight fraud is to prevent it. Learn more at www.advancedfraudsolutions.com.