When Summit Credit Union of Greensboro, N.C., noticed a rise in check fraud, management knew they had to reverse that trend.
The $235 million-asset institution realized the increase in fraud coincided with more members using its mobile deposit service. In December 2017, management implemented new check review protocols and deployed new fraud mitigation technology. Specifically, Summit combined two of its fraud mitigation systems, provided by Advanced Fraud Solutions and Alogent, to use an omni-channel, real-time check fraud monitor.
—originally published in Credit Union Times [full article available via link; paywall]