A Partnership Between Imaging/Fraud Protection Services

The producers of check imaging are partnering with the producers of fraud detection software to build protections into the new technologies.

For example, Viewpointe Archive Services, LLC, which provides document storage and retrieval, announced that it would add the fraud detection suite of products by Fiserv to its image product portfolio. The result to banks is the option of using:
A positive pay feature that automatically reviews the payee line information from a check image, along with the check number and dollar amount, to compare it with a company's "checks issued" file.

An alternative type of positive pay system that sends the issue file information on the check itself. The information is encoded into a seal printed on the check as a logo or other unobtrusive design. During processing, the information from the seal is compared to the check image.

A service that automatically detects forged or missing signatures by digitally clipping signatures from previously paid check images to create a signature profile that can be used to compare with new items.

The availability to view exceptions to the above three services online for instant pay or no-pay decision-making.

Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 12, 2/04