ACH Alert’s Latest Product, Fraud Prevention HQ, Receives a 2016 BankNews Innovative Solutions Award

ACH
Alert
, an award-winning provider of patented, innovative fraud
prevention technology for financial institutions of all sizes, received
a 2016 BankNews Innovative Solutions Award for its newest
product, Fraud
Prevention HQ
.

As the industry standardizes faster payments through initiatives like
same-day ACH and adopts newer technologies, today’s cybercriminals have
more opportunities than ever to commit fraud. For this reason, ACH Alert
designed Fraud Prevention HQ, the industry’s first complete exception
decisioning portal that provides a fully integrated dashboard for bank
customers to make their pay or no-pay decisions on suspicious wire
transfers, checks and ACH transactions.

Fraud Prevention HQ’s dashboard delivers a real-time summary of all
check, wire and ACH activity with suspicious transactions clearly noted.
Customers are only called to action when necessary and their responses
are authenticated. The level of authentication is determined by the
level of risk associated with the transaction. For high-risk
transactions, such as wire transfers, voice biometric technology and the
use of an interactive voice response system allows bank customers to
securely confirm or deny the transaction. With a single sign-on through
most online banking systems, customers can access Fraud Protection HQ
from a site they already trust and there is no separate URL or set of
login credentials to keep up with.

“Payments fraud continues to be a top concern within the industry. In
fact, there were 34 attempts at fraud for every 1,000 transactions in Q1
of 2016, according to the Global
Fraud Attack Index
,” said Deborah Peace, AAP, chief executive
officer of ACH Alert. “However, by putting fraud prevention tools at the
fingertips of account holders, banks and their customers can proactively
thwart fraud using actionable alerts, keeping money where it belongs: in
their bank account.”

The ninth annual Innovative Solutions Awards recognize technology
companies that help financial institutions enhance their technical
capabilities, improve operations and increase overall profitability to
remain competitive in today’s market. BankNews recognized four
winners in categories ranging from authentication, fraud and
cybersecurity to management and processing. The winners of each
category, who will be featured in the November issue of BankNews magazine,
were selected based on votes cast by readers of BankNews, with
this year’s online ballot receiving more than 9,500 votes.

“This year’s recipients represent companies that have introduced or
significantly enhanced solutions designed to help community banks become
more efficient, expand their capabilities and, ultimately, better serve
their customers,” said Bill Poquette, editor-in-chief of BankNews magazine.

About ACH Alert

Founded in 2007, ACH Alert provides patented, innovative fraud detection
services to financial institutions ranging from community banks to top
tier financial institutions. Relying on more than 25 years of industry
experience, ACH Alert assists financial institutions in mitigating the
risks associated with electronic payments. ACH Alert is the 2012
recipient of the Kevin O’Brien ACH Quality Award, the highest award for
quality in the ACH Network industry. For more information, visit www.achalert.com,
or follow them on Twitter @ACHAlert,
Facebook,
or LinkedIn.

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