B2B Payments

Fiserv Launches Enhanced Payment Fraud Protection

Fiserv, Inc. a global provider of financial services technology solutions, announced today a real-time electronic payments monitoring capabilities to prevent fraud. The solutions protect users from the increasing threat of payments fraud, to cover both international and domestic payments from the Automated Clearinghouse (ACH) and wire (Fed and SWIFT). The solutions also enhance the SWIFT Sanctions Screening capabilities on the Financial Crime Risk Management Platform (FCRM) from Fiserv.

Tom Tobin, vice president and general manager, Financial Crime Risk Management, Fiserv, explains that “Fiserv solutions leverage a common platform to protect against multiple kinds of financial crime risks across channels. This platform approach allows our clients to mitigate current financial crime concerns and tackle new ones as they are identified”.

ACH Fraud Prevention from Fiserv takes a cross-channel view of customers and their behavior, using detection and interdiction scenarios to evaluate ACH files, batches and transactions, looking for unusual patterns of behavior and other variables that indicate fraud risk. Wire Fraud Prevention from Fiserv is a scalable and cost-efficient solution that prevent wire fraud losses with minimal impact to organizations relying on these critical payments. In addition, the SWIFT Sanctions Screening has also been developed to leverage Fiserv SWIFT connectivity.

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