Check loss mitigation tools integrated into mobile, ATM, merchant and home capture
HENDERSON, Nev.--(BUSINESS WIRE)-- Bluepoint Solutions today announced it has expanded its real-time, automated fraud prevention tools to accommodate its entire suite of remote deposit capture applications, including mobile deposit, ATM, merchant and home capture points.
Checks from all deposit channels, now including Bluepoint’s award-winning QwikDeposit ToGo mobile capture, ImagePoint ATM, QwikDeposit Pro merchant capture and QwikDeposit Home products, are combined centrally in the company’s ImagePoint Hub for validation against multiple third-party services. When an alert is received, the item is added to a queue for investigation at the institution to evaluate the alert and possibly place an extended hold on the deposit. The depositor is quickly notified that they have potentially been the victim of fraud and that their deposit could be subject to an extended hold.
Andrew Tilbury, chief marketing officer of Bluepoint Solutions said, “With the addition of automated fraud detection to all our RDC channels, financial institutions can reduce losses from return deposit items and counterfeits and protect their account holders from incurring losses caused by uncollectible items, excessive fees, potential negative balances and damaged credit. This is a powerful tool for our customers to combat payments fraud and reduce losses.”
The solution is designed to identify multiple types of exceptions, including checks drawn on accounts with a high incidence of return, low balance, new accounts, closed accounts, accounts with a known history of counterfeits and more. Based on the type of alert that is returned, the financial institution can configure their workflow to apply the appropriate length of hold, depending on Reg CC guidelines and the relationship they have with the depositor.
About Bluepoint Solutions
Bluepoint Solutions provides end-to-end payment processing and content management solutions to community financial institutions. More than 1,400 credit unions and community banks nationwide have deployed its enterprise technology, including the largest corporate credit unions and credit union service organizations in the country. Learn more at http://www.bluepointsolutions.com.
For Bluepoint Solutions
Bevin Wallace, 212-510-7974
Source: Bluepoint Solutions