Guardian Analytics has launched a new solution to proactively identify suspicious transactions received by a financial institution that debit or credit funds to its customers’ accounts.
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The new solution, known as FraudMAP ACH-RDFI, uses proven behavioural analytics to proactively detect unauthorized and high risk online, mobile, and electronic transactions
FraudMAP ACH-RDFI enables financial institutions to proactively prevent fraudulent debits to customer accounts, plus fraudulent P2P, bill pay, cross border payments, and POS transactions originating from customer accounts
The solution also allows financial institutions to identify duplicate check numbers and suspicious check number sequences, uncover large credits or suspicious activity into potential mule accounts and increase visibility into trends in customer payment activity, particularly alternative payments linked to bank accounts.
Craig Priess, Guardian Analytics’ founder and vice president of products, said: "FraudMAP ACH-RDFI relieves this pressure and puts financial institutions in control over the broad range of transactions coming into their accounts, reducing risk of losses while enhancing customer service and loyalty."
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