ACH Alert and Fundtech have partnered to offer a range of fraud prevention software to their customers.
The fraud prevention measures are designed to defend against automated clearing house and wire fraud. Fundtech says that the measures allow financial institutions to comply with Federal Financial Institutions Examination Council (FFIEC) guidelines.
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Deborah Peace, CEO of ACH Alert, said: "FFIEC guidance is clear that financial institutions are responsible for developing processes to detect suspicious fund transfer activity.
"Since financial institutions must address fraud and regulatory compliance, the ability to provide value-added solutions that customers demand and then monetise these solutions, turns a burden into a benefit."
Customers of Fundtech’s CASHplus, PAYplus, ACHplus and OrigiNET services will be able to use ACH Alert’s fraud defence solutions.
Mary Ellen Putnam, executive vice president of US payments strategic business unit at Fundtech, said: "Fundtech is excited to be able to offer ACH Alert’s ACH and wire fraud solutions.
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By GlobalData"Fundtech can provide its customers with solutions that not only enable compliance, but can drive revenues."
