A real time solution to detect check fraud
Automating the process of entering mobile deposits can be labor-intensive and time-consuming, making it hard to meet deposit cutoff times. Slow solutions can also mean some mobile deposits aren’t assessed for fraud until after checks are accepted.
Granite State Credit Union (GSCU) wanted their existing solution to review mobile deposits in real-time and render instant decisions about whether to accept, hold or decline checks. As the volume of mobile deposits increased, a real-time solution would help the credit union minimize losses due to fraud and save valuable staff time.
By integrating their existing TrueChecks solution with Fiserv, GSCU was able to deliver real-time responses on counterfeit, non-sufficient funds, closed accounts, duplicates and other potential causes of fraud.
Removing manual entry and review was a huge time saver. It makes the whole mobile deposit review process more streamlined and efficient.– Nicole Longhi,
Assistant Vice President of Electronic Services, GSCU
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