Wells Fargo has entered a partnership agreement with IPS of Boston to recommend IPS' DoubleCheque fraud detection software solution to the bank's corporate clients.
Under the alliance, IPS will offer a discounted licence fee and provide free set-up support to corporate clients referred by Wells Fargo.
DoubleCheck is a software product that enables corporations to electronically send their cheque files to their bank for matching purposes. Once the bank receives the file, cheques are matched to that file as they are being presented for payment. If there are any irregularities with the cheques being presented for payment such as counterfeit, duplicate or altered cheques, the corporation is notified of the possible fraudulent document to determine how it should be handled.
Justin Freeman, ARP/positive pay product manager for Wells Fargo, says: "We believe the DoubleCheck product from IPS of Boston will offer improved convenience and security for our corporate clients by being an effective compliment to our positive pay services."