24 April 2018
https://www.avoka.com

JPMorgan Chase selects Fiserv to detect cheque fraud

29 November 2002  |  6407 views  |  0 JPMorgan Chase selects Fiserv to detect cheque fraud

JPMorgan Chase is to roll out Fiserv's cheque fraud detection system, Positive PayPlus with Secure Seal, to its corporate customers.

The product allows banks to save encrypted data, including payee's name and issue date, directly onto the face of a cheque in a 'Secure Seal', which can later be decoded and compared with payment information.

Edward Regina, vice president, JPMorgan Treasury Services, says the software detects whether a payee's name has been changed.

"If we catch a fraudulent cheque within a 24 hour period of it being presented to us, it can then be returned to the bank of first deposit with no loss to our customer," he says.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

JPMorgan Chase signs up for Mighter Gissing contribution data system

JPMorgan Chase signs up for Mighter Gissing contribution data system

28 November 2002  |  3620 views  |  0 comments
Fiserv acquires Sedona customer base

Fiserv acquires Sedona customer base

25 November 2002  |  3465 views  |  0 comments
Fiserv acquires Consumer Network Services from EDS

Fiserv acquires Consumer Network Services from EDS

15 November 2002  |  4482 views  |  0 comments
JPMorgan Chase and IBM in talks on $5 billion IT outsourcing deal - WSJ

JPMorgan Chase and IBM in talks on $5 billion IT outsourcing deal - WSJ

13 November 2002  |  6160 views  |  0 comments
JPMorgan adds breach register to compliance reporting system

JPMorgan adds breach register to compliance reporting system

08 November 2002  |  3995 views  |  0 comments
ING and JPMorgan to offer integrated treasury management service

ING and JPMorgan to offer integrated treasury management service

18 October 2002  |  6330 views  |  0 comments
National Bank of Canada outsources New York back office to Fiserv

National Bank of Canada outsources New York back office to Fiserv

17 October 2002  |  3636 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit http://response.ncr.com

Top topics

Most viewed Most shared
Top tier banks pass first transactions on trade finance blockchainTop tier banks pass first transactions on...
14440 views comments | 20 tweets | 28 linkedin
TransferWise becomes first non-bank to open settlement account with BofE RTGSTransferWise becomes first non-bank to ope...
11340 views comments | 18 tweets | 32 linkedin
'Fake data' will make banks vulnerable - Accenture'Fake data' will make banks vulnerable - A...
9492 views comments | 26 tweets | 36 linkedin
Major card schemes zero in on single 'buy' button for online commerceMajor card schemes zero in on single 'buy'...
8642 views comments | 20 tweets | 36 linkedin
Irish central bank tunes in to fintechIrish central bank tunes in to fintech
8578 views comments | 20 tweets | 21 linkedin

Featured job

(GBP Equivalent) Six-Figure Base + OTE + Benefits
New York City, NY - USA

Find your next job