Source: Bluepoint Solutions
Bluepoint Solutions, a 2010 CUNA Tech Council "Best of Show" winner, Microsoft Gold Certified Partner and provider of remote deposit capture, item processing and enterprise content management solutions for financial institutions, announced today during the BAI Retail Delivery 2011 tradeshow and expo the launch of its fraud detection suite, available in real-time and batch modules, designed to detect and flag potentially fraudulent check deposits.
The real-time module is integrated with Bluepoint's Check 21 teller capture application, ImagePoint Teller, and alerts tellers at the point-of-presentment to any suspicious check deposit. The batch module is integrated with Bluepoint's branch capture application, ImagePoint Branch, to generate reports throughout the day flagging items being returned prior to an item being returned in the incoming cash letter. Once a check is flagged as having a reasonable doubt of collectability, the institution can place an extended Reg CC hold on that deposited item, effectively protecting the Bank of First Deposit and the depositor against a check loss. Notifications are used to protect both the financial institution and the account holder from losses on bad checks.
"Check fraud continues to be the single, most expensive and fastest-growing source of fraud loss facing financial institutions," said Hal Tilbury, CEO and founder of Bluepoint Solutions. "Despite the recent decline in check volume, financial institutions must invest in solutions that minimize check fraud and associated losses as checks remain a popular payment method. By providing the ability to query the national shared database with both real-time and batch solutions, we are arming institutions with an additional tool to proactively combat check fraud."
Both Bluepoint's teller and batch capture fraud detection engines are available immediately.