Bluepoint Solutions today announced it has partnered with Kernersville, N.C.-based Advanced Fraud Solutions (AFS) to automate the identification of counterfeit checks by integrating its ImagePoint Teller with the AFS TrueChecks solution.
AFS provides fraud detection and prevention software to the financial industry through a suite of card and check related products.
When scanning deposits using ImagePoint Teller, tellers will immediately be notified if checks deposited are flagged as potentially counterfeit. Tellers then will be able to protect the depositor and institution from the risk of counterfeit checks. The database of counterfeit checks is built and maintained by Advanced Fraud Solutions. Before the integration with ImagePoint Teller, tellers had to manually enter a check's routing and account numbers into a web-based portal to run the counterfeit screening.
The combination of TrueChecks with ImagePoint Teller will save tellers significant time by combining multiple processes into a single workflow and guaranteeing that checks are not accidentally skipped for screening. Losses from counterfeit checks account for approximately a third of check losses at financial institutions nationwide, according to the most recent ABA Deposit Account Fraud Survey Report.
"The combination of ImagePoint Teller and TrueChecks will prove invaluable to the institutions that leverage it," said Lawrence Reaves, CEO of AFS. "Automating the transmission of routing and account numbers speeds up the fraud detection process and eliminates the chance for errors. This mitigates risk for the institution and its members, while increasing efficiency and reducing the time members must wait in line."
Andrew Tilbury, chief marketing officer of Bluepoint Solutions said, "The added value of being able to combat counterfeit checks in real-time gives financial institutions using ImagePoint Teller the ability to significantly reduce check losses. We are pleased to offer the ability for our customers to access the TrueChecks® service without altering their teller workflow."