There’s always going to be someone that will try their luck in cheating a bank. Cheque fraud has been one method for as long as banks have issued cheques. With the advances in home printing solutions, the menace is as real today as it was during the analogue days.
Worldwide, billions of dollars in direct losses are incurred annually. The threat to the banks are more than just in monetary value – loss in customer confidence, loss in image and contractual relationships can be more damaging that the actual fraud.
Cheque processing is not just about pure processing efficiency and speed – it must now be fool proof in order to detect and stop fraud from happening to prevent damaging losses.
ChequeAlert is a multi-prong approach toward cheque fraud detection by address issues at cheque issuance as well as during presentment and processing.
ChequeAlert consists of a series of applications, software development kits (SDK) and hardware that can be incorporated as part of outward or inward processing workflow for the detection of cheque frauds.
- UV Detection System
- Signature Verification System
- Signature Auto-Matching System
- Positive Pay Matching with OCR/ICR and NHR