Real-time status notification
In partnership with industry-leading fraud prevention and risk management company Early Warning℠, ImageCenter AlertCenter provides advanced notification on potential returns, enables loss avoidance, helps detect new account fraud, and expedites funds-availability decisions on transit checks accepted at the teller window, as well as in the back office for other deposit channels.
Account statuses for a majority of US deposit accounts are updated nightly in Early Warning’s database to provide both positive and negative responses on deposited transit checks, validating the existence and status of share draft accounts, answering the questions, “Does the account exist?”; “What is the account’s associated risk?”; and “What is the likelihood of the item being returned?”
AlertCenter uses account-level and item-level status responses to detect, and even predict, fraud. It does this by analyzing millions of open, closed, and overdrawn share draft accounts and transactions daily. AlertCenter also investigates checks that are drawn on credit cards or brokerages; and stop payment matches and accounts with recent return activity. Based on this information, AlertCenter assigns a predictive score, indicating risk levels and possible counterfeit schemes. In turn, this information is used to place automated holds and to help staff analyze the necessity of placing manual holds.
What It Does
- Analyzes millions of transactions daily to identify potentially fraudulent transactions early in the fraud cycle.
- Calculates and assigns a score to all incoming transactions based on account-level and item-level status responses.
- Accelerates preventative action, including placing or extending holds per Regulation CC.
What It Does For Me
- Protects credit unions by identifying and preventing fraud before it occurs.
- Expedites the resolution of fraud-related issues.
- Safeguards credit union and member assets.
- Enables proactive responses to emerging fraud challenges.