With Great ACH Comes Great Responsibility

May 6, 2020 by Libby Kane

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Better Business Banking

Apiture’s ACH Fraud Prevention Partnership

As ACH payments continue to rise, The Federal Reserve System found that fraud is outpacing ACH payment growth with ACH fraud rising to $1.2 billion in 2015, a rise of two hundred million from 2012. Apiture was founded with a security-first value proposition, leading to movement to the AWS secure cloud, a fully-staffed 24/7 technical support team, and key security-first partnerships. Fraud prevention is ingrained into every process and product Apiture offers. For our cash management solutions, Apiture has teamed up with the leader in ACH fraud prevention, ACH Alert, to provide clear and immediate  information for your users to be empowered and confident in their ACH transactions.

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Apiture’s already industry-leading cash management tools have streamlined the processes for your users to get back to business faster. Through user-centric research, Apiture has optimized the ACH experience, utilizing an ACH Wizard as a one-stop shop for batch processing needs.

Teaming up with ACH Alert provides the best-in-breed ACH solutions, with the best in security – giving your users ease of use and confidence in your institution. The ACH Alert partnership brings tools right to you users in a dashboard. These tools prevent, take action and alert users about suspicious and atypical transactions. With Apiture and ACH Alert’s arsenal of tools, your users and your institution can provide the best ACH experience in the market.

Fraud Prevention HQ

Your users’ custom and fully integrated dashboard to make payments or no-pay decisions on suspicious ACH and wire transactions via a single sign-on. Empower your users with fraud monitoring tools that open up new non-interest fee income streams. With customization and SSO for your digital banking platform, this dashboard gives your users immediate access and security across SMS text, IVR, voice biometric and one-time PINs for multi-level protection.

PRO-TECH

Reduce operational costs for your financial institution with this ACH positive pay solution. Your users’ real-time debit approval process triggers an actionable alert when an ACH debit hits the account, enabling account holders to catch fraudulent entries immediately. Automate dispute resolution with electronic written statement capabilities, all right from within your users’ daily ACH flow. With account-holder customization, your users will be able to safeguard against fraudulent entries, while having automaton in place for known and recurring.

PRO-CHEX

With this novel check positive pay service, financial institutions can improve operational efficiencies in real-time. PRO-CHEX accepts and matches capture data with imported/keyed issuance data. Account-holders are notified by  institution branded alerts for pay decisions. PRO-CHEX also accommodates for the need for specifically formatted files with a data mapping wizard that is easy to use and eliminates time to process. Payee and reverse positive pay supported.

COPS

Credit Origination Positive-pay Service: By putting control in your account-holders’ hands, COPS is designed to prevent losses from account takeover and to alert account holders when suspicious ACH transactions are originated. This service will allow your users to verify transactions through a trusted channel. COPS provides multiple layers of security within a single application to defeat the fraudsters and achieve FFIEC compliance. With COPS, the validation process begins before the funds leave your financial institution and trigger one-time codes for batch approval of exception items. Among one-time or recurring approval action items, COPS helps your account-holders approve with safety and ease.

Bio-Wire

Stop wire fraud in real-time, eliminate call backs, increase operational efficiencies and improve the customer experience.  ACH Alert establishes a unique 800 number for the financial institution in our interactive voice response system. Bio-Wire systematically analyzes the wire content, applying the individual rule sets established for the customer by the FI. If a rule set is violated, the customer is alerted and called to action.

In an age where email phishing and account takeovers are daily battles, Bio-Wire works to put wire control in your account-holders’ hands. Using IVR and voice biometrics. Your account-holders will be alerted when any business rules are violated and they will be prompted to call in for wire acceptances and rejections. Bio-Wire automatically automates scans of online, fax and email wire requests and immediately notifies if an approval is needed. An approver will have voice matching technology verify their identity, and will verify the wire details for approval or rejection. 

PDX

When your account-holders need information they need it quickly and entirely. With PDX your financial institution will delivers translated EDI information contained within incoming ACH files, as well as NOC and ACH return information to business account holders, so your account-holders won’t have to go looking for what they need.


In this stage of the digital transformation age, just offering basic actionable capabilities is not enough. Financial institutionsneed to safeguard their users and give them the ability to detect and take action against potential fraud within treasury management systems that omit the need for additional automation. Put the tools in your users’ hands to control suspicious activities and position your institution as the go-to solution provider for business transactions.

ACH Alert has provided patented, innovative fraud detection services to financial institutions ranging from community banks to top tier financial institutions since 2007. Relying on more than 25 years of industry experience, ACH Alert assists financial institutions in mitigating the risks associated with electronic payments.