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Average Ratings 0 Ratings

Total
ease
features
design
support

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Write a Review

Description

TrueChecks is an innovative solution for detecting check fraud in real-time, leveraging a consortium-driven approach that halts fraudulent deposits as they are presented by cross-referencing each item with the largest cooperative database in the industry, which includes over 15 years of account- and item-level records from numerous financial institutions. It offers effortless integration through a secure web portal or RESTful APIs that connect with existing image-capture systems, core processors like FIS, Jack Henry, and Fiserv, as well as mobile and ATM channels, ensuring comprehensive protection across all transaction methods. TrueChecks employs cutting-edge techniques in field detection, text classification, and interpretation to swiftly identify counterfeit, duplicate, non-sufficient-funds (NSF), closed-account, and altered checks, providing immediate notifications to tellers and back-office personnel. The platform's cloud-based architecture not only enhances scalability but also minimizes the need for extensive infrastructure, making it an efficient solution for financial institutions. With its ability to adapt to various operational environments, TrueChecks stands out as a vital tool in the fight against check fraud.

Description

Traditional check-clearing methods primarily assess the legal and courtesy limits of check amounts, often resulting in low-risk scores and the potential for false positives. In contrast, Tungsten FraudOne software enhances the detection of counterfeit checks through an innovative fraud scoring engine, which can be integrated with various verification tools to more effectively uncover sophisticated fraud schemes. By utilizing adaptable fraud detection strategies during both the capture and clearing stages, particularly as transaction methods like mobile deposits evolve, businesses can significantly streamline their processes. This solution minimizes the labor-intensive manual review of false positives by effectively differentiating between questionable and valid items. Moreover, it bolsters customer assurance by providing safeguards against signature forgery, check alterations, and fraudulent discrepancies. With improved accuracy, organizations can identify a greater number of suspicious checks in a shorter period, enabling them to scrutinize all checks, not just those of high value. Ultimately, this leads to a more efficient and trustworthy check verification process.

API Access

Has API Yes 

API Access

Has API No 

Screenshots View All

Screenshots View All

Integrations

FIS Digital One Yes 
Fiserv Yes 
Jack Henry Loan Origination Yes 

Integrations

FIS Digital One No 
Fiserv No 
Jack Henry Loan Origination No 

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Types of Training

Training Docs Yes 
Webinars Yes 
Live Training (Online) Yes 
In Person No 

Types of Training

Training Docs Yes 
Webinars No 
Live Training (Online) Yes 
In Person No 

Vendor Details

Company Name

Advanced Fraud Solutions

Founded

2007

Country

United States

Website

advancedfraudsolutions.com/solutions/truechecks/

Vendor Details

Company Name

Tungsten Automation

Founded

1985

Country

United States

Website

www.tungstenautomation.com/products/fraudone

Product Features

Product Features

Fraud Detection

Access Security Management No 
Check Fraud Monitoring No 
Custom Fraud Parameters No 
For Banking No 
For Crypto No 
For Insurance Industry No 
For eCommerce No 
Internal Fraud Monitoring No 
Investigator Notes No 
Pattern Recognition No 
Transaction Approval No 

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