Check Positive Pay
Fiserv partners with ACH Alert to offer two components of the latter's Fraud Prevention HQ product suite: ACH Positive Pay and Check Positive Pay.
Highlights
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Flexibility
Check Positive Pay that can work with core systems or independently.
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Control
Payee and reverse positive pay supported.
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Self-Service
Accountholders can police their own accounts by responding to actionable alerts for suspicious payment transactions.
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Options
Offered with or without account reconciliation services.
Overview
Fiserv partners with ACH Alert to offer two components of the latter's Fraud Prevention HQ product suite: ACH Positive Pay and Check Positive Pay.
Fraud Prevision HQ is a multi-channel payment fraud monitoring solution. Accountholders can police their own accounts by responding to actionable alerts regarding suspicious ACH and check payment transactions.
This solution helps move fraud monitoring out of the backroom and into the hands of paying customers, transforming what used to be a cost center into a lucrative new non-interest fee income stream. Automated billing (analysis and ACH rate card options) yields significant fee income for financial institutions.
ACH Positive Pay and Check Positive Pay boast single sign-on with most online banking systems. While manual client enrollment and account registration is easy, financial institutions can opt to leverage entitlement API capability to automate that process.
Because the solution is modular in design, financial institutions can choose which of the two fraud monitoring modules they want to implement and provide to their accountholders.
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