Advanced Fraud Solutions signs agreement with Fiserv

The agreement will allow Fiserv financial institution clients to automate check fraud detection, risk-based funds availability, and decisioning processes, helping to prevent losses and identify fraudulent deposits before they are accepted.

TrueChecks from AFS will enable Fiserv clients to mitigate fraud, prevent losses, and protect account holders by providing a proactive, at-the-point-of-presentment approach to check fraud detection. Accessible through a web portal or integrated through an API, TrueChecks delivers real-time responses on counterfeit, nonsufficient funds (NSF), Closed Account, Duplicate, and other fraudulent items, regardless of the deposit channel.

TrueChecks will be available to Fiserv clients for batch deposits made in any channel, and will provide real-time responses for mobile deposits and those made via tMagic for DNA, which automates the capture, imaging, and entry of paper-based transactions directly into the DNA account processing platform from Fiserv.

With this new risk mitigation offering, Fiserv clients have access to robust options to help prevent losses and identify fraudulent deposits before they are accepted. TrueChecks can be applied across deposit channels, from the teller to mobile and remote channels – including ATMs and ITMs – to ensure all deposit channels are protected.