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Refine Intelligence launches new solution for mitigating check fraud

Friday 21 June 2024 10:41 CET | News

Anti-Money Laundering company Refine Intelligence has launched its Digital Customer Outreach for Check Fraud Prevention solution for banks to mitigate check fraud. 

In a bid to address the current environment, where check fraud has been expanding substantially due to mail theft and advanced counterfeit techniques, Refine Intelligence introduced its Digital Customer Outreach for Check Fraud Prevention solution. The service responds to the significant caseload of fraud analysts, working with any existing check fraud detection system, as it automatically reaches out to customers whose checks were flagged as suspicious. Through Refine Intelligence’s service, users can engage in a digital inquiry that can be completed on a mobile phone or desktop. It enables them to review the alerted check and verify critical information, including beneficiary and amount. Following this, their response is routed to the relevant operational teams.

Refine Intelligence has launched its Digital Customer Outreach for Check Fraud Prevention solution for banks to mitigate check fraud.

Refine Intelligence’s development strategy

According to Refine Intelligence’s officials, fraud teams are under pressure to deal with the increase in alerts about potentially fraudulent checks. By launching this solution, the company focuses on bridging the gap between detection and prevention by allowing customers to resolve alerts themselves. In addition, the solution can be integrated into any detection system, which can improve the current workflow and minimise fraud losses and operational costs for managing fraud claims.

Furthermore, Refine Intelligence’s Digital Customer Outreach for Check Fraud Prevention is set to deliver an automated alternative to connecting with a customer by phone. A digital inquiry is sent to the customer automatically when a check fraud requires attention, with them being able to review the check and validate critical elements. Also, when it comes to banks, they can adjust the questions and workflows depending on their operational needs, whilst enabling them to enhance their fraud prevention efforts and minimise intrusion for busy customers.

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Keywords: product launch, fraud prevention, fraud management, fraud detection, online fraud
Categories: Fraud & Financial Crime
Companies: Refine Intelligence
Countries: World
This article is part of category

Fraud & Financial Crime

Refine Intelligence

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