NCR and ASD Corporation Team to Bring Fraud Detection Earlier Into the Payment Processing Cycle

Friday 6 May 2005 18:24 CET | News

Move Provides Integrated Image-Based Fraud Strategy as Banks Adopt Image Exchange

NCR Corporation and Advanced Software Design (ASD) Corporation, a Canada-based company that specializes in electronic check fraud-prevention solutions, have joined forces to advance the financial industrys adoption of image-based fraud capabilities. By working together, both companies are initiating the movement of fraud detection and risk review to occur earlier in the processing cycle, during prime-pass processing, which occurs before posting, and then moving it out to the point of presentment. NCR and ASD have been working with specific banks to define an approach for integrating ASDs patented SAND® technology into NCRs ImageMark Transaction Manager system for prime-pass processing, allowing for the detection of counterfeit and altered items. Both NCR and ASD believe that in the near future the industry will move towards an environment that supports inter-bank fraud verification at the point capture. A collecting bank could share data and images with the paying bank, allowing fraud review and decision-making to happen in real time.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce