Despite the declining check volumes in the banking industry, losses attributed to check fraud are still very significant. Fraudsters are using a myriad of methods through multiple channels, utilizing cutting edge technologies.
The Intellinx Solution
Intellinx provides cross channel analytics which can be utilized for detecting a wide variety of check fraud schemes including deposit fraud, on-us check fraud, and check kiting. The system tracks activity across multiple accounts of the same customer and detects direct and indirect links between accounts and customers.
Data Capture & Rapid Integration
Intellinx’s ability to extract data from files and databases (like traditional anti-fraud vendors) and its patented network-sniffing technology, enables the system to be deployed very rapidly to either replace or supplement your existing check fraud solutions.
Typical points of integration for check fraud projects include:
- All items file(s) from proof processing and/or alerts from legacy check fraud applications
- Images and check information from deposits made throughout the day using Remote Deposit Capture or Branch/ATM imaging
- Supplemental data collected during account opening
- Consortium check fraud alert data (e.g., Early Warning)
- Integration with check imaging systems to automatically present images to analysts and investigators
- Integration with items processing systems to automate pay/no-pay decisions
- Integration with DDA systems to automate hold/no-hold decisions
- The system profiles the activity of each account and customer and detects deviations and suspicious activity.
- The system tracks activity across multiple accounts of the same customer and detects direct and indirect links between accounts and customers.
- Predictive modeling is used for reducing the false positive levels.
- Comprehensive Data for Investigations – Extensive information on check fraud incidents is collected from various sources to create a single source containing all relevant data for investigations, including front and back check images that are relevant to the incident.
- Flexible, User-Friendly Rule Engine and Investigation Center – The adaptability of the solution enables corporate investigators to easily adjust scoring parameters, calculation methods and thresholds.
- Integrated with the Intellinx Enterprise Alert & Case Management – Full integration between the Intellinx Alert and Enterprise Case Management and the Intellinx Check Fraud Solution creates an effective, easy-to-use investigative environment.