Check Fraud Prevention for Banks and Credit Unions

Check Fraud Prevention Solution   You Can Count On

60%

Less Check Fraud

Reduce financial losses and manual review costs with accurate detection.

5x - 20x

More Efficient

Boost decisioning with link
analysis, smart investigations, auto decisions and bulk actions.

8 Weeks

Fast Integration

Provide rapid and flexible integration with your systems and support real time and batch processing.

You Have Challenges, We Have Solutions

High volume

of fraudulent check transactions

Prevent fraud, Protect revenue

AI-powered, real-time fraud detection that identifies counterfeit, washed, and altered checks before they are processed.

False positives

Leading to legitimate transaction declines

Fewer disruptions, Happier customers

DataVisor’s dynamic Rules Engine, combined with AI Co-Pilot, reduces false positives by 50%.

Emerging tactics

New unknown fraud patterns

Detect new threats, Stay secure

Patented unsupervised machine learning identifies new fraud patterns, including sophisticated and coordinated attacks.

Multiple systems

Fragmented
customer data

One view, Smarter decisions

Comprehensive customer profiles integrate data from multiple sources, including check and transaction history, to provide a 360-degree view of each customer.

Manual reviews

Causing increased operational cost

Save time, Cut costs

Auto-decisioning capabilities and bulk actions streamline manual reviews, reducing investigation time and improving efficiency by 5x.

Want to see for yourself? Request a demo.

Enhanced Detection with Mitek’s Advanced Image Analysis

DataVisor’s AI-powered fraud detection platform includes built-in integration with Mitek’s advanced image analysis, enabling checks to be compared against consortium profiles and effectively identifying
counterfeit or altered checks using over 18 attribute scores.

DataVisor’s End-to-End Check Workflow

1. Data Orchestration

Checks are processed in real-time or through batch processing. Checks captured via mobile (Remote Deposit Capture), ATM or deposited at branches can be sent directly to DataVisor’s Real-Time API. Sending a collection of check data in batch go through a separate initial step via our Batch Runner.

2. Detection Engine

Our Detection Engine allows financial institutions to configure their strategy using a combination of rules, ML models, and additional risk signal callouts. The engine automatically evaluates each event, providing automatic decisions to accept, decline, or review.

3. Risk Signals & Customer Communication

Mitek Integration: Utilizes advanced image analysis technology to analyze checks, providing over 18 distinct attribute scores essential for assessing the authenticity and risk level of each check.

Twilio SMS Verification: Engages customers directly through SMS to verify high-risk transactions, enhancing security and customer interaction.

4. Case Management

Our Case Management equips customers with a comprehensive platform to manage workflows, queues, and decision processes.

It features DataVisor’s Knowledge Graph, a sophisticated link analysis tool that enhances investigative efficiency by visualizing data connections. Additionally, the system allows direct viewing and reviewing of check images, aiding swift case resolution

Our engagements with them have proven what a great partner they are. I’m a big advocate with my credit union peers talking about DataVisor, they’ve really earned our business.

Doug Nahas

Chief Operating Officer

Comprehensive Protection Against All Types of Check Fraud

No matter the method, DataVisor’s AI-powered platform is equipped to handle every type of check fraud. Our advanced machine learning models detect and prevent a wide range of check fraud schemes, including:

Check Kiting

Stop fraudsters from exploiting the “float” time between banks by detecting suspicious patterns across multiple accounts.

Check Washing

Detect attempts to alter legitimate checks by verifying the authenticity of the payee, amount, and other critical details.

Remote Deposit Capture (RDC) Fraud

Prevent fraud from mobile and remote deposits by identifying duplicate or altered checks in real-time.

Counterfeit Check

Identify forged checks created using sophisticated printing techniques, preventing fraudulent transactions before they happen.

Paperhanging

Stop bad actors from writing bad checks from new or closed accounts without sufficient funds.