Convert check fraud loss into check fraud prevention.

Fraudsters, continually experimenting and evolving their tactics, render rule-based check fraud solutions ineffective. Traditional fraud monitoring rules for check deposits not only generate a large number of false positives, but also are not sufficient enough to catch cleverly engineered fraud such as check kiting schemes. Today, check fraud continues to cause extensive financial losses for financial institutions.

Early detection is key to converting check fraud loss into fraud prevention. Xceed Check Fraud Detection utilizes machine learning to learn an individual user’s behavior by analyzing check transaction patterns, and identifying unusual activity deviating from a user’s normal behavior pattern. The ability for Xceed Check Fraud Detection to alert the fraud team based on ranked risk for the right individual greatly reduces false positives. This enables a financial institution to increase fraud operation efficiency by allowing fraud analysts to spend more time on an actual investigation.

Xceed Check Fraud Detection monitors, analyzes, and calculates a risk score for every check transaction, providing fraud prevention for check deposits and withdrawals across all channels.