New Cachet Security Feature Aims to Reduce Remote Deposit Check Fraud

  • Mar 07, 2011
Cachet Financial Solutions, which provides remote deposit capture (RDC) solutions for financial institutions, announced its CheckReview, which helps financial institutions better identify potential check fraud. Cachet will begin offering this new feature within all of its RDC offerings starting in April.

Cachet's new technology allows financial institutions greater control when reviewing digital images of checks submitted for deposit via remote or mobile deposit. With traditional RDC, customers submit checks for deposit using a desktop check scanner or a camera-equipped smartphone. Financial institutions are not able to view and validate the digital image of the check in real time. Rather, images are available for review only after the check has been deposited. Cachet's new technology changes all that.  

"With CheckReview, financial institutions can now approve or reject a scanned check before it is deposited," said Jeffrey Mack, president and CEO of Cachet Financial Solutions. "This technology really does change the way financial institutions will manage their fraud risk with RDC."

"The number-one concern for financial institutions regarding RDC is check fraud," he said. "For many, the risk of fraud has simply prevented them from offering any form of RDC to their customers. Our new technology significantly alleviates those concerns."

The proprietary software enhancement provides financial institutions the ability to view and approve a check before it is deposited. The feature can be customized for each financial institution using it. For example, some institutions might choose to use this feature for its newer customers or for checks over a certain dollar amount.

"This is a significant enhancement," said Mack. "From a security standpoint, we believe this will be one of the most important developments in fraud prevention since RDC was introduced."

Cachet will feature CheckReview at the upcoming NACHA Payments 2011 Convention and Expo, April 3-6 in Austin, Texas. "The great thing about CheckReview," Mack said, "is that it can be added to all our RDC Select products; Select Business Mac & Windows, our commercial solutions; and Select Mobile, our consumer mobile deposit solution."


Featured

  • Report: Physical Security Market Turning to Cloud and Hybrid Solutions

    Genetec, a provider of unified security, public safety, operations, and business intelligence solutions, today shared the results of its 2024 State of Physical Security report. Based on insights from over 5,500 physical security leaders worldwide (including end users and channel partners), the report looks at the security strategies organizations are putting in place to effectively navigate the realities of a changing industry. Read Now

  • A Future in the Clouds

    The cloud has become a pervasive term in everyone’s daily work and personal lives – from the explosion of content available on Internet streaming services to remote learning to social interactions. Everyone is living cloud-based lives. Read Now

  • A Rapidly Changing Realm

    Many retail operators continue to face a daily balancing act of maintaining both an online and in-person presence. The coronavirus pandemic accelerated our adoption of online shopping, and the expectation now is that every retailer needs to be proficient in both arenas. This places a heightened emphasis on secure operations that ensure a seamless experience for the customer no matter where they pull out their credit card. Read Now

  • Secure Your Home During the Holidays

    The most wonderful time of the year can easily transform into a nightmare. Being vigilant, while still enjoying the holiday season, is possible. The holiday season is the perfect time to start implementing security measures to protect one’s home and ensure security while out and about. Read Now

Most   Popular

Featured Cybersecurity

New Products

  • Camden CV-7600 High Security Card Readers

    Camden CV-7600 High Security Card Readers

    Camden Door Controls has relaunched its CV-7600 card readers in response to growing market demand for a more secure alternative to standard proximity credentials that can be easily cloned. CV-7600 readers support MIFARE DESFire EV1 & EV2 encryption technology credentials, making them virtually clone-proof and highly secure. 3

  • HD2055 Modular Barricade

    Delta Scientific’s electric HD2055 modular shallow foundation barricade is tested to ASTM M50/P1 with negative penetration from the vehicle upon impact. With a shallow foundation of only 24 inches, the HD2055 can be installed without worrying about buried power lines and other below grade obstructions. The modular make-up of the barrier also allows you to cover wider roadways by adding additional modules to the system. The HD2055 boasts an Emergency Fast Operation of 1.5 seconds giving the guard ample time to deploy under a high threat situation. 3

  • Mobile Safe Shield

    Mobile Safe Shield

    SafeWood Designs, Inc., a manufacturer of patented bullet resistant products, is excited to announce the launch of the Mobile Safe Shield. The Mobile Safe Shield is a moveable bullet resistant shield that provides protection in the event of an assailant and supplies cover in the event of an active shooter. With a heavy-duty steel frame, quality castor wheels, and bullet resistant core, the Mobile Safe Shield is a perfect addition to any guard station, security desks, courthouses, police stations, schools, office spaces and more. The Mobile Safe Shield is incredibly customizable. Bullet resistant materials are available in UL 752 Levels 1 through 8 and include glass, white board, tack board, veneer, and plastic laminate. Flexibility in bullet resistant materials allows for the Mobile Safe Shield to blend more with current interior décor for a seamless design aesthetic. Optional custom paint colors are also available for the steel frame. 3