Chesapeake Partners with A2iA to Combat Bank Payment Fraud
Chesapeake System Solutions, a provider of financial governance, risk management and compliance software solutions, has integrated A2iA CheckReader, a cheque-processing toolkit, into its T-Recs Enterprise reconciliation system to offer advanced bank account reconciliation and positive pay functionality.
T-Recs provides banks with a robust, scalable, service oriented architecture (SOA) that integrates with existing back office systems. The solution delivers its advanced functionality in a server environment, lowering operational costs and facilitating innovation in the delivery of high profile, fee-generating cash management services. T-Recs’ browser client makes it simple to offer web-based services to corporate customers and allows banks to do so at a lower cost. It delivers standard (next day and same day), payee, automated clearing house (ACH), wire, teller and reverse positive pay services with image integration for initial scrubbing and customer pay/no-pay decisions.
Jean-Louis Fages, A2iA president, said: “Positive pay is a topic gaining more attention in the industry today, especially as attempts at fraud become more sophisticated. Chesapeake is leading the way in this market niche, and A2iA is proud to partner with such a forward-looking organisation. A2iA CheckReader’s precision-engineered advanced image analysis and proprietary recognition engines offer fast read-rates and unparalleled accuracy, which complement the functionality T-Recs Enterprise offers.”