Guaranty Bank Selects ACH Alert's COPS for Fraud Protection

Guaranty Bank will use ACH Alert to provide accounts with real-time, actionable alerts for payment and protection from potential account takeover involving of automated clearing house (ACH) and wire transactions.

Guaranty Bank plans to implement ACH Alert’s Credit Origination Positive-pay Service (COPS) this year with a complete roll-out schedule to begin early in 2013. COPS is a patent-pending technology providing a multi-layered system of protection using different controls at different points in a transaction process. Upon notification, the bank’s customer can either confirm or reject the transaction when ACH or wire origination is attempted to unfamiliar account/routing numbers.

“ACH Alert’s COPS gives us one more tool in our toolbox to protect our customers from fraudsters,” said Ken Johnston, chief information officer (CIO) and vice president of information systems, Guaranty Bank. “COPS uses out-of-band notifications to easily give our customers complete control of their accounts and effectively complements our multi-layer strategy to protect our customers from suspicious account activity, essentially deterring an account takeover.”

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