ACH Alert and Fundtech Partner on Fraud Prevention
ACH Alert and Fundtech have formed a partnership to make available ACH Alert’s suite of innovative, patented fraud mitigation solutions via Fundtech products.
ACH Alert’s suite of fraud mitigation solutions enhance Fundtech’s offerings with capabilities that allow financial institutions (FIs)to mitigate incoming automated clearing house (ACH) fraud and outgoing ACH and wire fraud for their customers.
The solutions enable FIs to comply with Federal Financial Institutions Examination Council (FFIEC) guidance calling for layered security, with different controls at various points in a transaction process. FIs can also monetise these services, by selling to their customers and members. ACH Alert’s fraud mitigation tools will be available to customers of the following Fundtech solutions:
“FFIEC guidance is clear that FIs are responsible for developing processes to detect suspicious fund transfer activity,” said Deborah Peace, chief executive officer (CEO), ACH Alert. “Since FIs must address fraud and regulatory compliance, the ability to provide value-added solutions that customers demand and then monetise these solutions, turns a burden into a benefit.”