How this Fraud Detection Solution Fights Fraud
bankingciooutlook

How this Fraud Detection Solution Fights Fraud

By Banking CIO Outlook | Wednesday, November 13, 2019

The strategic collaboration is providing businesses and users with an advanced fraud detection solution to thwart fraudulent activities.

FREMONT, CA: A leader in deposit fraud detection software, Advanced Fraud Solutions (AFS), has collaborated with SQN Banking Systems, a leading provider of integrated fraud detection products for the finance industry. This is a strategic collaboration that will provide customers with an enhanced omnichannel transit check fraud detection solution. The partnership will also equip AFS clients with the industry's premier solution for on-us fraud prevention. SQN and AFS collaboration integrate TrueChecks®, AFS' industry-leading transit check fraud detection module with SQN's suite of cutting-edge solutions designed to prevent on-us fraud at financial institutions.

"Today, we are the leader of check fraud prevention working with thousands of financial institutions to stop fraud every day across the country," says Lawrence Reaves, CEO of Advanced Fraud Solutions. The collaboration of SQN and AFS will help clients detect and prevent fraudulent checks in both transit and on-us channels by combining best-of-breed technology from each firm. Using TrueChecks® and SQN's SENTRY, customers will receive real-time responses on counterfeit, NSF, Closed Account, Duplicate, and other fraudulent transit items, mitigating the potential for check fraud-related losses. SQN's SENTRY suite of fraud prevention solutions delivers impressive ROI. This collaboration is taking a proactive approach for financial institutions to safeguard against fraud and reduce losses better. 

Advanced Fraud Solutions found its mention in Top 10 Security Solution Companies by Banking CIO Outlook. Advanced Fraud Solutions is a pioneering provider of risk detection software for the financial sector. The company is on a mission to help financial institutions prevent plastic cards, check deposits, and online banking fraud by utilizing an amalgamation of its intuitive web-based software solutions at the frontline and back office. Advanced Fraud Solutions' innovative fraud prevention tools help financial institutions of every size, eliminate losses, and safeguard their financial assets, offering the level of protection that end-customers demand. Advanced Fraud Solutions' transit check fraud detection module delivers real-time responses on a counterfeit, closed account, NSF, duplicate, and other fraudulent things. It prevents plastic card fraud by determining the true point of compromise and blocking all cards at risk almost instantly.

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