Model, detect, intercept, investigate and resolve attempts to electronic payments frauds: the real value of Fiserv.

It is always a duty at Connectikpeople.co, to talk about electronic payment frauds, or financial services technology solutions. With the growing demand for mobility, risks, threats and frauds related to electronic payments, gain in sophistication and proliferation.

As part of our global commitment with Active Digital and DevCorner, Connectikpeople.co recommends to organizations, when it comes to electronic payment fraud prevention, to focus on an end-to-end method to model, detect, intercept, investigate and resolve attempts to steal funds from customer accounts through electronic payments such as ACH, SEPA and wire.

Connectikpeople.co is progressively impressed by Fiserv (provider of financial services technology solutions), in terms of vision and fruitions, when it comes to electronic payment fraud prevention.

Its new real-time electronic payments monitoring capabilities to prevent fraud, captured by Connectikpeople.co for you, covers both international and domestic payments for Automated Clearinghouse (ACH) and wire (Fed and SWIFT), and complement the enhanced SWIFT Sanctions Screening capabilities.

Connectikpeople.co observes that, its payment fraud prevention solutions focus on an end-to-end method to model, detect, intercept, investigate and resolve attempts to steal funds from customer accounts through electronic payments such as ACH, SEPA and

wire.

Organizations can leverage on cross-channel view of customers and their behavior. The system can continuously builds intelligence for each customer, account and other entities relevant to the ACH process to support accurate detection on anomalies. The detection capabilities can be seamlessly integrated with an organization’s compliance activities such as collecting notes and evidence, tracking financials and preparing regulatory reporting. And more.

Regarding the Wire Fraud Prevention from Fiserv, it brings scalable capabilities; it can evaluate wire transfers and interdict suspected fraud, looking for anomalies and other characteristics that indicate fraud risk.

Connectikpeople.co also observes that, the system can continuously updates normal behavior profiles for each customer, account and other entities relevant to the wire such as the user, originator, account, device, intermediary or beneficiary.

In terms of SWIFT Sanctions Screening , the solution now supports all MT formats including unstructured text screening and guided match review for 700-and 900-series messages, as well as targeted screening for specific entity types (such as vessels) to further reduce false positives.