FraudOne Day Zero Cheque Fraud Detection right at the Teller

Going after the Hit-and-Runs in Cheque Fraud

The fraud is detected but the money is lost because the cheque was cashed or the account already cleared out. The best back-office fraud detection will have to deal with such issues.

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FraudOne Day Zero Solution Package

FraudOne Day Zero is the flavour form the FraudOne Solution Packages Family that focusess on cheque fraud detection and prevention for items at the teller platform. The cheque is scanned right at the teller window providing transaction information for the teller application while the cheque's image and data is send to the central server to run through the same FraudOne process as the backoffice processes cheques would do. Here the verification results are produced on the spor and reported back to the calling teller point for considerations in the transaction's approval. FraudOne Day Zero is the typical next step solution for banks that want to address fraud that was missed because it was already paid at the teller. It is also the starting solution for all banks in countries where the inwards clearing volume is small compared to the cheques processed at the teller.
FraudOne Day Zero is a real-time process versus the regular batch oriented processes of branch or central back-office in the FraudOne Day Two and FraudOne Day One solution packages. The cheque processing is not detached from the regular Teller Application. In fact, it is the Teller application that is calling the verification service of SignCheck's ICV module and that is receiving the results, because the teller application is the natural starting point and the end point of this transaction. This solution provides for integration points to payment and other branch/teller application to fit into the regular teller transaction flow. The FraudOne Day Zero process is in detail governed by how a bank decides to implement its policy, including manager overrides or other aspects of the whole transaction. The internal verification process will be set-up similar to the back-office verification process, while considering the special circumstances of cheque cashing fraud.