SQN Banking Systems Introduces Real-Time Fraud Analysis
Poster: SySAdmin
Posted on October 13, 2011 at 10:14:02 AM
SQN Banking Systems Introduces Real-Time Fraud Analysis
SENTRY: Fraud Alert(TM) Augments Existing Systems to Reduce Check Fraud Losses at Point of Presentment
RANCOCAS, N.J., Oct. 13, 2011 /PRNewswire/ -- SQN Banking Systems (sqnbankingsystems.com), a leading provider of integrated fraud detection and process improvement products for the financial industry, today introduced SENTRY: Fraud Alert(TM), a new solution that will give financial institutions real-time, front-line protection against check fraud.
Designed to enhance SQN's suite of Web-based fraud detection and workflow applications, SENTRY: Fraud Alert allows image-enabled banks to perform automated signature verification, image fraud analysis, transaction analysis and official check verification at point of presentment. The innovation enables banks to validate a check's authenticity at the teller line and automated teller machines (ATMs) before any cash is dispensed.
"Historically, financial institutions that employ check verification and fraud prevention solutions have to wait until the check reaches the back office, which can be a day or two after the money has left the bank," said Joe Uhland, President of SQN Banking Systems. "SENTRY: Fraud Alert offers a significant new opportunity for banks to reduce potential losses much earlier in the process, giving their existing anti-fraud measures an extra line of defense."
In addition to allowing the bank to catch more "on us" fraud at the point of presentment, reducing potential losses on Day One, SENTRY: Fraud Alert also can help reduce the workload of operators in the days that follow by flagging potential fraudulent checks before they reach the back office.
Created with Service Oriented Architecture (SOA) for seamless integration with other SQN products, SENTRY: Fraud Alert provides immediate feedback if check fraud is suspected for more than two dozen reasons, including invalid check stock or signatures; serial numbers that are out of range or have been declared stolen; debit or credit transactions that are uncharacteristic in volume or amount; and countless other signs of potential fraud.
SENTRY: Fraud Alert's architecture also allows other companies to incorporate SQN's fraud detection capabilities into their teller software as well. Developers interested in integrating SENTRY: Fraud Alert into their teller workflow software are encouraged to contact Stan Jaslar, SQN's Chief Technology Officer, at sjaslar@sqnbankingsystems.com.
About SQN Banking Systems
Located in Rancocas, New Jersey, SQN Banking Systems sets the standard for fraud detection and process improvement software in the financial services industry. For nearly 30 years, financial institutions of all sizes have relied on SQN because its suite of SENTRY products delivers improved earnings for customers and can reduce check fraud losses by as much as 84 percent. SENTRY includes exception item processing, image fraud detection, automated signature comparison, signature verification and display, transaction analysis and safe deposit operations management. For complete details on SQN and its line of SENTRY products, visit sqnbankingsystems.com.
Contact: Peter Hale
978.388.3100 ext. 17
phale@mcdougallduval.com
SOURCE SQN Banking Systems
SQN Banking Systems
Web Site: http://www.sqnbankingsystems.com
SENTRY: Fraud Alert(TM) Augments Existing Systems to Reduce Check Fraud Losses at Point of Presentment
RANCOCAS, N.J., Oct. 13, 2011 /PRNewswire/ -- SQN Banking Systems (sqnbankingsystems.com), a leading provider of integrated fraud detection and process improvement products for the financial industry, today introduced SENTRY: Fraud Alert(TM), a new solution that will give financial institutions real-time, front-line protection against check fraud.
Designed to enhance SQN's suite of Web-based fraud detection and workflow applications, SENTRY: Fraud Alert allows image-enabled banks to perform automated signature verification, image fraud analysis, transaction analysis and official check verification at point of presentment. The innovation enables banks to validate a check's authenticity at the teller line and automated teller machines (ATMs) before any cash is dispensed.
"Historically, financial institutions that employ check verification and fraud prevention solutions have to wait until the check reaches the back office, which can be a day or two after the money has left the bank," said Joe Uhland, President of SQN Banking Systems. "SENTRY: Fraud Alert offers a significant new opportunity for banks to reduce potential losses much earlier in the process, giving their existing anti-fraud measures an extra line of defense."
In addition to allowing the bank to catch more "on us" fraud at the point of presentment, reducing potential losses on Day One, SENTRY: Fraud Alert also can help reduce the workload of operators in the days that follow by flagging potential fraudulent checks before they reach the back office.
Created with Service Oriented Architecture (SOA) for seamless integration with other SQN products, SENTRY: Fraud Alert provides immediate feedback if check fraud is suspected for more than two dozen reasons, including invalid check stock or signatures; serial numbers that are out of range or have been declared stolen; debit or credit transactions that are uncharacteristic in volume or amount; and countless other signs of potential fraud.
SENTRY: Fraud Alert's architecture also allows other companies to incorporate SQN's fraud detection capabilities into their teller software as well. Developers interested in integrating SENTRY: Fraud Alert into their teller workflow software are encouraged to contact Stan Jaslar, SQN's Chief Technology Officer, at sjaslar@sqnbankingsystems.com.
About SQN Banking Systems
Located in Rancocas, New Jersey, SQN Banking Systems sets the standard for fraud detection and process improvement software in the financial services industry. For nearly 30 years, financial institutions of all sizes have relied on SQN because its suite of SENTRY products delivers improved earnings for customers and can reduce check fraud losses by as much as 84 percent. SENTRY includes exception item processing, image fraud detection, automated signature comparison, signature verification and display, transaction analysis and safe deposit operations management. For complete details on SQN and its line of SENTRY products, visit sqnbankingsystems.com.
Contact: Peter Hale
978.388.3100 ext. 17
phale@mcdougallduval.com
SOURCE SQN Banking Systems
SQN Banking Systems
Web Site: http://www.sqnbankingsystems.com