OOLTEWAH, Tenn.--(BUSINESS WIRE)--ACH Alert, an award-winning provider of electronic payments fraud prevention technology for financial institutions of all sizes, has experienced record growth, signing on more financial institutions in the last 12 months than the past four years combined while successfully preventing more than $388 million in fraudulent transactions. To maintain this growth and meet increased demand for the company’s fraud prevention solutions, ACH Alert also doubled its staff.
With its full suite of patented, automated fraud detection and prevention services, ACH Alert is equipped to protect all types of payments, from incoming and outgoing ACH, wire transfers and checks. As a result, ACH Alert’s cutting edge technology monitored more than $817 billion in transactions in the past year. The company’s innovative and proven approach to fraud prevention enlists the account holder by enabling the financial institution to send actionable alerts to their customer when suspicious activity is detected, allowing the account holder to stop a transaction before funds ever leave the account.
“Each year, more organizations fall victim to payments fraud and last year was a record high with 78 percent of organizations experiencing fraud according to the Association for Financial Professionals,” said Deborah Peace, AAP, chief executive officer of ACH Alert. “Our extensive product suite, including our enterprise level check positive pay service with full back-end reconcilement and payee positive pay, have helped financial institutions prevent millions of dollars in fraudulent transactions, resulting in ACH Alert’s explosive growth and increased demand for our services. As we continue to grow, we plan to use this momentum to protect a greater number of financial institutions and their account holders from payments fraud, as well as the frustration and financial loss associated with it.”
Automating fraud prevention and shifting control to the account holder is more important than ever as instances of payments fraud continue to increase. ACH Alert’s products help financial institutions accomplish this, scaling their fraud prevention capabilities while driving significant operational efficiencies. The company’s flagship product, Fraud Prevention HQ is the industry’s first exception decisioning portal that provides a fully integrated dashboard for financial institution customers to make their pay or no-pay decisions on suspicious payment activity across virtually every payment channel.
Fraud Protection HQ gives customers the ability to access ACH Alert’s full suite of fraud prevention technology, including BIO-WIRE, C.O.P.S., PRO-CHEX and PRO-TECH. The solution also includes ACH Alert’s latest services, PRO-TECH RT and PRO-TECH CR, which were launched earlier this year. These tools enable account holders to accept or reject incoming real-time payments and incoming ACH credits, respectively. With its single sign-on through most online banking systems, ACH Alert gives account holders the power to police their own accounts for all types of suspicious transactions – transforming fraud prevention from a cost center into a new fee income opportunity.
About ACH Alert
Founded in 2007, ACH Alert provides patented, innovative fraud detection services to financial institutions ranging from community banks to top tier financial institutions. Relying on more than 25 years of industry experience, ACH Alert assists financial institutions in mitigating the risks associated with electronic payments. ACH Alert is the 2012 recipient of the Kevin O’Brien ACH Quality Award, the highest award for quality in the ACH Network industry. For more information, visit www.achalert.com, or follow them on Twitter @ACHAlert, Facebook, or LinkedIn.