Redi Fraud

Redi Fraud incorporates over 200 analyses of a client’s account activity. The software is currently operational in more than 600 commercial banks and credit unions in the United States. Since its inception, the software has been recognized by leading consultants in the financial industry as “Best in Space”.

Redi Fraud analyzes ATM, ACH, POS, on-us and all deposit transactions on a client’s account for suspicious activity. The rule-based system identifies fraudulent transactions including kiting, unauthorized ACH transactions, duplicate checks, tardy items, items out of sequence, and counterfeit official checks. Then, using proprietary technology to track a client’s habits, Redi Fraud alerts the financial institution to changes in a client’s established patterns of use. For example, if an item larger than normal hits an account; if more items in a day, a week or a month come through; or if a larger transactional dollar value than usual is presented, the software flags those transactions for review.

Redi Fraud is unique in its ability to interact on a real-time basis with the teller. Because of the large and geographically diverse nature of most branch networks, teller transactions carry an extremely important weight to the institution. Redi Fraud monitors each teller transaction and alerts the teller to possible fraudulent activity on the client’s account before the transaction takes place. Most other systems review the transactions after the fact, making it much more difficult to recover any money at risk. Examples of messages alerting the teller to potential fraudulent activity include:

Duplicate Checks  Fraud Within 10 Days Out-of-sequence Checks  Fraud Near a Serial Number Dormant Activity Suspicious Routing Number on Official Checks