LINDEN, N.J.--(BUSINESS WIRE)--IMM, a pioneer of integrated eSignature, workflow, and document solutions for the modern business enterprise, and Advanced Fraud Solutions (AFS), a CUSO formed in 2007 to combat financial fraud, have expanded their existing partnership. Initially collaborating in 2012 to help IMM’s financial institution clients more effectively mitigate fraudulent check transactions at the teller line, the companies have since strengthened the partnership and integrations between IMM’s Teller Item Capture and AFS’s TrueChecks™ to provide even faster, virtually real-time notification of potential fraudulent check transactions.
Through this expanded partnership, clients using IMM’s Teller Item Capture will receive enhanced functionality, including:
- Regulation CC recommended holds for every high risk transaction;
- Enhanced duplicate detection features;
- Access to additional fraud data sources; and
- New high level reporting capabilities.
“Check fraud continues to rise at double digit rates year over year,” said Lawrence Reaves, president and CEO of AFS. “The strengthening of this partnership now allows IMM’s clients to take advantage of the latest functionality to meet this growing fraud threat. Partnering with IMM, which has integrations with all major cores in addition to a wide customer base, enables AFS to extend the value of our technology to prevent more high risk transactions.”
Additionally, IMM is now offering AFS’s solution directly to its customers through the Teller Item Capture platform. From the onset, the collaboration has also included the AFS integration with Deposit Chek® Service from leading fraud prevention company Early Warning. Real-time alerts equip tellers with the most accurate information and decrease losses from returned items and counterfeiting schemes.
“Our existing partnership with AFS allows us to better assist banks and credit unions mitigate high risk losses and protect consumers,” said Nish Shah, chief technology officer, IMM. “As fraudsters become even more sophisticated in developing new schemes, the progression of our relationship with AFS enables both companies to jointly broaden the scope of risk mitigation by averting fraudulent attacks.”
Teller Item Capture interfaces directly with a financial institution’s core platform; the coordination with TrueChecks gives tellers real-time visibility and provides alerts of potentially fraudulent transactions. The fraud and loss prevention detection is embedded directly into IMM’s teller application to streamline frontline workflow and create a seamless experience at the teller line.
About IMM
Based in Linden, N.J., IMM develops and delivers innovative technology solutions that enable financial institutions to electronically streamline their business operations and processing environments. With a strong and secure legacy of serving more than 650 banks and credit unions with solutions for eSignature capture, business process (workflow) automation, and document presentment, IMM continues to create advanced software applications that promote clients’ sustainability while dramatically increasing productivity and operational efficiencies. The company is a longtime advocate of eSignature adoption and education, active in ESRA to advance the public’s understanding of issues surrounding the use of electronic signatures and records.
For more information, visit www.immonline.com or connect with the company on LinkedIn, Facebook and Twitter @imminfo.
About AFS
Advanced Fraud Solutions delivers loss prevention tools for the front lines of financial institutions, providing same-day batch solution for identification of high-risk transactions that include frontline, remote, ATM, or additional channels. For more information, please visit AdvancedFraudSolutions.com.
