|By PR Newswire||
|August 7, 2014 10:00 AM EDT||
ENGLEWOOD CLIFFS, New Jersey, August 7, 2014 /PRNewswire/ --
Intellinx Ltd., the innovative leader in enterprise fraud management announced today the general availability of its check fraud solution which provides accuracy and timeliness of fraud detection to minimize financial losses. The system tracks multiple indicators of suspicious activity across customer, account and check data and combines this information with internal and external user activity collected using Intellinx's unique sniffing technology.
Check fraud is still a major concern. Close to 90 percent of financial professionals claimed to have experienced check fraud, and 82 percent of respondents reported that checks were the primary target for fraud according to the 2014 Payments Fraud and Control survey. An increase in mobile deposits and e-banking is making financial institutions more vulnerable. American Banker reported that 10% of people who used their cellphones to make a deposit had it returned to the originating institution due to fraud.
Utilizing advanced and predictive analytics the Intellinx Check Fraud Solution has comprehensive detection capabilities based on integration with core systems, check processing systems, image sources and archives (ATM, teller, RDC, etc.), returned items feed and return checks. All this data is correlated with real-time monitoring of employee activity to identity potential collusion of insiders and external crime rings.
The Intellinx Check Fraud Solution integrates seamlessly with the Intellinx Enterprise Alert & Case Manager. Information is shown in an intuitive way matching the investigation process with the ability to display all relevant information including past account activity and check images for each alert. Business users can define business rules and choose the best way to correlate activity from different systems and display system data.
"Check fraud continues to plague financial institutions and indications are it will continue to be a threat," said Boaz Krelbaum, Intellinx Co-founder, CTO and US General Manager. "The Intellinx Check Fraud Solution is another example of how Intellinx continues to lead the market with cross channel fraud detection systems that effectively minimizes risk and financial losses for financial institutions."
About Intellinx Ltd.
Intellinx Ltd., the innovative leader in enterprise fraud management, protects organizations from internal and external fraud and data theft. The Intellinx anti-fraud suite provides a rich set of solutions on one unified platform including enterprise alert and case management, employee fraud, web fraud, check fraud and others. Intellinx's patented agent-less technology captures application data directly from the network providing a detailed forensic audit trail with unparalleled visibility into user activity with no overhead. By applying powerful analytics based on behavior profiling Intellinx detects and stops suspicious behavior in real time. Intellinx enables seamless compliance with government regulations (including PCI, GLBA, FACTA Red-Flags, Sarbanes-Oxley, Basel II and AML). Recognized by a leading analyst firm as the number one supplier of internal fraud protection, with the simplest deployment, Intellinx serves over 150 large and medium sized financial, healthcare, government and telecom organizations worldwide including ten of the largest fifty banks. For more information, please visit http://www.intellinx-sw.com.
SOURCE Intellinx Ltd