A Better Way to Protect Your Bank from Fraud
FraudProtect Web uses innovative image analytics to help protect banks from the most common forms of check fraud - signature forgery and counterfeit checks.
"Forty percent of check fraud comes from forgeries and counterfeit checks."
(Source: ABA 2006)
How Image Based Check Screening Works
Using this innovative application, banks and data centers can effectively analyze many thousands of checks per hour to authenticate them. The solution detects even slight discrepancies in signatures and check stock. In less than one second, a determination of whether a check passes inspection is made and a confidence level is reported with notations for why the check was rejected.
Outsourced Check Processors Benefit from FraudProtect™ Web
Processing centers can take advantage of this web-based architecture to offer check fraud detection services to all existing item processing customers. Banks using Mitek's FraudProtect are up and running quickly and saw significant results in a few weeks.
FraudProtect Web represents a new revenue stream and a competitive advance for Outsourcing Service Providers.