Multi-payment channel fraud prevention specialist ACH Alert has forged a strategic partnership with digital banking solution provider Apiture. The collaboration will enable Apiture’s 450+ customers to benefit from the combination of ACH Alert’s fraud detection services and Apiture’s online cash management solutions.
“This partnership demonstrates the industry’s need for sufficient fraud prevention tools that can be easily accessed by account holders through their online banking platforms,” ACH Alert CEO Debbie Peace said. “Apiture is already equipping financial institutions with quick and straightforward payment options that their customers crave, so adding our tools into the mix will assist their customers in mitigating the risks associated with electronic payments.”
ACH’s Fraud Prevention HQ platform enables account holders to play a more active role in the fraud fighting effort. The technology allows them to customize actionable alerts and accept or deny suspect transactions in real-time whether they are in the form of ACH, check, or by wire – before funds are withdrawn from the account. ACH Alert also leverages out-of-band verification using voice biometrics for handling high risk transactions.
Named “The Best Solution for Customer Experience” by FinXTech, and recognized by American Banker in its “Best Fintech to Work For” roster this year, Apiture was founded as a joint venture between First Data Corporation (now Fiserv) and Live Oak Bank in 2017. The partnership with ACH Alert will enable FIs using Apiture’s online banking platform to contract for the various fraud detection and prevention services available on ACH Alert’s Fraud Prevention HQ platform. These services include wire transfer protection, as well as credit origination, check, and ACH positive pay. Together, the services give FIs the ability to automate dispute resolution, provide business customers with greater control over the payments they accept, and fight cybercrimes such as account takeover.
“ACH Alert has long provided the industry standard for fraud protection for many of our customers,” Apiture President Chris Cox said. “Formalizing this partnership will enable us to bring a more unified experience to our online banking customers.”
Tennessee-based ACH Alert demonstrated its fraud prevention technology at FinovateSpring 2017. The company began this year with the launch of the latest Payment Data Xchange (PDX) service module for its Fraud Prevention HQ platform. Founded in 2007, ACH Alert was the recipient of the Kevin O’Brien ACH Quality Award in 2012 – the highest award for quality in the ACH Network industry.