BAYTOWN, Texas – John M. Floyd, the provider of overdraft protection programs for credit unions, said yesterday it has acquired Vigilance Financial Systems, LLC, a n Austin, Texas, provider of fraud detection software. Under the deal, privately-held Floyd will acquire the rights to Vigilance Financial’s FraudSWEEP fraud detection and authentication software and rename it JMFA Fraud Manager. The system will evaluate every incoming check and Automated Clearing House transaction for indications of fraud, in order to identify counterfeit checks, forgeries, unauthorized drafts and unusual payment activity. Financial terms of the deal were not disclosed.
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