A provider of fraud detection systems has added a regional bank client to its list.
Detica NetReveal, a unit of BAE Systems based in the United Kingdom, said Wednesday that Bank of the West is using its electronic payment fraud service to screen online, wire and automated clearing house payments. The $63 billion-asset bank also uses Detica NetReveal's Enterprise Investigation Management service to help the company address its compliance needs.
"With Detica NetReveal we have achieved a holistic and accurate view of customer behavior and significantly reduced false positives, freeing our investigators to pursue the true fraudsters," Joe Ford, the bank's chief security officer, said in a news release. "We are also pleased with the cost savings resulting from taking a single platform approach."
According to the companies, Bank of the West, which has 700 retail and commercial banking locations in 19 states, will install Detica NetReveal's platform company-wide.