A division of Jack Henry & Associates (JKHY) has partnered with ACH Alert to offer new products to mitigate losses from ACH and wire fraud.
ProfitStars will offer ACH C.O.P.S. and ACH A.L.E.R.T. to financial institutions using its ACH Client and Enterprise Payment Solutions platform, Jack Henry, based in Monett, Mo., said Tuesday.
ACH C.O.P.S. provides fraud detection for outbound ACH credit and wire entries by requiring transaction-level validation after transactions are received by the financial institution and prior to them being released to a payment network. It provides out-of-band authentication for ACH credit and wire transfers by requiring customer approval of all suspect ACH and wire transactions.
ACH A.L.E.R.T. offers ProfitStars customers actionable, real-time control over ACH debit approvals. Financial institutions can allow each customer to determine their own debit notification parameters, notification method and contact information.
ACH Alert provides ACH and wire risk management services.