A division of Jack Henry & Associates is partnering with ACH Alert to offer new products to mitigate losses from automated clearinghouse 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 April 4.
ACH C.O.P.S. provides fraud detection for outbound ACH credit and wire entries by requiring transaction-level validation after the financial institution receives the transactions and before releasing them 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, immediate control over ACH-debit approvals. Financial institutions can allow customers to determine their own debit notification parameters, notification methods and contact information.
ACH Alert provides ACH and wire risk management services.
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