LAS VEGAS, NV, Sept. 30 – Digital Check announced today that a top-25 U.S. bank with over $65 billion in assets has implemented Advisor by Digital Check® to secure its remote deposit transactions and proactively strengthen compliance with regulatory guidelines. The Advisor software suite will be on display this week at the RDC Summit in Las Vegas, the premier discussion forum in the banking industry for all things remote deposit capture.
Advisor’s cloud-based geolocation capabilities allow financial institutions to pinpoint the physical location of any manufacturer’s check scanners used by remote deposit capture customers, providing a safeguard against fraudulent and prohibited transactions. By deploying Advisor’s remote-monitoring technologies to track each scanner, Advisor isolates the location of a scanner to within as little as 100 feet, and automatically triggers an alert if the scanner’s address is outside the radius of the expected location, helping the financial institution track suspicious activity.
“With increased national attention on compliance, particularly on regulations concerning prohibited transactions and ‘Know Your Customer’ (KYC) guidelines, it’s important for a bank to be aware at all times of who is actually using its services,” said Rick Ooten, Director of Product Management at Digital Check. “If we find that a scanner has switched locations, or crossed a border, for example, it indicates that the person executing a transaction is using the scanner from a location other than their registered location. Advisor helps us minimize the risk to a financial institution and prevent suspicious transactions before they occur.”
Advisor’s geolocation system is device-agnostic, meaning it will work with scanners from any manufacturer. It can be “post-deployed” silently to monitor scanners already in the field without requiring an additional setup or installation of the scanner.
“When it comes time for your annual audit, you want to be able to say, ‘I know the location of each scanner deployed by our customers, and who’s using it,’ and we want to provide that capability to as many financial institutions as possible,” said Ooten. “The reality is that while these rules are called guidelines, regulators are making it clear they had better be followed like requirements. Advisor helps banks to comply with the guidelines and implement best practices to stay a step ahead of fraud and risk. A bank that doesn’t have this type of technology is leaving itself exposed to severe liability.”
With Digital Check-branded scanners, Advisor offers greater capability to remotely monitor scanner activity and performance monitoring, enabling remote troubleshooting and proactive maintenance to keep scanners working as intended. Advisor; a cloud-based remote management platform powered by Esprida, is a ready-to-deploy solution with open architecture and extensive integration that leverages standard technologies and forward thinking designs to ensure true enterprise class performance. For more about Advisor, contact Digital Check’s sales department or visit www.staging.digitalcheck.com.