Positive Pay for Check & ACH
Safeguard your clients' accounts against fraud with cash management solutions
To reduce liability and the potential impacts of reputational risk, your financial institution must be prepared to fight against fraud with intuitive cash management solutions.
Minimize the risk of fraudulent activity
Positive Pay is like insurance. It’s better to have it and not need it, than need it and not have it. Easily integrate Alkami’s Positive Pay solutions into your preferred digital banking platform to protect your financial institution (FI) and business, commercial, and corporate account holders from tech-savvy fraudsters.
ACH POSITIVE PAY
Monitor incoming ACH debits and credits
ACH Positive Pay helps users stop incoming unauthorized ACH transactions. Users can easily add companies to their approved list to allow future transactions, block unauthorized companies, or set parameters for transactions such as amount limits, frequency, and start and end dates. This self-service cash management solution eliminates the need for the FI to maintain legacy, labor-intensive systems which can be prone to human error.
We make returning unauthorized ACH transactions a simple, low-cost, low-risk proposition for Receiving Depository Financial Institutions (RDFIs) by providing pre-populated Written Statements of Unauthorized Debit (when applicable), completely automating the exception handling process.
CHECK POSITIVE PAY
Detect fraudulent checks
Attract business users looking for innovative fraud mitigation and cash management solutions with Check Positive Pay. Our solution scrutinizes check information and automatically alerts users when exceptions are found to help them quickly identify fraudulent or stale-dated checks. Leverage the same technology in-branch to verify checks presented at the teller line to further alleviate losses for your FI.
Gain operational efficiencies with our complete front-end and back-end exception identification engine for standard, payee, and reverse Positive Pay.
- Payee Positive Pay provides your FI with an added level of security to eliminate altered or washed payee names by validating the payee information in addition to the check number and dollar amount.
- Reverse Positive Pay provides your FI with a solution for business, commercial, and corporate clients that issue a limited number of checks but are still looking for a tool to mitigate fraud and eliminate uploading check issue files.
ACCOUNT RECONCILIATION
Reconciliation made easy
Leverage Alkami’s Account Reconciliation solution to identify discrepancies in your business, commercial, and corporate clients’ accounting and ERP systems compared to your FI’s core system. Our cash management solution will give your FI and other account holders visibility to fraudulent transactions or incorrect amounts that have been posted. When coupled with Check Positive Pay, your FI can deliver an automated approach to partial, full, and deposit reconcilement which will help your FI eliminate manual processes, reduce the time it takes to perform reconcilement, and allow your business account holders to identify and stop fraud quickly.
ACH Returns & Notifications of Change
Notify users who originate ACH transactions when an item is returned or the originated payment contains incorrect information.
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EDI Translation
Translate complex Electronic Data Interchange (EDI) remittance information.
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Transaction Origination Security
Prepare for common attacks with a preemptive strategy that leverages Out of Band Verification.
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