Same Day ACH

QPS Drives Same Day ACH Payments Faster Than Fraud

Why Financial Institutions Shouldn’t Ignore New Fraud Risks When It Comes To Payment Security?

NACHA report states that Same Day ACH (SDACH) has been responsible for over 75.1 Million transactions amounting to $87.1 Billion, the pace of SDACH means that financial institutions (FIs) and credit unions may encounter higher fraud cases, enhanced strain on their budgets and more operational challenges. New methods of faster funds availability such as same day ACH and same-day bill payments create more options for customers but they pose a severe threat for increased fraud risks too. Same Day ACH is turning trendy because of the single day settlement window but it imports high-intensity fraud threats.

Human Intervention with Machine Intelligence Is the Key to Fraud Mitigation

QPS with its extensive and varied experience in cross-channel fraud detection offers highly focused, end-to-end (E2E) same day ACH fraud mitigation services, available 24*7*365 days. This is especially beneficial during weekends, holidays and spikes volume. QPS brings together an amalgamation of machine learning and human eye review to ensure that FIs don’t lose any time and money against the fraud.

It is no more helpful to just flag suspicious batches without any context under the assumption that fraud prevention analysts initiate the investigation. To eliminate the weaker element, QPS fraud prevention analysts have gone beyond the traditional methods to behavioral analytics and eliminate all payment fraud from the Same Day ACH transactions.

QPS’s Innovative Fraud Prevention Solution Helps Beat the Clock

Real Time Transaction Monitoring

Real-time monitoring is the most important enhancement in the system for same day ACH fraud detection. QPS fraud prevention analysts ensure that the legitimacy of the payments are verified in a real-time environment so that there remains enough time for the settlement process to help FIs manage the ACH payments on the same business day.

Higher Accuracy with Managed False Positives

QPS ensures to invest the optimum number of resources, modern technologies and well-defined algorithms for verifying same day ACH batches and catching fraud promptly by minimizing incorrect declines.

how can we help you?

"Our use of QPS's allowed us to seamlessly and effectively extend our existing staff into after hours, weekend and holiday coverage to match the never ending efforts of the fraudsters. Their collaborative approach to partnering with Bethpage and our combined laser focus on transaction monito ring has resulted in quite significant confirmed fraud saves and a higher level of member service."

Robert Hoppenstedt/
SVP Operations and Marketing, Bethpage Federal Credit Union

Looking for a fraud prevention solution to secure transactions?