Simplici Check Defense Combats Check Fraud at Banks

Simplici Check Defense effectively discourages and halts fraudulent activities associated with check cashing

HOUSTON, TEXAS, USA, March 5, 2024 /EINPresswire.com/ -- Simplici Check Defense, an advanced fraud prevention technology, effectively discourages and halts fraudulent activities associated with check cashing, whether conducted in-branch or via ATMs, and soon, for remote cashing processes.

Simplici Defense utilizes a 30-second advanced biometric and ID verification processes to ensure the identity of the person cashing the check. "If the person is identified as a fraudster, an alert will be visible to the banker on their screen via Simplici.io and they can take necessary action. Once a fraudster is identified, they will have to get a new phone number, device, government ID and face to ever transact at a bank participating in the Simplici Information Network again," explained Austin Trombley, CEO. "If the depositor is not identified as a fraudster, the banker proceeds with the transaction as usual, with the check image captured in the Simplici Single-Source Compliance record."

Simplici Defense effortlessly gathers extensive depositor data without requiring any manual input from the user. This thorough data collection serves as a strong defense against potential fraud by identifying any suspicious activities or individuals, providing bankers with the necessary information to make informed decisions. Simplici Check Defense can work outside or seamlessly integrate within banking cores and is currently accessible for banks across the nation.

The implementation extends to ATM transactions, where depositors are prompted to complete the same verification process via their mobile devices. If any discrepancies or potential fraud are detected, the transaction is flagged for follow-up, ensuring the safety and security of customers and their funds.

"With Simplici Check Defense, proactive measures are taken to safeguard customers' accounts and maintain the integrity of banking services," stated Jim Delaney, Director of Growth at Simplici. "By leveraging our cutting-edge technology, banks reinforce their commitment to security and trust in every transaction."

The deployment of Simplici Check Defense will provide banks with a secure environment and help them stay ahead of evolving fraud threats. Customers can trust their deposits are protected by state-of-the-art security measures, ensuring peace of mind and confidence in their banking experience.

For more information about this innovative security solution, visit Simplici.io.

About Simplici.io

Simplici.io, a transformative platform developed by Satchel, Inc., a leading-edge technology company, focuses on combating friction and fraud in the financial services industry through the integration of biometrics and AI. It revolutionizes account origination and transaction security by offering advanced multi-factor identity verification and fraud mitigation solutions. Additionally, Simplici.io includes compliance management features to ensure adherence to regulatory standards while reducing friction and enhancing security at a competitive cost.

Jim Delaney
Simplici.io
contact@simplici.io
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