Rancocas, N.J. - SQN Banking Systems has unveiled fraud detection software that excels at comparing signatures for check fraud.
The fraud detection software, which is called SENTRY: SigCheck, was implemented to fight financial crime at the Asian-Pacific regional center in Singapore, a leading global bank that has operated for more than 60 years in 12 countries.
SENTRY: SigCheck automates digital comparing signatures for check fraud on check images and then verifies them with established profile signatures. This occurs at a rate of 4 million checks per year across the Asia-Pacific region. The bank selected SENTRY: SigCheck for its high speed and accuracy, which vastly increases their fraud detection capabilities. Prior to SENTRY: SigCheck, the bank conducted intermittent manual fraud analysis of certain checks. Now, SENTRY: SigCheck verifies every check that is over a specified amount. It also reads LAR, CAR and other check data.
“SENTRY: SigCheck fraud detection software allows fraud analyst professionals to be more effective by freeing them from looking at only intermittent check samples to putting their efforts to looking at checks our software has shown to be possibly fraudulent,” explained Stan Jaslar, CTO, SQN Banking Systems. We are pleased to be working with the Asian Pacific Bank and proud that they selected SENTRY: SigCheck for its capabilities at efficiently and effectively detecting fraud at the signature level,” he said. For more information, visit http://www.sqnbankingsystems.com/
SQN Banking Systems delivers innovative check fraud solutions that make large, mid-tier and community banks more competitive and more profitable. To learn more about how SQN can assist your bank in detecting fraud with workflow, image fraud analysis, signature verification, transaction fraud analysis, official check verification, safe deposit management and conversion services, visit http://www.sqnbankingsystems.com/