In response to the growing surge in check fraud across the nation, CSI, a leader in financial technology solutions, has introduced a cutting-edge check fraud detection tool for NuPoint® customers. This innovative solution, powered by Mitek Systems, equips bank tellers with real-time fraud detection capabilities to protect customer assets at the teller line. Deposits made through other channels undergo comprehensive overnight evaluations.
“Our priority is to protect our customers by identifying fraud as early as possible,” said Heather Deneault, assistant vice president and deposit operations officer at Denison State Bank, Northeast Kansas. “By integrating CSI’s fraud detection solution, we’re enhancing our tellers’ ability to spot fraudulent activity without depending solely on manual checks. The customizable system adapts to our customers’ behavior, enabling us to scale fraud prevention effectively.”
Check fraud incidents have skyrocketed in recent years, with a reported 90% increase in suspicious activity from 2021 to 2023, continuing into 2024. CSI’s new solution combats this trend by tapping into Mitek’s consortium of financial institutions, representing millions of consumers. This allows the system to deliver valuable insights, improve detection accuracy, and streamline fraud reviews.
The tool uses high-resolution image analysis across 24 check attributes, providing instant identification of potentially fraudulent transactions at the teller line.
“As fraud schemes grow more sophisticated, fast and reliable fraud prevention is essential,” said Steve Sanders, chief risk and information security officer at CSI. “This tool is the first of its kind for teller line use. By integrating AI and computer vision technology, we can reduce fraud losses while offering unmatched protection to our customers.”
The solution continuously evolves through consortium-based learning, enhancing fraud protection and anticipating new tactics. Analysts can evaluate check attributes against secure profiles stored in a cloud-based, ISO 27001-certified environment, ensuring top-tier security for community banks.
“We’re excited to collaborate with CSI and integrate Mitek’s Check Fraud Defender into their NuPoint solution,” said Michael Diamond, senior vice president at Mitek Systems. “Our partnership helps more banks strengthen in-branch security with real-time fraud detection, empowering financial institutions to stay ahead of emerging threats.”
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