Catch Suspicious Transactions Out Before They Become A Problem

 

Introducing: Detect

1 in 4 organisations are impacted by fraud. And almost all organisations are affected by payment processing errors. Fraud and error can cost your organisation time, money and even reputational damage.

Detect is the essential payments security add-on for AccessPay users seeking to stop fraud and error before payment files are processed.

The new add-on can potentially save your business thousands and in some cases millions of pounds by flagging up potential risks in your payment files, detecting and flagging such issues like unrecognised creditors, payments that exceed a certain threshold and duplicated data entries, to name a few.

In the news recently there has been reports that invoice fraud is on the rise. Fraudsters divert genuine invoices or payment instructions sent by email, often from a familiar supplier or contractor, and send replica emails with the banks details changed to an account owned by them. These emails are often so well constructed it’s hard to spot what’s genuine and what’s not. And, staggeringly these scams make up 55 per cent of all money lost to fraud, according to Barclays.

If you would like a full demo of how the add-on works, please get in touch via the form.

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What Can Detect Do For You?

Improve Payment Controls

Using a combination of pre-defined rules and artificial intelligence, Detect significantly reduces the possibility of erroneous transactions slipping through the cracks.

Detect Payment Fraud Early

Using a series of triggers and rules, Detect flags possible fraud attempts at the point of payment initiation.

Intel To Help You Act Fast

Detect helps you act fast. With any irregularities flagged as soon as your payment file enters the AccessPay platform.

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How Does Detect Work?

Detect uses a set of pre-defined rules which can be adapted to build a continuous profile of irregular activity for your organisation. Irregular activity is then flagged using a traffic light system which indicates the individual transactions that need your attention.

Detect is an alerting tool and will not suppress individual transactions automatically, suppression is managed by the user reviewing the information.

What rules are available with Detect?

  • Unrecognised creditors
  • Creditors paid more than once within the same file
  • Creditors paid the same amount more than once within the same file
  • Thresholds on total transaction count
  • Thresholds on total transaction amount
  • Thresholds on individual transaction amounts

Get Detect now and give your banking operations an added layer of protection.