Dateline: Manchester, Vermont (MANCHESTER, Vt.) | Thu, 28 Feb 2013
freeNewsArticles Story Summary: “CONIX Systems, Inc. is introducing its Risk Detective(TM) solution for real time scoring of client eligibility in support of financial institutions’ risk management strategies. Challenged to comply efficiently with FFIEC guidelines and to mitigate the risk associated with the expansion of payment options, financial institutions must carefully target the marketing and availability of these products only to customers who have been properly vetted.”
A R T I C L E:
CONIX Systems, Inc. is introducing its Risk Detective(TM) solution for real time scoring of client eligibility in support of financial institutions’ risk management strategies. Challenged to comply efficiently with FFIEC guidelines and to mitigate the risk associated with the expansion of payment options, financial institutions must carefully target the marketing and availability of these products only to customers who have been properly vetted.
“Decision making in the world of electronic banking is an opportunity within a challenge – an opportunity both to ‘Know Your Customer’ and, for some products, to ‘Select Your Customer,’ through sophisticated analytics,” said CONIX President and CEO Mike Charles. “Risk Detective was developed with the informed input of banks, payment processors, and industry experts who have a firm grasp of the challenges and risks associated with offering alternative payment products.”
Risk Detective provides a real time assessment of the client relationship by collecting and analyzing risk factors for all deposit accounts associated with an institution’s customer. To provide the most accurate assessment possible, Risk Detective takes both historical and same-day activity across payment channels into consideration when computing eligibility ratings. Risk assessments are available immediately upon inquiries from other systems and via Risk Detective’s web-based user interface.
Risk Detective’s user-defined risk-scoring methodology allows risk categories and events to be defined and weighted by the bank, with risk computations defined by product and account type.
A bank can implement Risk Detective as a standalone product or as part of CONIX Systems’ Detective Suite(TM), an integrated product set developed to safeguard banks from the risks associated with innovations in the payment industry. Detective Suite products share a common infrastructure that includes components essential to high-efficiency systems that adapt easily to changing business requirements. These components include a shared database, cross-channel support, multi-bank support, user-defined business rules, workflow integration, scalability, and more.
Some of the benefits that Risk Detective offers financial institutions are:
* Risk mitigation
* Enhanced client selection
* Competitive advantage
* Reputation protection
* Reduced costs
* Enhanced regulatory compliance.
Risk Detective is the latest addition to CONIX Systems’ Detective Suite. The Detective Suite also provides Day 1, multi-channel, multi-bank solutions for duplicates and fraud. Detective Suite products share a common infrastructure that includes a shared database, cross-channel support, user-defined business rules, multi-bank support, scalability, streamlined processing, workflow integration, web interfaces, full audit tracking and reporting, menu-driven controls, and more.
About CONIX Systems, Inc.:
For two decades, CONIX Systems, Inc. (www.CONIX.com) has been a world leader in providing payment processing software and related services to the financial services industry. CONIX has a reputation for driving innovation with its products. Its Dupe Detective(R) and Fraud Detective(R) enterprise solutions intercept and facilitate the Day 1 disposition of disruptive and costly payment anomalies. These products work together seamlessly to provide a common review of duplicate and fraud suspects. Fraud Detective now provides expanded detection capabilities that facilitate both the replacement of legacy mainframe solutions and the acceleration of existing Day 2 fraud solutions into a pre-posting environment.
Founded in 1992, the company is headquartered in Manchester, Vt., with offices throughout the United States. For more information about CONIX Systems, Inc., and its products, call (877) 332-1858 or email sales@conix.com.
###
Copyright © 2013 by CONIX Systems, Inc. and Send2Press® Newswire, a service of Neotrope® – all rights reserved. Information believed accurate but not guaranteed. Sourced on: freeNewsArticles.com.
• Web Image (72dpi): https://www.send2press.com/mediaboom/13-0228-conix_72dpi.jpg
• Media Contact Information: https://www.send2press.com/mediadrome/2013-02-0228-005.txt
• Story Title: CONIX Introduces Risk Detective for Mitigation of RDC and Mobile Deposit Risks
• REFERENCE KEYWORDS/TERMS: Risk mitigation, Manchester, Vermont, payment processing software, Banking and Finance, Business, Computing, MANCHESTER, Vt..
IMPORTANT NOTICE: some content which is considered “old” or “archival” may reference an event which has already occurred; some content possibly considered “advertorial” may also reference a promotion or time-limited/sensitive offering, and in all of these instances certain material may no longer be valid. For notably stale content, you should directly contact the company/person mentioned in the text (CONIX Systems, Inc.); this site cannot assist you with information about products/services mentioned in the news article, nor handle any complaints or other issues related to any person/company mentioned or promoted in the above text. Information believed accurate but not guaranteed as of original date of story [Thu, 28 Feb 2013 18:33:05 GMT].
USE THIS CONTENT FOR FREE: To use this content in your newspaper, broadcast outlet, news portal, blog/ezine or similar, free of cost, CLICK HERE to learn how.