AccountLaunch^® Enhancements in Fraud Prevention

Article contributor / Leslie Lomax / Sr. Client Learning Writer

In an increasingly online world, one area of focus is online account opening. With the ease and convenience of online banking, financial institutions are continuing to see increasing numbers of online account opening. Online activity, while fast and easy, comes with added risk for your institution.

As your partner, protecting our clients has always been our priority. SHAZAM recently made enhancements to the AccountLaunch^® product to include integrations with FIS^® Global and its integrated risk management products: FraudChex^® NAF, BizChex^®, and QualiFile^® (you must be contracted with these products to benefit). This new integration will allow you to see potential fraud behavior and patterns prior to account opening. Being able to detect this type of behavior before opening an account is vital in keeping you successful and safe.

Along with our new fraud preventions, SHAZAM also introduced ID barcode scanning for new accounts. This amazing new functionality allows the accountholder’s identification to be scanned and their data (name and address or driver’s license number) to be immediately input into the account opening process. This information is then available for retention through simple printing, saving, or having the reports sent directly to DocuCommand^® for retention (if contracted with this product). You can now benefit from the ease of account opening as well as improved efficiency!

“We’re making these enhancements to help protect our core partners against new account fraud,” said Kelli Landry, product manager. “It’s our job to constantly evolve our product offerings to ensure our clients are empowered to fight fraud and stay safe.”

If you’re interested in learning more about these enhancements, reach out to your regional director today!