Yampa Valley Bank was seeing a steady rise in mobile deposit fraud. In-person fraud was harder to prove, and the operations team often had to make judgment calls without the documentation needed for a Reasonable Cause hold. That meant releasing funds before a chargeback arrived, which sometimes led to avoidable losses.

Challenges

Before TrueChecks, verifying check fraud often involved calling other banks or relying on gut instinct. Applying a hold under Reg CC was time-consuming and didn’t always hold up. And when fraud slipped through, funds were sometimes withdrawn before the team could act.

Solutions

Yampa Valley Bank rolled out TrueChecks Batch to give its back-office team faster signals on risky deposits. The implementation was smooth, and the team started seeing results almost immediately. Staff can now review flagged checks within an hour of deposit, with clear documentation to support Reg CC holds. TrueChecks has also reduced the need for outbound verification calls and helped cut fraud losses that might have gone unnoticed.

Results

  • Over $10,000 in fraud losses prevented within the first few months
  • A $13,100 check flagged and held in the first week, avoiding a $5,600 loss
  • Fraudulent mobile deposit caught within 15 minutes and resolved before funds were lost
  • Fewer manual calls to verify suspicious checks
  • Improved Reg CC compliance with clear documentation
  • Faster hold decisions with stronger backup

TrueChecks has paid for itself in the very short amount of time we have had the product.

 

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