Case Study
Carolina Trust Federal Credit Union
Integrating TrueChecks was uncomplicated and the training was easy to implement. The simplicity of the system has helped propel Carolina Trust to achieve such great results… With new types of check fraud constantly evolving, financial institutions need the fraud prevention that TrueChecks provides.
Nicole Barringer, AVP of Quality Assurance at Carolina Trust Federal Credit Union
Carolina Trust Federal Credit Union (CTFCU) has been serving the financial needs of its members since 1958. Today, CTFCU features five branches and over 39,000 members.
Experiencing an uptick in losses related to check fraud, CTFCU decided to take action in order to protect its members.
Challenge
Carolina Trust Federal Credit Union experienced an uptick in check fraud, resulting in losses.
Spread across five branches, CTFCU needed a solution that could easily integrate with its existing system.
Solution
By implementing Advanced Fraud Solution real-time check decisioning software, TrueChecks, Carolina Trust Federal Credit Union saw an immediate 93% decrease in fraud losses. (The ROI of implementing TrueChecks was 708%.)
Carolina Trust Federal Credit Union and TrueChecks
With the collaborative power of the TrueChecks® database, banks and credit unions can mitigate check fraud in real-time and benefit from:
- A vast fraud database comprised of data from a large network of financial institutions, item processors and optional third-party sources for account status data.
- Real-time responses on counterfeit, NSF, Closed Account, Duplicate and other fraudulent items.
- Easy API-based integration into existing and familiar workflows.
- Decisioning with Reg CC-recommended action and associated risk.
