Safeguard Wire Transactions and Streamline Payment Processing
Financial institutions must remain vigilant against wire fraud attacks, as it affected over 30 percent of organizations in 2022, according to the 2022 AFP Digital Payments Survey. Fraudsters often use wires to infiltrate an organization’s payment systems using email, which makes it imperative for FIs to stay ahead of the latest tactics employed by criminals.
Real-time Verification for Secure and Accurate Transactions
TrueWire ensures secure and accurate wire transactions by verifying account ownership and status in real-time. With instant verification, you can minimize the risk of fraudulent activities and unauthorized transactions. This feature enhances the security of your wire transactions, providing confidence in the legitimacy of each transaction. By instantly confirming the validity of accounts involved, TrueWire significantly enhances accuracy and reliability, safeguarding your financial operations.
Dynamic Review for Optimal Security and Compliance
TrueWire conducts dynamic reviews of both senders and receivers of wire transactions to ensure optimal security and compliance with regulations. By thoroughly assessing the parties involved in each transaction, you can mitigate risks associated with money laundering, fraud, and other illicit activities. This proactive approach helps your financial institution stay compliant with regulatory requirements, protecting your reputation and minimizing potential legal consequences.
Streamlined and Efficient Process with Customizable File Upload
With TrueWire, you can easily upload wire transactions using a customizable file format, enabling a streamlined and efficient process. By simplifying the data entry and validation procedures, TrueWire eliminates manual efforts and saves valuable time. The customizable file upload feature allows you to tailor the process according to your specific requirements, optimizing your wire transaction management. This efficiency boost contributes to enhanced productivity and a seamless experience for your institution and customers.
Seamless Integration with Existing Tech Infrastructure via API
TrueWire provides access via API, allowing seamless integration into your financial institution’s current infrastructure. By leveraging your existing systems, TrueWire ensures that your verification process is streamlined and aligned with your organization’s operations. Integration via API enables a smooth and efficient data flow between TrueWire and your systems, eliminating manual data entry and potential errors. This integration further enhances the overall efficiency and effectiveness of your wire transaction management.
The Power of Contributed Data
TrueWire offers access to multiple authoritative nationwide account holder and fraud databases. By leveraging these databases, you gain access to comprehensive and up-to-date data, empowering informed decisions. The real-time verification of wire transactions prior to payment ensures to your FI and account holders that transactions are legitimate. With TrueWire, you can optimize your wire transaction processes while maintaining security, compliance, and efficiency.