Utilizing Enhanced Duplicate Check Detection Across the Entire ETran Network and User Base
OMAHA, NE. – August 10, 2011 – Financial Transmission Network Inc. (“FTNI”), a provider of industry leading receivable management solutions, today announced that it has enhanced its award winning ETran Receivables Platform to significantly reduce risk and fraud for our check processing customers.
ETran’s enhanced Duplicate Check Detection feature is another example of how FTNI’s flexible technology is adding value to our customers. Whereas, traditionally duplicate MICR checks have been limited to individual customers within a system, ETran takes it to the next level.
In addition to looking for check duplicates within individual customers and their locations, the Enhanced Duplicate Check Detection feature will also look at the history of all customers currently on the ETran platform and network. Therefore, any Financial Institution or Corporate Customer utilizing the ETran service can be reassured that if a check is captured by one customer, it won’t be allowed to enter the Etran platform if scanned by another customer. By adding this enhancement, ETran customers can significantly mitigate the risk and fraud that these duplicates can create.
“The mitigation of fraud and risk continues to be a top of mind concern and pain for our customers, said Doug Fisher, EVP of Software Solutions at FTNI. The Enhanced Duplicate Check Detection feature enabled across the entire ETran user network coupled with our Proactive Payment Monitor provides a significant reduction in risk and a potential in fraud savings for our customers.”
Financial Transmission Network, Inc.’s (FTNI) ETran platform incorporates remote deposit capture (check scanning), ACH and credit card processing on single, managed platform to help clients reduce costs, accelerate timelines and improve transaction processing quality. The Company’s cloud computing based software enables customers to setup recurring payments (ACH & credit card), message between users and provide custom integration into back offices systems, thereby reflecting the payment activity in the merchant’s receivables system. This technology offers merchants a turn-key, single-payment platform in a software-as-a-service (“SaaS”) environment that is fully PCI-compliant, thereby eliminating the hardware and software costs associated with traditional solutions. Due to its modular approach and easy deployment, the ETran platform can be deployed in a variety of verticals and customized easily to fit the end-users needs.