Omaha, NE July 13, 2010 – Financial Transmission Network Inc. (“FTNI”), a provider of industry leading payment solutions, announced today the general release of its new fraud and risk monitoring solution, Proactive Payment Monitor (“PPM”), to help it’s bank and ISO clients add an innovative layer to their fraud and risk monitoring program.
Since the PPM module is incorporated and delivered seamlessly within FTNI’s SaaS-based ETran platform, banks and ISO’s are able to push the rules out to the merchants, when the payments are initiated as opposed to when they are received by the financial institution or gateway. Using FTNI’s Queue’s Module, payments can be monitored, checked and halted real-time, before the payments ever reach the bank or credit card’s back-office systems.
This is the latest module from FTNI’s ETran platform which incorporates check scanning, ACH processing, credit card processing and ID verification on a single, PCI-compliant managed platform (“SaaS”) to help clients reduce costs, accelerate timelines and improve transaction processing quality.
“The PPM Module offers the ability to monitor fluctuations and unusual activity at the time of initiation (prior to processing) providing us and our clients with a preventative approach to fraudulent activity,” said Danielle Desrosiers, Chief Operating Officer of Independence Bank. “Growing our merchant accounts is something that is important to Independence Bank. FTNI’s new PPM tool gives us an important tool in helping us and our merchant customers manage deposit risk. Providing both us and our merchants with immediate notification of questionable deposit activity, before the deposits are made, plays an important role in our fraud and risk management plan.”
Kurt M. Matis, President of FTNI added, “Again, we listened to the needs of our bank and ISO partners, as well as FFIEC-Risk Management and Compliance guidelines, and developed a leading-edge module that allows them to be proactive with risk management as opposed to reactive. We are excited about offering our partners another layer of risk and fraud monitoring that can be deployed easily to the front-lines where payments are initiated.”
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 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 A/R 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.