With the PayPositive solution, a bank and its clients work together to identify fraudulent items before they are cashed. The Bank of Sacramento has chosen to provide its customers with the reverse positive pay solution. In the reverse positive pay application, the bank provides a company with a file of the items it has received for payment that the company then compares with its own issued check records.
PayPositive builds on the strengths of Prelude’s other payment solutions by providing a flexible and easy-to-use environment for creating and managing a centralized database of payment information. The data mapping feature allows users to import and process payment data from virtually any check issuing system, regardless of the file layout. Both the bank and the banking customer use the same intuitive, menu-driven software to create and share payment files, import payment data into the database, match company issued checks against bank items presented for payment, and manage exceptions. Operator security features control the level and type of activities each user is allowed to perform.
"We’re very pleased that Bank of Sacramento has chosen our PayPositive system to help their commercial customers guard against check fraud,” said Michele Fee Smith, Prelude Software’s Vice President of Marketing. “With American banks and businesses losing billions of dollars annually due to check fraud, it is more important than ever for banks to offer check fraud detection services to companies. By using PayPositive, Bank of Sacramento can provide their customers with a powerful and flexible tool for ensuring that the checks they issue match the items the bank has received for payment."
"We are always looking for new and better ways of serving our business customers, which is what led us to Prelude Software’s PayPositive product," said Bank of Sacramento’s Margaret Harkness. "There was a need in our customer base for positive pay check protection. After an exhaustive search, we found that Prelude was offering the solution that we were looking for."
