A.L.E.R.T. and C.O.P.S. Give Customers Opportunity for Control
ACH Alert has announced it has reached an agreement with Shelbyville, Kentucky-based Citizens Union Bank and First Farmers Bank to enhance the community bank’s layered security measures for its customers with its fraud protection services called A.L.E.R.T. and C.O.P.S.
“Corporate account takeover is plaguing the banking industry and ACH Alert’s A.L.E.R.T. and C.O.P.S. will effectively extend our fraud protection efforts for our customers by giving them the opportunity to participate in their own protection,” said Kim Dodson, CTP, first vice president and manager of the Treasury Services Division at Citizens Union Bank.
“Citizens Union Bank is taking a strategic approach to protecting their clients from fraudulent transactions,” said Debbie Peace, CEO, ACH Alert. “Our A.L.E.R.T. and C.O.P.S. services together will enable Citizens Union Bank or any financial institution for that matter, to effectively augment their layered protection efforts. Citizens Union Bank wanted to do more than just meet a compliance objective or respond to the fraud issue by adding additional overhead, they seized the opportunity to provide a much desired, new and interactive service to their customers. ”
Citizens Union Bank officials plan to begin rolling out ACH Alert’s A.L.E.R.T. and C.O.P.S. later this summer.
A.L.E.R.T. is a patented technology that allows subscribing account holders to control the pay/no pay decision for incoming ACH debits. A.L.E.R.T. triggers an actionable alert to any text-enabled mobile device when an ACH debit arrives, helping the subscribing account holder to detect fraudulent entries immediately and return them instantly.
C.O.P.S. (Credit Origination Positive-Pay Services) is a patent-pending technology designed by ACH Alert to prevent losses resulting from an account takeover. C.O.P.S. provides multiple layers of security within a single application and complies with FFIEC guidelines. C.O.P.S. employs out-of-band notifications to easily give customers complete control of their accounts.