WITNEY, OXFORDSHIRE, ENGLAND - 5 AUGUST, 2004 - EnSeal Systems Ltd, a leading developer of secure document technology, has today announced that Wellspring Software, Inc. of Manchester, MO, has now integrated EnSeal's Secure Seal check fraud detection solution in its PrintBoss check printing software, enabling Wellspring's business clients to eliminate costly losses from check fraud.
In collaboration with its US partner, Fiserv, Inc. (Nasdaq: FISV), EnSeal has helped develop Positive PayPLUS with Secure Seal, an automated check-verification system, which has undergone rigorous testing in high-volume check processing environments and is now in regular use with major US federal and commercial banks.
The easily-integrated Secure Seal technology securely hides issue file data - such as payee name and dollar amount - on the face of the check. This is done by encoding the data into a machine readable graphic, called a Seal, which is put onto the check as it is printed. The Seal blends into the design of the check and can be printed on the check as a logo, a border or other design feature. During processing by the Fiserv Positive PayPLUS system, information is automatically read from the Secure Seal then decoded and compared with data from the check image, providing full positive-pay verification to detect any alterations or counterfeits.
In response to customer feedback, Wellspring has fully integrated Secure Seal into PrintBoss, its suite of check printing software, enabling its small to mid-sized business clients to add encoded issue file information to their printed checks. A key advantage for users is the simplicity of upgrading security as Secure Seals do not require special inks and can be printed on any high-resolution laser or inkjet printer over 300 dpi.
Graham Shaw, EnSeal's managing director, commented that, until now, smaller companies typically have not used positive pay services.
"This agreement with Wellspring is very good news and enables Secure Seal printing to be delivered seamlessly to small to mid-sized businesses wishing to take advantage of the many fraud detection benefits of positive pay services," Shaw continued. "In addition, this agreement will now allow large banks to extend positive pay services to their small-business clients and enable more community banks to expand their services with positive pay offerings."
Stuart Neale, Vice President of Wellspring Software, said the Secure Seal feature will provide a meaningful benefit to his company's customers.
"One of our top priorities in producing this very simple product - printing checks - is security," Neale said. "We believe Secure Seal will provide that security in an equally simple and effective way."
FraudGuard Positive PayPLUS with Secure Seal is the result of collaboration between EnSeal Systems Ltd., the Fiserv Item Processing Group and the Imagesoft Technologies unit of Fiserv to create a fully automated solution for detecting checks that have been altered in any meaningful manner. Wellspring, Inc. is the latest vendor to join the growing number of industry-leading players who have now incorporated EnSeal's Secure Seal check fraud detection solution into their product offerings.
PrintBoss with the new Secure Seal capability will begin shipping immediately.