A.L.E.R.T Service Creates Competitive Advantage and Positions Umpqua Bank as Market Leader
ACH Alert announced today it has reached an agreement with Portland, Oregon-based Umpqua Bank to provide their customers with fraud protection services.
“ACH Alert’s fraud protection service called A.L.E.R.T. positions Umpqua Bank to be on the leading edge of fraud protection, which is an important service to our customers and communities,” said Charles McNeilly, vice president, Umpqua Bank.
“ACH Alert’s self-service approach allows our customers to have real-time control over their transactions. We were also impressed with the way they worked with us throughout the decision-making process,” McNeilly said.
“The same competitive advantage and market leadership we were able to provide Umpqua Bank is exactly what we aim to provide all our other financial institution clients who understand the importance of taking a strategic approach to fraud prevention,” said Debbie Peace, CEO of ACH Alert. “It’s exciting to see Umpqua Bank’s enthusiasm for our A.L.E.R.T. service and what it does to automate processes for their institution and improve their clients’ banking experience.
McNeilly said the bank had considered other cyber-fraud prevention services but ultimately decided to go with ACH Alert’s service because the patented technology allows subscribing account holders to control the pay-no pay decision for incoming ACH debits. A.L.E.R.T. triggers an actionable alert when an ACH debit arrives, enabling the subscribing account holder to detect fraudulent entries immediately and return them instantly, without financial institution intervention.
Umpqua Bank plans to implement ACH Alert's fraud protection services during 2013 with the intention of converting existing ACH debit filter customers to the A.L.E.R.T. platform to provide a better client experience.
“Another important aspect of the A.L.E.R.T service is that it doesn’t require systems integration but simply inserts into our process flow, and that is significant for us,” said McNeilly.