A.L.E.R.T Service Helps Position Trustmark National Bank as Market Leader
ACH Alert announced today it has reached an agreement with Jackson, Mississippi-based Trustmark National Bank to provide their customers with fraud protection services.
“We are confident ACH Alert’s fraud protection service called A.L.E.R.T. will help to continue to strategically position Trustmark National Bank on the leading edge of fraud protection in the markets we serve,” said Christopher Styga, Senior Vice President of Corporate Treasury Services at Trustmark National Bank.
This agreement comes right on the heels of a year-end announcement that ACH Alert’s award-winning, patented fraud mitigation services, which includes A.L.E.R.T., had deterred more than $100 million in attempted fraudulent transactions in 2012 for its clients.
“It is clear ACH Alert is among the top thought leaders in the payments industry, and their knowledge of this business sets them apart,” Styga said. “A.L.E.R.T.’s self-service approach allows our customers to have real-time control over their transactions.”
“It is exciting to see Trustmark National Bank’s enthusiasm for our A.L.E.R.T. service and what it can do to automate processes for their institution and improve their clients’ banking experience,” said Debbie Peace, CEO of ACH Alert.
ACH Alert’s 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.
The patented A.L.E.R.T. service also provides the ability to present a pre-populated written statement of unauthorized debits when the SEC code requires it. This grants business customers an extended time window to return certain types of ACH debits and makes returning unauthorized ACH debits of all types a low-cost, no-risk proposition for receiving depository financial institutions (RDFIs).
This real-time debit approval process, which can occur before a debit post, allows an account holder to easily identify trusted trading partners to automatically populate an “approved list” for future transactions, eliminating the need to maintain today’s labor intensive debit filters.
Peace says advances in mobile and online technologies have enabled real-time delivery and receipt of notifications through multiple channels. By leveraging these advances in technology ACH Alert has created patented solutions that enable financial institutions to ultimately mitigate fraud, decrease overhead, generate revenue and increase profitability.
Trustmark National Bank plans to implement ACH Alert's fraud protection services early in 2013.