FTNI Enhances Fraud and Risk Monitoring Module, Proactive Payment Monitor

23 June 2016

Financial Transmission Network, Inc. (FTNI) announced today new enhancements to its fraud and risk monitoring module, Proactive Payment Monitor. Part of FTNI’s award-winning ETran integrated receivables hub, the module gives corporations and banks a dynamic capability to oversee and govern all transactions across the platform.

Proactive Payment Monitor’s enhancements offer users robust monitoring of web and mobile transactions in addition to desktop remote deposit capture (RDC), ACH, credit card, and even cash transactions. The module is easily tailored by corporate or bank administrative users to meet their specific needs, ranging from simple dollar or transaction-based threshold alerts to complex risk and fraud management controls.

In the event that a set rule or threshold is triggered, an alert (via email or ETran’s secure messaging module) is sent to a specified user or group of users, noting that a transaction on the platform requires their attention. For banks leveraging the platform with their corporate banking customers, the bank’s business rules, transaction volume, velocity limits and dollar amount thresholds are easily set-up on a customer-by-customer basis, enabling the bank to monitor and appropriately address ‘out of the ordinary’ transactions before they ever reach the bank.  Once a rule is setup, it can easily be copied and adapted to other corporate clients. As banks’ relationships with their corporate banking customers expand, transactional monitoring rules, thresholds and associated alerts are easily modified to each corporate customer’s changing needs.

Included in ETran’s Administrative Module at no additional cost, Proactive Payment Monitor is seamlessly integrated with ETran, and works hand-in-hand with ETran’s other intuitive oversight and management features like configurable workflow queues, variable hierarchy controls and user-level data access permissions.

“As fraud and risk sit top-of-mind in the payments space, we continually look for ways to provide new and enhanced functionality to help corporations and banks address their needs,” said Chris Thompson, COO, FTNI. “These latest enhancements to our Proactive Payment Monitor web services came directly in response to feedback from our bank partners and clients who are looking for first-line monitoring of payment transactions before those transactions ever reach the bank.”

Thompson added, “In addition to these enhancements, we continually develop and implement new criteria and rules that give users the ability to supervise and control transactions at ever more granular levels.”

Unlike a dashboard that just brings together ‘feeds’ from disparate systems, FTNI’s ETran integrated receivables platform supports the initiation, acceptance, processing and posting of remittances across any payment method (check, ACH, credit/debit card, cash) or channel (mailed-in, called-in, in-person, online, mobile). Featuring flexible ‘plug-n-play’ functionality, ETran enables efficient integration with existing back-office systems, check scanning hardware and banking and merchant processor relationships.

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