Move Day 2 exceptions processing into Day 1.

With the new risks introduced for bank exception processing by electronic clearing methods, such as image exchange, RDC and ACH conversion , it is more important than ever to handle exception processing and detect check fraud as early as possible. Our Xcept bank exception processing product enables you to move many types of fraud and exception processing into Day 1 – before the payments are posted to your customers’ accounts or sent to your banking partners.

Accelerate exception processing

Too often, fraud is detected only when it is too late to recover the funds. Likewise, many exceptions are detected when it is too late to meet the return deadline. These events can result in significant financial losses to your bank. By providing a common exception-handling gateway, Xcept accelerates exception handling. This results in identification of the potential losses while there is still an opportunity to protect your bank and prevent your customers or banking partners from being affected. Detecting and handling of exception and fraud suspects as early in the payment process as possible is the next natural step in maximizing benefits and reducing risk of faulty item processing and fraud in in the post-Check 21 environment.

Xcept provides detection and automated dispositioning and routing of many types of commonly occurring exceptions, including:

1. Stop payment orders
2. Closed accounts
3. Payments requiring signature and/or payee name verification
4. Payments requiring positive pay or reverse positive pay processing
5. Other types of  fraud review such as suspect lists, missing checks or account thresholds
6. Deposit review for remote deposit capture

Xcept Exception Processing

Xcept accepts payments from all payment sources and channels, including image exchange, ACH and RDC.  As payments come into the bank throughout the day, they are compared against the criteria from the selected systems and any matches are identified, flagged, reviewed if necessary and reported to the appropriate external systems for handling.

The Xcept exceptions processing system provides a central point for efficiently detecting and handling most exception payments in Day 1. The major solution components include:

• Administration and Business Rules – The administration and business rules component provides a menu-driven interface for configuring the system and for setting up the business rules. The business rules enable you to automate much of the process and handle work differently depending on your business policies.
• Suspect Identification – Xcept provides a suspect identification component that accepts criteria for identifying suspects from a variety of existing systems; including fraud systems, DDA, ARP, and ACH.
• Suspect Review – The review station presents the suspect payments to an operator for quick and easy decisioning.
• Workflow Tracking – Full audit reporting and tracking is provided. All files and units of work are tracked as they flow through the system.
• Reporter – The reporting component using the business rules you define to create different types of exports based on how the suspects were decisioned and report the results to the appropriate system for handling.
• Multi-bank – Xcept includes full support for multi-bank environments.

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Contact us to learn more about how our Xcept bank exception processing product enables you to move many types of fraud and exception processing into Day 1, improve exception processing and duplicate item detection, and maintain Check21 compliance.

For more information Xcept, fill out the contact sheet below, then press the Submit button.

*The following information is quoted from a study conducted by the Association of Financial Professionals published in March of 2009 (2009 AFP Payments Fraud and Control Survey):

• Checks are still the preferred target for criminals committing payments fraud. Ninety-one percent of organizations that experienced attempted or actual payments fraud in 2008 were victims of check fraud followed by twenty-eight percent from ACH debit fraud.
• Risk and fraud factors have increased alongside ACH’s growing check conversion and electronic payments volume. With the convergence of check and ACH, the manipulation of check and ACH transactions is an increasing concern.
• Nearly a quarter of survey respondents indicate that their organization has been subject to duplicate debits. Eighteen percent of the occurrences, were the result of fraud.