By seamlessly embedding ARGO OASIS Fraud and AML real-time fraud detection and prevention, ARGO Teller Payments helps institutions:
- Reduce fraud losses from cashed checks
- Deliver immediate responses to tellers on what actions to take through customizable messages
- Improve the customer experience by making instant pay/no-pay decisions at the point of presentment
- Decrease false positives
Through integration with ARGO Teller Payments, the ARGO OASIS Fraud and AML solution provides transaction, image, and Bank Secrecy Act/Anti-Money Laundering (BSA/AML) analysis. This functionality also includes monitoring for internal and external fraud.
Using Teller Payments Fraud capabilities, financial institutions increase scrutiny of financial transactions. Fraud filters, neural networks, configurable thresholds, batch and real-time processing, and optimized risk reviews help institutions stay ahead of on-us and deposit-account fraud.
ARGO OASIS Check Stock Validation and Signature Verification help institutions examine checks with increased speed, accuracy, and reliability over manual reviews. More specifically:
- Check Stock Validation – Analyzes presented check images against historical, referenced check images, comparing the spacing between characters, the field positions, and the graphical layout
- Signature Verification – Compares and validates digitized signatures against referenced images, focusing on signature fragments, handwriting trajectories, and geometric analytics
BSA/AML Analysis and Support
ARGO OASIS AML identifies potential money laundering/terrorist financing activities and heightens due diligence. BSA/AML features assist institutions with meeting regulatory requirements from Know Your Customer to sanction screening and risk assessment to regulatory reporting. This functionality also facilitates up-to-date Financial Crimes Enforcement Network (FinCEN) regulation compliance. OASIS automatically prompts tellers in the collection of data for reporting when activity thresholds are met or exceeded. The solution:
- Prefills forms with customer information
- Completes required fields
- Checks the validity of data to ensure the collection of all pertinent information
The Teller Payments Fraud component provides tests to detect internal teller fraud and external fraud from customers or fraudsters. For internal fraud, institutions use OASIS to identify, recognize, and prevent losses. The solution analyzes employee transaction types including cash, deposits, and ACH to identify possible links to internal fraud.
Regarding external fraud, OASIS allows financial institutions to establish rules for customers who perform fraudulent activities, such as excessive ID use. The institution may also set up alerts, notifying tellers to perform specific actions.