Treasury Services

Providing account and check validation services for commercial checks and electronic payments.

Treasury Services

Are Your Fraud Services Working?

  • Today, 78% of banking customers experience check fraud.
  • What is fileless positive pay, and why is it important?
  • Can you catch fraud at the point of presentment?

  • Do your positive pay services accommodate all your market segments?

  • Do you use multiple systems to catch check payee and ACH fraud?

ARGO has the answers!

SAND: The Industry Leader in Payee Match Accuracy

SAND is a complete solution for fraud detection and prevention for commercial checks and electronic payments. Watch this short video to learn more.

Business Check Fraud Prevention Model

ARGO’s positive pay solution, SAND, equips banks to help business customers detect and prevent fraud, giving them more control over payments and funding management. The solution increases detection accuracy by using information only the customer can provide–the details of items issued to payees.

SAND Model: Detect, Adjudicate, Reconcile, Report

Fraud Schemes Detected

SAND detects 100% of counterfeits, forgeries, and alterations when the business customer provides correct information. In addition, the solution prevents the majority of internal fraud if signature verification and dual control are enabled.

SAND detects the fraud types illustrated here. Fraud detection and prevention begin at the point of disbursement and identify potential fraud before the item is paid.

Check Fraud

Counterfeits * Alterations * Forgeries * Duplicates * Invalid MICR lines * Stale-dated and post-dated checks

ACH Fraud

ACH debit and credit based on ACH blocking and filtering * OFAC IAT matches

Deterministic and Probabilistic Matching

SAND uses two types of matching to detect and prevent fraud. Deterministic matching finds exact matches between data elements. Probabilistic matching measures the degree of difference between two or more data elements, detecting invalid, altered, or counterfeit items.

Deterministic Matching

Amount * Serial number * Dates * Stop payments * Duplicates * Paid checks that were not issued

Probabilistic Matching

Payee based on semantic matches against issue information using advanced analytical methods, such as glyph decomposition, or by comparing against data in the encrypted SAND barcode * Check serial number out-of-range

Positive Pay Methods

Using more modern and flexible methods, institutions can attract and retain high-value corporate customers, generate non-interest service revenue, reduce fraud, and reduce operational costs. Methods include traditional, reverse, payee, ACH, and fileless positive pay. Your customers can choose the method based on their needs.

Enables check fraud protection by positively matching and validating dollar amounts and serial numbers against information from issued-check files.

Fraudsters often alter the payee name on a known, good check to defraud organizations. Pending the verification of the dollar amount, check number, and other details, the solution automatically scans, reads, and matches the payee name printed on the face of the check against the payee information in the issued-check file.

Presents all paid items to the corporate customer for self-service review.

Enables customers to create ACH debit blocks and debit filters, which the solution uses to evaluate ACH transactions. The solution allows customers to add or remove ACH vendors or items in real time. It processes converted checks against the original issue information, generating alerts for altered, mismatched, or duplicated items.

Provides the next generation of ‘fileless’ or ‘issueless’ positive pay, reducing the number of exceptions needing review and increasing document security at the point of presentment. SAND encrypts positive pay information into a two-dimensional barcode printed on the front of the check at issuance. This barcode provides self-authentication and eliminates the need for corporate customers to transmit issued-check files to institutions.

Positive pay methods supported by SAND

Alerts

Electronic alerts are sent in real time to notify the customer and the FI of exceptions. Using SAND Mobile, commercial account managers can use their phones or tablets to review alerts with transaction information and electronic images. After reviewing the item’s details, the account manager can decide in SAND Mobile if the item represents a genuine transaction to be paid or a fraudulent transaction that needs to be returned.