In response to the rise in check fraud incidents across the country, CSI, a leading provider of end-to-end financial software and technology, announced the launch of its proprietary check fraud detection solution for NuPoint® customers. Enabled by Mitek Systems, the solution equips bank tellers with real-time check fraud detection capabilities. Alternative deposit methods completed through all other channels are evaluated collectively overnight.
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“Our main goal is to protect our customers. By detecting fraud right at the teller line, we can proactively safeguard their assets,” said Heather Deneault, assistant vice president and deposit operations and branch management officer at Denison State Bank in Northeast Kansas. “We’re leveraging intelligent products like CSI’s check fraud detection solution to enhance our tellers’ vigilance without relying solely on manual reviews. CSI’s technology provides a customizable system that adapts to our customers and continually learns about their banking habits—helping us scale our fraud detection efforts effectively.”
Check fraud has surged dramatically in the past three years, with a reported 90% increase in check fraud-related suspicious activity from 2021 to 2023 and continued incidents throughout 2024. To counter this growing threat, CSI’s check fraud detection solution leverages Mitek’s growing consortium of financial institutions, which represents millions of consumers, to provide insights that improve check fraud detection rates and expedite review processes. The tool provides community banks with high-resolution image analysis across 24 scorable check attributes to instantly detect and interrupt potentially fraudulent transactions at the teller line.
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“As check fraud schemes continue to become more sophisticated and difficult to detect, it is essential to have a solution that delivers fast, consistent protection,” said Steve Sanders, chief risk and information security officer for CSI. “CSI’s check fraud detection solution is the first of its kind at the teller line. By leveraging computer vision and AI technology, we can reduce fraud losses and ensure our customers receive the most advanced protection available.”
The new solution continuously learns through consortium sharing, offering fraud protection at various levels of complexity to potentially predict future changes. Analysts can compare multiple check attributes against profiles stored in a secure, cloud-hosted environment that employs end-to-end encryption and adheres to ISO 27001-certified security protocols, delivering a new level of security to community banks.
“We’re thrilled to partner with CSI to integrate Mitek’s Check Fraud Defender into their NuPoint solution, expanding our collective impact in the fight against check fraud,” said Michael Diamond, senior vice president and general manager at Mitek Systems. “With our expertise in real-time fraud prevention and consortium-based data sharing, this collaboration enables more banks to detect fraud instantly at the teller line, strengthening in-branch security and helping financial institutions stay ahead of evolving threats.”
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Source: CSIWEB
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