TAFraudSentry Case Study
A case study was conducted on two financial institutions that implemented the TAFraudSentry check fraud solution. The study focused on the initial 60 days for each institution.
"Bank A"
During the first 30 days, Financial Institution "Bank A" identified and
confirmed 20 fraudulent checks totaling $96,001.34. In the subsequent 30 days, "Bank A" found 5 fraudulent items totaling $25,622.00.
"Bank B"
During the first 30 days of use, "Bank B" detected 7 fraudulent items amounting to $48,352.45. In the subsequent 30days, "Bank B" identified 7 fraudulent items amounting to $1,172.04.
"TAFraudSentry has proven to be a valuable tool in our fraud detection suite. By quickly identifying fraudulent checks, TAFraudSentry has saved our customers and our bank thousands of dollars in the short time we have gone into production. One check alone covered our investment in TAFraudSentry."
"Each day, I log into TAFraudSentry and review the suspect items. Before TAFraudSentry, this was a very manual process that took multiple hours each day. TAFraudSentry identifies potential suspect items and flags them for review. This saves me a considerable amount of time each day and allows me to focus my efforts on a much shorter list of checks which results in a much more thorough review. TAFraudSentry enables us to proactively monitor fraud which gives our customers a great deal of confidence in our fraud monitoring practices."