CONIX Introduces Risk Detective for Mitigation of RDC and Mobile Deposit Risks

Supports FFIEC Customer Due Diligence and Suitability Guidance for RDC

Thu, 28 Feb 2013, 18:33:05 EDT

Edited by Debra Tone

MANCHESTER, Vt., Feb. 28, 2013 (SEND2PRESS NEWSWIRE) -- CONIX Systems, Inc. (CONIX) is introducing its Risk Detective™ solution for real time scoring of client eligibility in support of financial institutions' risk management strategies. Challenged to comply efficiently with FFIEC guidelines and to mitigate the risk associated with the expansion of payment options, financial institutions must carefully target the marketing and availability of these products only to customers who have been properly vetted.

"Decision making in the world of electronic banking is an opportunity within a challenge - an opportunity both to 'Know Your Customer' and, for some products, to 'Select Your Customer,' through sophisticated analytics," said CONIX President and CEO Mike Charles. "Risk Detective was developed with the informed input of banks, payment processors, and industry experts who have a firm grasp of the challenges and risks associated with offering alternative payment products."

Risk Detective provides a real time assessment of the client relationship by collecting and analyzing risk factors for all deposit accounts associated with an institution's customer. To provide the most accurate assessment possible, Risk Detective takes both historical and same-day activity across payment channels into consideration when computing eligibility ratings. Risk assessments are available immediately upon inquiries from other systems and via Risk Detective's web-based user interface.

Risk Detective's user-defined risk-scoring methodology allows risk categories and events to be defined and weighted by the bank, with risk computations defined by product and account type.

A bank can implement Risk Detective as a standalone product or as part of CONIX Systems' Detective Suite™, an integrated product set developed to safeguard banks from the risks associated with innovations in the payment industry. Detective Suite products share a common infrastructure that includes components essential to high-efficiency systems that adapt easily to changing business requirements. These components include a shared database, cross-channel support, multi-bank support, user-defined business rules, workflow integration, scalability, and more.

Some of the benefits that Risk Detective offers financial institutions are:
* Risk mitigation;
* Enhanced client selection;
* Competitive advantage;
* Reputation protection;
* Reduced costs;
* Enhanced regulatory compliance.

Risk Detective is the latest addition to CONIX Systems' Detective Suite. The Detective Suite also provides Day 1, multi-channel, multi-bank solutions for duplicates and fraud. Detective Suite products share a common infrastructure that includes a shared database, cross-channel support, user-defined business rules, multi-bank support, scalability, streamlined processing, workflow integration, web interfaces, full audit tracking and reporting, menu-driven controls, and more.

About CONIX Systems, Inc.:
For two decades, CONIX Systems, Inc. (www.CONIX.com) has been a world leader in providing payment processing software and related services to the financial services industry. CONIX has a reputation for driving innovation with its products. Its Dupe Detective® and Fraud Detective® enterprise solutions intercept and facilitate the Day 1 disposition of disruptive and costly payment anomalies. These products work together seamlessly to provide a common review of duplicate and fraud suspects. Fraud Detective now provides expanded detection capabilities that facilitate both the replacement of legacy mainframe solutions and the acceleration of existing Day 2 fraud solutions into a pre-posting environment.

Founded in 1992, the company is headquartered in Manchester, Vt., with offices throughout the United States. For more information about CONIX Systems, Inc., and its products, call (877) 332-1858 or email sales@conix.com.

• Permanent shortlink to original copy of this release: http://goo.gl/W4U6F .

• For more information, visit: http://www.conix.com/

Send2Press® is the originating wire service for this story. Terms of Use. © CONIX Systems, Inc.. All trademarks acknowledged.

THE CONTENT OF THE ABOVE PRESS RELEASE WAS PROVIDED BY THE NEWS SOURCE ("CONIX Systems, Inc."), WHO IS SOLELY RESPONSIBLE FOR ITS ACCURACY. FOR QUESTIONS ABOUT THIS STORY CONTACT THE NEWS SOURCE AND NOT THIS WEBSITE.

Journalist Resources:
Download original press release as issued including media contact information for CONIX Systems, Inc..

Plain text copy of release

PDF text copy of release

View our news channels by industry topics, by U.S. States, or by selected U.S. Cities:

	> U.S. and World News
	> Advertising & Marketing
	> Aerospace & Aviation
	> Agriculture & Farming
	> Apple, Mac, iPod & iPhone
	> Auctions
	> Auto & Motorsports
	> Banking & Finance
	> Beauty Products
	> Boating, Marine & Maritime
	> Business
	» Alliances & Partnerships
	» Awards and Honors
	» Earning Announcements
	» Funding & Investment
	» Government Procurement
	» INC 5000 Companies
	» International Business
	» Investment Services
	» Management Changes
	» Mergers & Acquisitions
	» New Locations & Growth
	» Patent & Trademark
	» Product Launches
	» Public Companies
	» Reports & Studies
	» Retail & Franchise
	> Communication Arts
	» Fine Art & Artists
	» Graphic & Web Design
	» Journalism & Writing
	» Photography
	» Printing & Packaging
	> Computing
	» Biometrics & Bioware
	» Events & Shows
	» Hardware & Peripherals
	» LBS & GPS Applications
	» Mobile Computing
	» Networks & Encryption
	» Software
	» Support & Warranties
	» VAR & IT Consulting
	> Construction and Building
	» Architecture
	» Building Products
	» Building Projects
	» Business Services
	» Interior Design & Furniture
	> Corporate Social Responsibility
	> Defense & Military
	> Drug Rehabilitation
	> Education & Schools
	> Electronics
	> Employment & HR
	> Energy, Oil & Gas
	> Entertainment
	» Acting & Modeling
	» Books & Publishing
	» Consumer Electronics
	» Fantasy Sports
	» Fashion
	» Industry Services
	» Movies & Film Making
	» Music & Recording Industry
	» Offbeat
	» Online Pubs & eZines
	» Performers & Celebrity

	» Podcasting
	» Pop Culture
	» Radio & Internet Radio
	» Television
	» Theater & Live Events
	» Toys & Games
	» Video & DVD
	» Video Games
	> Environment & Ecology
	> Facilities & Maintenance
	> Family, Parenting & Children
	> Food & Beverages
	> General Editorial
	» African American Interests
	» Brides & Weddings
	» Free Speech
	» Holidays & Seasons
	» Holistic & Spiritual
	» Latino Interests
	» Men's Interests
	» Native American Interests
	» Opinion & Commentary
	» Senior Citizen Interests
	» Women's Interests
	> Global Aid & Relief
	> Government
	» Awards & Events
	» Ballots, Bills & Laws
	» Economic Development
	» Elections & Politics
	» Local & Regional Govt.
	» Protests & Marches
	> Green Business
	> Health, Diet & Fitness
	> Home & Garden
	> HVAC Heating & Cooling
	> Insurance
	> Internet & Websites
	» Blogs and Forums
	» Business & Social Networking
	» Directories & Portals
	» e-Commerce
	» e-Marketing
	» New Websites
	» Online Shopping Sites
	» SaaS, CMS, & Web Software
	» Video, VOD & Streaming
	» Web Development
	» Web Hosting & ISPs
	> Jewelry & Diamond
	> Legal & Law
	> Manufacturing
	> Medical
	» Alternative Medicine
	» Biotechnology
	» Cosmetic Surgery
	» Dentistry
	» Devices & Research
	» Disabilities & 508 Compliance
	» Drugs & Pharmaceuticals
	» Fertility & IVF
	» Hospitals & Nursing
	» Long Term Care
	» Medical & Health Products
	» Medical Business Services
	» Ophthalmology & Vision
	» Private Practice & Groups
	» Surgery & Neurotech

	> Mining & Metals
	> Mortuary & Cemetery
	> NonProfit & Charities
	> Plastics and Chemicals
	> Police, Fire and Rescue
	> Real Estate
	> Regional Events
	> Religion & Churches
	> Restaurant & Hospitality
	> Safety & Security
	> Sciences
	» Astronomy
	» Nanotech
	> SEO Experts
	> Sports & Activities
	» Baseball
	» Basketball
	» Boxing & Weightlifting
	» Football
	» Golf
	» Martial Arts
	» Outdoors & Camping
	» Ski & Snow Sports
	» Soccer
	» Water Sports
	> Stamps & Collectables
	> Taxes & Accounting
	> Telecom & VoIP
	> Theme Parks
	> Trade Shows
	> Transportation
	> Travel & Tourism
	> US & World History
	> Veterinary & Pets
	> Water & Wastes
	> Wood & Glass Products

	> U.S. State Newswires
	> Alabama Business
	> Alaska Business
	> Arizona Business
	» Phoenix Business
	» Sedona Business
	> Arkansas Business
	> California Business
	» Hollywood Business
	» Los Angeles Business
	» Orange County Business
	» Sacramento Business
	» San Diego Business
	» San Francisco Business
	» San Jose Business
	» Santa Barbara Business
	» Silicon Valley Business
	> Colorado Business
	» Boulder Business
	» Denver Business
	> Connecticut Business
	> Delaware Business
	> Florida Business
	» Fort Lauderdale Business
	» Miami Business
	» Orlando Business
	» Tampa Business
	> Georgia Business
	» Atlanta Business
	> Hawaii Business
	> Idaho Business

	> Illinois Business
	» Chicago Business
	> Indiana Business
	> Iowa Business
	> Kansas Business
	> Kentucky Business
	> Louisiana Business
	> Maine Business
	> Maryland Business
	» Baltimore Business
	> Massachusetts Business
	» Boston Business
	> Michigan Business
	> Minnesota Business
	> Mississippi Business
	> Missouri Business
	> Montana Business
	> Nebraska Business
	> Nevada Business
	» Las Vegas Business
	> New Hampshire Business
	> New Jersey Business
	> New Mexico Business
	> New York Business
	> North Carolina Business
	» Asheville Business
	» Charlotte Business
	> Ohio Business
	> Oklahoma Business
	> Oregon Business
	> Pennsylvania Business
	» Philadelphia Business
	> Puerto Rico Business
	> Rhode Island Business
	> South Carolina Business
	> South Dakota Business
	> Tennessee Business
	> Texas Business
	» Austin Business
	» Dallas Business
	» Houston Business
	> Utah Business
	> Vermont Business
	> Virginia Business
	> Washington D.C. Business
	> Washington State Business
	» Kirkland Business
	» Seattle Business
	> West Virginia Business
	> Wisconsin Business

	> World Newswires
	> Australia Business
	> Brazil Business
	> Canada Business
	» Ontario Business
	» Quebec Business
	» Vancouver Business
	> China Business
	> Germany Business
	> Honduras Business
	> Italy Business
	> Mexico Business
	> Spain Business
	> United Kingdom

	> Video News Releases