MANCHESTER, Vt., Feb. 28, 2013 (SEND2PRESS NEWSWIRE) -- CONIX Systems Inc. (CONIX), a leading international provider of payment processing solutions to the financial services industry, is pleased to announce that Trustmark National Bank (Trustmark) will add Fraud Detective(R) to the bank's payment processing operation. Fraud Detective helps banks and payment processors reduce both risk and cost by improving the speed and accuracy of identifying payment fraud across payment channels. Trustmark, with approximately 220 branch locations in Alabama, Florida, Mississippi, Tennessee, and Texas, is a subsidiary of Trustmark Corp (NASDAQ:TRMK), a diversified financial services company with approximately $11.5 billion in assets that provides banking, wealth management, and insurance solutions.
Fraud Detective integrates Day 1 detection capabilities, proven fraud controls and user-driven business rules for early identification and resolution of fraudulent payments. The product also offers image analytics as an optional feature for performing key validations that assist in identifying counterfeit, forged, or altered documents.
"Trustmark has systematically implemented payment alternatives for the benefit of its customer accounts while strengthening the bank's risk management infrastructure," said Chris Payne, the Image Processing Manager at Trustmark National Bank. "We are well-acquainted with CONIX Systems' risk management products and support services, and have full confidence in its ability to support our goals."
Fraud Detective applies user-defined fraud controls based on historical transaction data to incoming payments to determine whether they are typical or suspect transactions. Account activities that are indicators of kiting, account takeover, and other fraudulent activities are detected and routed for further decisioning. Fraud Detective shares the same infrastructure, including the same database, as CONIX Systems' Dupe Detective(R) product. Trustmark has relied on Dupe Detective since 2010 to protect against duplicate payments across its check and ACH operations, and with the addition of Fraud Detective, can now realize the advantages this combination brings. These advantages include the improved efficiency of a shared duplicate and fraud review process, combined workflows, and lower maintenance and hardware costs.
"Payment processing is a core banking service for which Trustmark is committed to providing vigilant monitoring and robust guardianship," said Payne. "Adding Fraud Detective to the bank's payment environment is an important component of our risk management strategy. We know from experience CONIX Systems stands behind its products and we believe this partnership will continue to benefit Trustmark well into the future."
"CONIX deeply appreciates the trust Trustmark has in our software and team," said CONIX's President and CEO, Mike Charles. "Our two organizations share a vision for a more secure and robust payments environment that benefits institutions, their account holders, and the banking industry."
"Trustmark Bank's selection of Fraud Detective bolsters its commitment to reducing operating costs on its expanding deposit base, safeguarding its payments operation, and delivering secure services and transactions to its account holders," said CONIX Managing Director of Sales, Steve Fortson.
About CONIX Systems, Inc.:
For over two decades, CONIX Systems, Inc. (http://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. CONIX Systems' 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 many Day 2 fraud processes 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 firstname.lastname@example.org.
About Trustmark National Bank:
Trustmark National Bank is a subsidiary of Trustmark Corporation, a diversified financial services company with approximately $11.5 billion in assets. Trustmark provides banking, wealth management and insurance solutions through its subsidiaries, including Trustmark National Bank, Trustmark Investment Advisors, Inc., TRMK Risk Management, Inc., and Fisher Brown Bottrell Insurance, Inc. With locations in Alabama, Florida, Mississippi, Tennessee and Texas, Trustmark has over 3,100 associates working to achieve outstanding customer satisfaction by understanding their customers' needs and providing appropriate financial solutions.
For more information regarding this press release, please visit:
Rights granted for reproduction by any legitimate news organization. However, if news is cloned/scraped verbatim, then original attribution must be maintained with link back to this page as “original syndication source.” Resale of this content for commercial purposes is prohibited without a license. Reproduction on any site selling a competitive service is also prohibited. Information is believed accurate, as provided by news source or authorized agency, however is not guaranteed, and you assume all risk for use of any information found herein/hereupon. This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.
2984 times (3 today, 20 this week, 121 this month, 532 this year)