Valid Systems Leads the Charge in Combating Rising Deposit and Check Fraud with Cutting-Edge Innovations

FORT WORTH, Texas, Sept. 26, 2024 /PRNewswire/ — With two decades of innovation in deposit risk management, Valid Systems is thrilled to announce a pivotal moment: the recent patent awarded for our groundbreaking Real-Time Loss Alerts technology. This milestone reaffirms our steadfast commitment to pushing the boundaries of secure and efficient financial solutions in today’s ever-evolving landscape.

This innovative machine learning technology, the result of extensive research and development, revolutionizes how banks assess risk associated with check deposits. With over $225M in fraudulent check deposits already identified by Real Time Loss Alerts, Valid offers surgical precision with massive fraud loss reduction. Valid uses it’s homegrown unique payer network, account attributes and real time transaction trends to build first in class models like RTLA.

RTLA streamlines the review process by triaging and prioritizing transactions, assigning each one a severity score and risk distribution band using a sophisticated model. This revolutionary product allows banks to strike the optimal balance between reducing fraud and addressing internal efficiency challenges.

In an era defined by the rise of faster payment options, financial institutions have shifted their focus and investments away from traditional check fraud prevention measures. However, this shift has inadvertently created a gap that opportunistic fraudsters have exploited, leading to a concerning surge in check fraud nationwide.

Valid Systems’ relentless pursuit of product innovation is reshaping the financial landscape with cutting-edge solutions that combine expertise with technology. This latest patent marks the 11th grant awarded in this area, serving as a testament to Valid’s dedication to continual innovation in the financial sector, with a focus on fraud detection using AI and machine learning.

As we continue to pioneer advancements that shape the future of finance, Valid Systems remains committed to delivering solutions that exceed the evolving needs of our clients and the industry.

About Valid Systems:

VALID Systems is an AI powered account risk and transaction decisioning company. We remove the friction caused by fraud to deliver liquidity solutions for the largest FI’s in the nation. From check risk and deposit acceleration to account risk and small dollar lending, we have been providing risk management solutions for the nation’s largest financial intuitions and financial service providers for over 20 years. Read more about Valid Systems at www.validadvantage.com.

Media Contact
Donna Cichani,
SVP Product Management,
[email protected] 

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SOURCE Valid Systems