PHOENIX, Ariz. (CitizenWire) — CONIX Systems, Inc. (CONIX), a leading international provider of payment processing solutions to the financial services industry announces CSI: Payments, a product suite that includes Fraud Detective™, the solution created to help banks and payment processors be more effective in fighting fraud, while operating more cost effectively and improving customer service, Dupe Detective™; the duplicate detection solution used by more top 25 U.S. banks; and EIRD™, the enterprise-wide, high-performance image replacement document solution.
Together, Fraud Detective and Dupe Detective enable the Day 1 identification and disposition of duplicate payments, fraud suspects and other critical exceptions in a common rules-based review. These products enable banks to improve risk management, provide enhanced protection for the bank and the customer from fraud, and promote a solid return on investment.
CONIX will demonstrate CSI: Payments to attendees of BAI Payments Connect 2011, March 7 – 11, 2011 at Booth #506.
“The potential impact of fraud on the payments stream in the U.S. and its neighbors is beginning to be better understood by risk management personnel, especially in the very real world of coordinated cyber-attacks,” said CONIX’s CEO Mike Charles. “Fraud isn’t just bad for your bank – fraud is bad for banking.”
Fraud Detective is a simple, yet powerful, solution that links a bank’s fraud detection and other exception processing solutions closer to the transactions’ point of entry into the payments stream. By finding and identifying potentially fraudulent transactions earlier, Fraud Detective mitigates risk, enhances workflow, and enables protection both for the bank and its customers.
Fraud Detective processes payments from all payment sources and channels, including image exchange, ACH and RDC. The solution integrates with the bank’s legacy systems for early identification of potentially fraudulent payments, as well as other critical exception types. Day 1 identification avoids incorrect postings to banks’ customer accounts and enables loss prevention.
“CONIX talks with banks and processors every day about their challenges. Among those is the realization that even a small percentage of fraud, in a high-volume environment, can have a devastating impact on their reputation and profitability. Fraud Detective provides peace of mind to bankers in the face of sobering developments in the payments landscape,” said CONIX’s Managing Director of Sales, Steve Fortson.
“CONIX is uniquely qualified to intercept payments fraud in Day 1 while keeping pace with high-volume Day 1 payment processing systems. We have been providing Day 1 payments processing software and services to the top tier financial institutions and payments processors for nearly two decades. We have developed and delivered server-based solutions to the industry that are unsurpassed in performance and quality because we listen closely to our customers,” said Charles.
CONIX invites bankers to experience CSI: Payments, including demonstrations of its Fraud Detective™ and Dupe Detective™ products at the BAI Payments Connect 2011 conference in Phoenix, AZ, March 7-11 (booth #506).
About CONIX Systems, Inc.:
CONIX Systems, Inc. (www.CONIX.com) is a world leader in providing payment processing software and related services to the financial services industry. The company’s products perform key processing tasks for an estimated tens of billions in payments each year. CONIX software and services are used by approximately 80 percent of the largest U.S. banks. Its comprehensive solutions are simple to use in production and simple to maintain, guaranteeing high quality performance at the lowest cost.
CONIX has a reputation for driving innovation with products such as Dupe Detective™, which prevents duplicate payments from all channels from posting to customer accounts; Fraud Detective™, which accelerates exceptions processing into Day 1, significantly reducing fraud risk for institutions and their customers; and Enterprise IRD™, which enables comprehensive, high-volume IRD authoring across the enterprise.
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 (800) 332-1899.
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