ACH Alert BIO-WIRE
BIO-WIRE defeats wire fraud like no other solution on the market today. BIO-WIRE takes layered security to the next level, going above and beyond the effective controls cited in the FFIEC guidance requirements by providing a 100 percent out-of-band, biometric verification method for financial institution customers to respond to suspicious wire activity alerts. BIO-WIRE eliminates the need for call backs on recorded lines, saving financial institutions countless man hours and dramatically improving the customer experience.
Four reasons why BIO-WIRE merits an Innovative Solutions Award:
1. BIO-WIRE is one of the first SaaS wire positive pay products in the market. Instead of requiring an FI's customer to jump through an authentication hoop every time he wants to initiate a wire transfer, the customer is engaged only when BIO-WIRE detects that "where the money is going" is suspect.
2. BIO-WIRE engages the financial institutions customer via relevant, actionable alerts and allows the customer to securely respond 100 percent outside of the online channel, on his timeline and at his convenience.
3. BIO-WIRE is completely automated and secure, combining BIO-WIRE positive pay intelligence with hosted IVR and voice biometric technology to automate anomaly detection and provide a convenient, secure method for financial institution customers to respond to suspicious activity.
4. Saves financial institutions countless hours on wire call backs on recorded lines, improves the customer experience and allows institutions and their customers to collaborate to defeat wire fraud.