Centrix Solutions Exact/TMS Check & ACH Positive Pay

The Exact/TMS Payee Match module enhances the check positive pay process by validating the payee on the check image against the payee name that the corporate client included in their issued check file. This process adds another
layer of protection against unauthorized disbursements and fraudulent checks, beyond validating common data such as check number and check amount. Payee Match detects altered payee information by dynamically finding and extracting the payee name(s) on checks or substitute checks, regardless of the location, even if it is close to other information or if the payee name spans multiple lines.

Benefits and Points of Emphasis

• Protect Customers with Improved Transaction Security. Traditional positive pay compares micr information from the paid check against the data that was submitted by the client (issuer) in the issued check file. Today, this is a basic treasury service product offering for many financial institutions and criminals understand this. Moreover, changing the payee on a check is much more difficult to detect unless the proper technology is in place to automate this process. Exact/TMS with payee match provides this technology to community banks.
• Competitive Advantage. Enhanced treasury management services such as payee match and ACH positive pay provide a competitive advantage over other community banks and enable a financial institution to effectively compete with super regional and national banks for corporate accounts. No longer is payee match technology limited to big banks with big budgets. Centrix has evened the playing field for the community bank.
• Single Solution with Multiple Transaction Management Functions. Tight budgets require a community bank to leverage their technology spending. Exact/TMS incorporates a broad range of transaction management and transaction fraud detection benefits, thus providing an immediate impact on customer service and a sustainable ROI. Exact/TMS incorporates check positive pay (with payee match), ACH positive pay, ACH EDI translation, ACH returns and NOC processing, check reconcilement statements and deposit reconcilement statements within a single system.
• Automation means minimal operational intervention: Exact/TMS is a completely automated system that minimizes manual intervention by the bank. The system is designed as a self service product for corporate clients to utilize via the internet. Automated, nightly processing identifies exceptions or creates reports for clients, sends an email to alert the client, and enables the client to make pay/return decisions or retrieve customized reports via a web interface.

Centrix Solutions Inc.
www.centrixsolutions.com

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