Positive
Pay reduces fraud by validating the
checks presented to us by automatically
matching the items against customer-issued
check records. An item presented
for payment that does not match a
corresponding item in the customer-issued
check record is flagged as an exception
and referred to the customer for
a pay/no pay decision.
Positive Pay detects counterfeit items,
items having duplicate serial numbers,
voided checks presented for payment,
stolen checks, checks with altered
amounts, and checks with altered payee
lines.
Integrating First National's industry-leading,
cutting edge imaging technology with
internet access enables the Positive
Pay fraud detection system to eliminate
the inefficiencies and inaccuracies
inherent with traditional non-image
positive pay systems.
Since most existing positive pay systems
rely heavily on the physical checks, they
are extremely labor- and paper- intensive.
However, First National's Positive Pay
is directly integrated with our core image
processing system, and uses standard, off-the-shelf
browser technology, eliminating both the
reliance on physical checks and the technical
barriers that often impact successful product
utilization by a customer base as diverse
as our own.
This sophisticated application can
also operate in a reverse positive
pay mode, providing a fraud prevention
tool that can be easily implemented.
Our reverse positive pay customers
view all paid items on a daily basis,
along with the captured check images,
and can elect to return any or all
of the items with a simple web-based
program that is integrated into our
web site.
As an added benefit, all positive
pay accounts are guaranteed to have
the correct check number on all
paid checks, streamlining the reconciliation
process. System-generated reports provide
current information on issued, paid, and
exception items.
Positive Pay is our solution to providing
our business customers with true competitive
advantages and revenue generation opportunities.
For more information regarding First
National's Positive Pay system, please
contact us at 800.869.9456.
