SQN outlines its vision for payments fraud detection software

Top Quote SQN Banking Systems, a leading provider of integrated fraud detection tools, enterprise risk management products and workflow solutions for the financial industry. End Quote
  • (1888PressRelease) October 21, 2014 - (RANCOCAS, NJ, October 16, 2014) - SQN Banking Systems (www.sqnbankingsystems.com), a leading provider of integrated fraud detection tools, enterprise risk management products and workflow solutions for the financial industry, recently marked its 30 anniversary offering fraud detection software to financial institutions of all sizes. To mark the occasion, SQN President Joseph Uhland looked toward the future and outlined a roadmap for the company and the industry as a whole.

    "Banks and credit unions need a comprehensive approach to provide cross channel fraud detection tools, but the challenge will continue to be balancing that risk against budgetary constraints," Uhland noted. "For three decades, SQN has been at the forefront of check fraud detection tools, electronic signature verification, automated signature verification, and transaction analysis, but clearly the payments industry is undergoing tremendous changes. We have to adapt our technology for the new threats that arise every day."

    While check fraud continues to be the most common types of payments fraud, changing consumer technology is producing a unique set of risks. Increased adoption of online and mobile banking requires the company to expand its offering of fraud detection software. Increased adoption of online and mobile banking - and increased regulatory requirements that they create - adds a new set of concerns to a bank's risk management efforts.

    In response, SQN has developed fraud detection tools that enable electronic document signing, mobile signature capture, and online signature capture, providing financial institutions with the solutions they need for enterprise-wide signature verification.

    Additionally, SQN is employing their proprietary behavior analysis and transaction analytics software against a wider range of payments to help financial institutions with credit card fraud management, enterprise risk management, and online fraud detection.

    "By redeploying our powerful fraud detection software suite for these evolving threats," Uhland said, "we can provide banks and credit unions with the cross-channel fraud detection they need at a cost they can afford."

    For a demonstration of SQN's fraud detection software, contact Rachel Woodman, SQN Banking Systems' Director of Sales & Marketing, at 484-961-0490, or by emailing her at rwoodman ( @ ) sqnbankingsystems dot com dot

    About SQN Banking Systems
    For more than 30 years, SQN Banking Systems has provided innovative fraud detection products to the financial industry. The SENTRY suite includes real-time fraud analysis, exception item processing, image fraud detection, transaction analysis, automated and visual signature verification, official check verification, and safe deposit management. For more information, visit us at http://www.sqnbankingsystems.com

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