OMAHA, Neb., Feb. 28, 2011 /PRNewswire/ -- Data Support Systems, Inc. (DSS) today announced a partnership with Orbograph to integrate Orbograph Sereno™ fraud detection technology throughout the TRIPS® Image Product Suite. Officially named TRIPS Fraud™, the solution is now available for customer installation and will be demonstrated at BAI ConnectPay in Phoenix, AZ on March 7-8.
The introduction of Sereno technology into the widely accepted TRIPS Exceptions and Returns suite allows DSS to offer superior image-based fraud detection and enhanced transaction analytics as a module to the TRIPS platform. The platform provides a single user interface connected seamlessly to DDA host data. Fraud analysts operating TRIPS will attain significant productivity gains over existing siloed fraud detection methodologies and make more informed "pay or return" decisions to reduce fraud losses. Additionally, TRIPS has the ability to link account activity at a customer level as well as evaluate fraud characteristics of exception items on a real-time basis.
Sereno uses intelligent merge logic called Multi-Source Correlation Modeling™ to combine image analysis with transaction data as a means to attain higher levels of fraud detection accuracy at very low suspect rates. DSS market research indicates that many financial institutions do not yet utilize image analysis technologies including automated signature verification, multi-signature detection, check stock validation, and amount alteration to cut fraud losses and improve productivity.
Carl Bortol, DSS President, said, "We have looked at the business of fraud detection for a long time and are excited to be moving ahead with Sereno; and even more excited to be working with a quality organization like Orbograph. We are taking a very aggressive approach to the introduction of this technology and are thoroughly integrating it throughout TRIPS. This is not an after-the-fact, limit-the-damages approach; in order to be fully protected, image detection and transaction profile analysis must be looked at in every facet of the payment lifecycle."
"DSS is a well respected and experienced industry player that delivers on its commitments," stated Barry Cohen, Orbograph General Manager. "This partnership provides heretofore exciting new opportunities which are very unique to the industry as many large financial institutions are still operating ten year old fraud prevention technologies. The synergies between our companies fulfill a major need."
The white paper "Operationalizing Real-Time Fraud", discussing ways to improve fraud detection and move the decision earlier in the payment workflow is now available at www.orbograph.com.
About Data Support Systems, Inc.
Data Support Systems (www.datasupport.com) develops, sells, and supports the industry-leading TRIPS Suite, which is a fully integrated, universal payment and image solution for back office transaction processing. DSS products include solutions for exceptions, incoming and outgoing returns, notification, image exchange, research and adjustments, Reg E and Reg Z dispute processing, domestic collections, archive, and web delivery/decisioning. DSS is a privately held corporation headquartered in Omaha, Nebraska.
Orbograph (www.orbograph.com), a subsidiary of Orbotech, is a leading provider of recognition-centric software and services for the check processing and forms processing markets. Orbograph's innovative technologies are in use in over 1000 financial institutions and service bureaus, processing billions of checks and forms annually. Through check processing automation, fraud prevention, data mining for marketing and forms processing automation solutions, Orbograph enables clients to envision more for their organization by reducing costs, managing risk and driving revenue growth, while ensuring that achieving more is a reality.
SOURCE Data Support Systems, Inc.