Open Solutions will now offer BankDetect/CU-Detect products including new account, Office of Foreign Assets Control (OFAC) and other identity-screening services that will provide options for basic to advanced identity analysis and monitoring; account risk management solutions that produce and maintain risk profiles for both fraud prevention and compliance; and account activity analysis solutions for risk detection, fraud prevention, anti-money laundering and identification theft compliance.
David Mitchell, senior vice president and chief marketing officer of Open Solutions, said: “With this agreement, Open Solutions can now offer our clients a full spectrum of fraud prevention and risk compliance solutions, and our clients can now opt for these solutions to be core platform-supported.
“We’re very confident in the BankDetect and CU-Detect products and staff, who have many years of intelligence and law enforcement experience, both with domestic and foreign military and government agencies. They’re not only knowledgeable – they also provide exceptional customer service.”
Bob Cofod, president and founder of BankDetect/CU-Detect, said: “We are very pleased to have a closer relationship with Open Solutions and believe this is the basis for significantly improving the fraud prevention and compliance services available to Open Solutions clients.
“In particular, the ability to integrate our services with core processes is a major benefit to Open Solutions customers and provides the opportunity for seamless prevention and compliance processes from account opening to daily activity monitoring.”
Open Solutions offers strategic information management product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, HSAs, payments and loan origination solutions.
BankDetect/CU-Detect, a division of FrauDetect, is a privately held knowledge-based technology company that focuses on loss prevention and compliance for financial industries.
