Deluxe Corporation has added ID Analytics for compliance to its existing suite of fraud protection services. It is to help the company and its financial services customers comply with the Red Flags Rules issued by federal financial institution regulators.
As a component of Deluxe OrderScreenSM, ID Analytics for compliance is expected to provide compliance benefits for Deluxe’s financial institution customers, including an additional layer of protection for account holders against fraudulent requests for printed checks. The company said that ID Analytics for compliance detects and automatically resolves identity fraud-related red flags during check ordering for direct deposit accounts.
Bernard McManus, Director of new product innovation for Deluxe, said: “The effectiveness of a financial institution’s Red Flags Rules compliance program is largely dependent upon the risk controls and accountability of its business partners. It’s why we’re always looking for the latest ways to detect, prevent and mitigate identity theft. We’re excited about how ID Analytics will help minimize fraud risk and enhance Red Flags Rules compliance for Deluxe and our financial institution customers.”
Bruce Hansen, CEO at ID Analytics, said: “Working together, Deluxe and ID Analytics are delivering a solution that accurately pinpoints high-risk transactions for resolution to ease the burden of compliance on both organizations and the customers they serve.”
Shoreview, Minnesota-based Deluxe offers web services and search engine marketing services to small businesses and financial institutions.
