Valid Systems’ AI technology detects fraudulent check deposits, saving banks millions while streamlining reviews and minimizing fraud risks.
With two decades of innovation in deposit risk management, Valid Systems is thrilled to announce a pivotal moment: the recent patent awarded for our groundbreaking Real-Time Loss Alerts technology. This milestone reaffirms our steadfast commitment to pushing the boundaries of secure and efficient financial solutions in today’s ever-evolving landscape.
This innovative machine learning technology, resulting from extensive research and development, revolutionizes how banks assess the risk associated with check deposits. With over $225M in fraudulent check deposits identified by Real Time Loss Alerts, Valid offers surgical precision with massive fraud loss reduction. Valid uses its homegrown unique payer network, account attributes, and real-time transaction trends to build first-in-class models like RTLA.
RTLA streamlines the review process by triaging and prioritizing transactions, assigning each severity score and risk distribution band using a sophisticated model. This revolutionary product allows banks to strike the optimal balance between reducing fraud and addressing internal efficiency challenges.
In an era defined by the rise of faster payment options, financial institutions have shifted their focus and investments away from traditional check fraud prevention measures. However, this shift has inadvertently created a gap that opportunistic fraudsters have exploited, leading to a concerning surge in check fraud nationwide.
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Valid Systems’ relentless pursuit of product innovation reshapes the financial landscape with cutting-edge solutions that combine expertise and technology. This latest patent marks the 11th grant awarded in this area, serving as a testament to Valid’s dedication to continual innovation in the financial sector, focusing on fraud detection using AI and machine learning.
As we continue to pioneer advancements that shape the future of finance, Valid Systems remains committed to delivering solutions that exceed the evolving needs of our clients and the industry.
