FraudChex® ATO is a robust account takeover protection tool developed to combat financial crime by safeguarding institutions and their customers. It meticulously verifies critical customer information changes, including address, phone number, IP address, and email, to detect and prevent increasingly prevalent forms of financial fraud. The solution actively defends against both current and emerging fraud schemes, integrating an advanced alert management system. This system centralizes all fraud mitigation activities, significantly streamlining investigation processes for financial institutions. By deploying FraudChex ATO, organizations can substantially reduce potential financial losses and the time spent recovering from fraudulent activities. Crucially, it ensures that legitimate customer information updates do not result in service interruptions, thereby maintaining a positive customer experience while enhancing security. Chex Systems, Inc., an indirect wholly owned subsidiary of FIS, provides this non-FCRA service, offering a comprehensive defense mechanism against account takeover fraud.

Features & Benefits

• Comprehensive Account Takeover Protection
  • Verifies customer address, phone number, IP, and email changes to protect institutions and customers from financial crime.
  • Reduces losses due to fraudulent accounts.
  • Identifies suspicious behavior using predictive models and user-defined business rules.
  • Performs additional validation steps upon detection of changes representing unacceptable risk.
• Streamlined Fraud Investigation
  • Features an alert management system that centralizes fraud mitigation activities.
  • Improves the efficiency of investigations.
  • Increases investigator productivity by allowing focus on the riskiest items.
• Customer Experience Preservation
  • Ensures customers won’t experience service interruptions when making legitimate information changes.