CSI, a provider of financial software and technology, announced on February 6, 2025, the launch of its proprietary check fraud detection solution for NuPoint® customers, enabled by Mitek Systems. This solution equips bank tellers with real-time check fraud detection capabilities, addressing a dramatic 90% increase in check fraud-related suspicious activity reported from 2021 to 2023.
The new tool leverages Mitek’s growing consortium of financial institutions, which represents millions of consumers, to provide insights that improve check fraud detection rates and expedite review processes. It offers high-resolution image analysis across 24 scorable check attributes to instantly detect and interrupt potentially fraudulent transactions at the teller line. This integration allows community banks to proactively safeguard assets without relying solely on manual reviews.
Steve Sanders, Chief Risk and Information Security Officer for CSI, stated that the solution is the first of its kind at the teller line, utilizing computer vision and AI technology to reduce fraud losses. Michael Diamond, Senior Vice President and General Manager at Mitek Systems, highlighted that this collaboration expands their collective impact in the fight against check fraud, strengthening in-branch security and helping financial institutions stay ahead of evolving threats.
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