How to prevent check fraud without harming the customer experience
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How to prevent check fraud without harming the customer experience
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About this listen
Despite the rise of digital payments, checks remain a valid form of payment, especially for businesses and individuals. With mobile deposit and ATM deposits, it's more convenient than ever to deposit a check. However, this brings with it a risk for fraud. In today's episode of the Bank Customer Experience podcast, Bradley Cooper spoke with Scott Fieber, chief strategy officer at Cook Solutions Group and Austin Smith, director of product development at Cook Solutions Group about how to prevent check imaging fraud without harming the customer experience.
In many cases, this topic is a balancing act for banks. They need to provide funds for deposited checks in a reasonable time frame, but they also have to be aware of individuals attempting to commit fraud by withdrawing cash before a check bounces.
During the podcast, Smith and Fieber discussed issues surrounding checks in detail include:
- Are ATMs seeing in an increase in check deposits?
- What are some of the ways people commit check fraud with ATM check deposits?
- How is Cook Solutions Group involved in check imaging?
- How can banks keep up with customer demands for funds availability while still preventing fraud?
- What are ways AI can help?