CSI Launches Advanced Check Fraud Detection Tool in Partnership With Mitek Systems
CSI has launched a new check fraud detection solution for NuPoint® customers, powered by Mitek Systems (MITK). The solution provides real-time fraud detection capabilities at bank teller lines, with overnight evaluation for alternative deposit methods. The technology leverages computer vision and AI to analyze 24 scorable check attributes, enabling instant detection of potentially fraudulent transactions.
The launch comes amid a 90% increase in check fraud-related suspicious activity from 2021 to 2023. The solution utilizes Mitek's consortium of financial institutions, representing millions of consumers, to improve detection rates and streamline review processes. The system features continuous learning through consortium sharing and operates in a secure, cloud-hosted environment with ISO 27001-certified security protocols.
CSI ha lanciato una nuova soluzione per la rilevazione delle frodi relative agli assegni per i clienti di NuPoint®, alimentata da Mitek Systems (MITK). La soluzione offre capacità di rilevamento delle frodi in tempo reale presso le casse delle banche, con valutazione notturna per metodi di deposito alternativi. La tecnologia sfrutta visioni computerizzate e IA per analizzare 24 attributi degli assegni valutabili, consentendo la rilevazione immediata di transazioni potenzialmente fraudolente.
Il lancio avviene in un contesto di aumento del 90% delle attività sospette legate alla frode degli assegni dal 2021 al 2023. La soluzione utilizza il consorzio di istituzioni finanziarie di Mitek, che rappresenta milioni di consumatori, per migliorare i tassi di rilevamento e semplificare i processi di revisione. Il sistema presenta apprendimento continuo attraverso la condivisione del consorzio e opera in un ambiente sicuro, ospitato nel cloud, con protocolli di sicurezza certificati ISO 27001.
CSI ha lanzado una nueva solución para la detección de fraudes en cheques para los clientes de NuPoint®, impulsada por Mitek Systems (MITK). La solución proporciona capacidades de detección de fraudes en tiempo real en las líneas de caja de los bancos, con evaluación nocturna para métodos de depósito alternativos. La tecnología utiliza visión por computadora e IA para analizar 24 atributos de cheques calificables, permitiendo la detección instantánea de transacciones potencialmente fraudulentas.
El lanzamiento se produce en medio de un aumento del 90% en la actividad sospechosa relacionada con fraudes en cheques desde 2021 hasta 2023. La solución utiliza el consorcio de instituciones financieras de Mitek, que representa a millones de consumidores, para mejorar las tasas de detección y agilizar los procesos de revisión. El sistema presenta aprendizaje continuo mediante el intercambio del consorcio y opera en un entorno seguro, alojado en la nube, con protocolos de seguridad certificados ISO 27001.
CSI는 Nupoint® 고객을 위한 새로운 수표 사기 탐지 솔루션을 Mitek Systems (MITK)의 지원으로 출시했습니다. 이 솔루션은 은행 창구에서 실시간으로 사기 탐지 기능을 제공하며, 대체 입금 방법에 대한 평가를 야간에 수행합니다. 이 기술은 컴퓨터 비전과 AI를 활용하여 24개의 평가 가능한 수표 속성을 분석함으로써 잠재적으로 사기성 거래를 즉시 감지할 수 있습니다.
이번 출시는 2021년부터 2023년까지 수표 사기와 관련된 의심스러운 활동이 90% 증가한 가운데 이루어졌습니다. 이 솔루션은 수백만 소비자를 대표하는 Mitek의 금융 기관 컨소시엄을 활용하여 탐지율을 개선하고 검토 프로세스를 간소화합니다. 시스템은 컨소시엄 공유를 통해 지속적인 학습 기능을 갖추고 있으며, ISO 27001 인증 보안 프로토콜을 갖춘 안전한 클라우드 호스팅 환경에서 운영됩니다.
CSI a lancé une nouvelle solution de détection de fraude par chèque pour les clients de NuPoint®, propulsée par Mitek Systems (MITK). La solution offre des capacités de détection de fraude en temps réel aux guichets bancaires, avec une évaluation nocturne pour les méthodes de dépôt alternatives. La technologie utilise vision par ordinateur et IA pour analyser 24 attributs de chèque évaluables, permettant une détection instantanée de transactions potentiellement frauduleuses.
Le lancement intervient dans un contexte d'augmentation de 90 % des activités suspectes liées à la fraude par chèque entre 2021 et 2023. La solution utilise le consortium d'institutions financières de Mitek, représentant des millions de consommateurs, pour améliorer les taux de détection et simplifier les processus de révision. Le système dispose d'un apprentissage continu grâce au partage du consortium et fonctionne dans un environnement sécurisé, hébergé dans le cloud et respectant les protocoles de sécurité certifiés ISO 27001.
CSI hat eine neue Lösung zur Betrugserkennung bei Schecks für Kunden von NuPoint® gestartet, die von Mitek Systems (MITK) unterstützt wird. Die Lösung bietet Echtzeit-Betrugserkennung an Bankschaltern, mit nächtlicher Auswertung für alternative Einzahlungsmethoden. Die Technologie nutzt Computervision und KI, um 24 bewertbare Scheckattribute zu analysieren, was eine sofortige Erkennung potenziell betrügerischer Transaktionen ermöglicht.
Der Start erfolgt vor dem Hintergrund eines Anstiegs von 90% der verdächtigen Aktivitäten im Zusammenhang mit Scheckbetrug von 2021 bis 2023. Die Lösung nutzt das Konsortium von Finanzinstituten von Mitek, das Millionen von Verbrauchern vertritt, um die Erkennungsraten zu verbessern und die Überprüfungsprozesse zu rationalisieren. Das System bietet kontinuierliches Lernen durch Konsortiums-Sharing und funktioniert in einer sicheren, cloudbasierten Umgebung mit den Sicherheitsprotokollen nach ISO 27001.
- Partnership with CSI expands Mitek's market reach in check fraud prevention
- Solution addresses growing market need with check fraud up 90% (2021-2023)
- Technology leverages consortium data from millions of consumers
- Real-time detection capabilities at point of transaction
- None.
Insights
The strategic partnership between Mitek Systems and CSI marks a pivotal advancement in the $4.7 billion check fraud detection market. This collaboration presents significant revenue potential for Mitek Systems through its integration with CSI's NuPoint® platform, which serves numerous community banks nationwide.
The solution's distinguishing features create substantial competitive advantages:
- Real-time detection at the teller line, a first-of-its-kind capability
- AI-powered analysis of 24 check attributes
- Consortium-based learning system leveraging millions of consumer profiles
- ISO 27001-certified security protocols with end-to-end encryption
The timing is particularly strategic, addressing the 90% surge in check fraud activity between 2021-2023. The consortium approach creates a powerful network effect - as more banks join, the system's detection capabilities improve exponentially, establishing a formidable barrier to entry for competitors.
For Mitek Systems, this partnership could accelerate market penetration in the community banking sector, where fraud detection solutions have traditionally been less sophisticated. The cloud-hosted environment and continuous learning capabilities position the company to capture recurring revenue through subscription-based pricing models, while the consortium data sharing creates sticky customer relationships.
The technology's ability to reduce manual review processes while enhancing detection accuracy addresses both operational efficiency and risk management priorities for banks, suggesting strong potential for rapid market adoption. This could translate into sustained revenue growth for Mitek Systems as financial institutions prioritize fraud prevention investments.
“Our main goal is to protect our customers. By detecting fraud right at the teller line, we can proactively safeguard their assets,” said Heather Deneault, assistant vice president and deposit operations and branch management officer at Denison State Bank in
Check fraud has surged dramatically in the past three years, with a reported
“As check fraud schemes continue to become more sophisticated and difficult to detect, it is essential to have a solution that delivers fast, consistent protection,” said Steve Sanders, chief risk and information security officer for CSI. “CSI’s check fraud detection solution is the first of its kind at the teller line. By leveraging computer vision and AI technology, we can reduce fraud losses and ensure our customers receive the most advanced protection available.”
The new solution continuously learns through consortium sharing, offering fraud protection at various levels of complexity to potentially predict future changes. Analysts can compare multiple check attributes against profiles stored in a secure, cloud-hosted environment that employs end-to-end encryption and adheres to ISO 27001-certified security protocols, delivering a new level of security to community banks.
“We’re thrilled to partner with CSI to integrate Mitek’s Check Fraud Defender into their NuPoint solution, expanding our collective impact in the fight against check fraud,” said Michael Diamond, senior vice president and general manager at Mitek Systems. “With our expertise in real-time fraud prevention and consortium-based data sharing, this collaboration enables more banks to detect fraud instantly at the teller line, strengthening in-branch security and helping financial institutions stay ahead of evolving threats.”
For more information, visit csiweb.com.
About CSI
As a forward-thinking software provider, CSI helps community and regional banks, as well as organizations worldwide, solve their customers’ needs through open and agile technologies. In addition to its nearly 60-year reputation for personalized service, CSI is shaping the future of banking by swiftly deploying advanced solutions that help its customers rival their competition.
About Mitek Systems
Mitek (NASDAQ: MITK) is a global leader in digital access, founded to bridge the physical and digital worlds. Mitek’s advanced identity verification technologies and global platform make digital access faster and more secure than ever, providing companies with new levels of control, deployment ease, and operation while protecting the entire customer journey. With solutions trusted by 7,900 organizations around the world, including the majority of North American financial institutions that rely on our mobile check deposit solutions, Mitek helps companies reduce risk and meet regulatory requirements. Learn more at miteksystems.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250206170577/en/
Media Contact:
For CSI,
Emma Chase
Red Fan Communications
media@csiweb.com
512-917-4319
For Mitek,
pr@miteksystems.com
Source: CSI
FAQ
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