CustomerCentral Risk Reducer allows Financial Service Providers (FSPs) to confirm ownership of deposit accounts held with other institutions in real-time, dramatically reducing ACH transaction risk and cost. FSPs can either integrate Risk Reducer into their existing Internet application for an on-site account verification solution, or run it remotely as an ASP.

Key advantages

	Employs real-time online access to authenticate your customers' stated account information in seconds, unlike traditional authentication methods, which require customers to mail or fax documents to prove their identity or account ownership.
	For even greater risk management, Risk Reducer compares your customers' external account number, account owner name, and account owner address against credit bureau data to generate a CustomerCentral Account Ownership Score. Your institution is able to use the Score to make more informed account ownership risk decisions.

Benefits to your customers

	Faster service: Your customers receive immediate decisions on account opening or account approval.
	Safety: Automation reduces identity fraud and account theft risks associated with paper-based authentication.

Benefits to Financial Service Providers

	Reduce risk: Real-time online account authentication eliminates the risk of document forgery associated with traditional verification methods (such as old statements and voided checks).
	Reduce cost: Automated online verification eliminates the costly review of faxed or mailed documents.
	Increase customer responsiveness: Immediate customer screening reduces the burden on applicants, and reduces the attrition involved with non-automated verification methods.
	Flexibility: You may deploy Risk Reducer as a software module on your premises, or run it as an ASP hosted at an SAS 70 Level 2-certified data center.

Added benefits of using other CustomerCentral modules

Combined with CustomerCentral Account View, you have an entirely in-house account verification solution, and are able to confirm ownership of deposit accounts held away from your institution in real-time, dramatically reducing transaction risk and cost.

Combined with CustomerCentral Account Opening and Funding, you're able to turn a prospect into a customer, with an open and funded account, in 15 minutes. Initial account funding via ACH will become your preferred funding method.

Detailed information

CustomerCentral Risk Reducer has advanced capability that provides the FSP with certainty about the user identity and held away deposit account ownership:

	User identity verification: In-Wallet and Out-of-Wallet checks by Equifax and Experian provide certainty about the user's identity as well as eFunds for fraud checking.
	Real-time deposit account ownership verification using the CustomerCentral Account Ownership Score. It's one of the most advanced systems in the industry for determining held away deposit account ownership, including: Real-time matching and verification of external deposit account owner name and address. Real-time matching verification of external deposit account number.
	For those accounts not able to be verified online in real-time, a mechanism is provided to determine ownership in 2-3 days using ACH small dollar debits and credits. Each component can be optionally deployed. User identity. Account ownership verification.
	The raw scoring data is returned to the FSP for further screening.
	Easy integration into the institution's Internet application using CustomerCentral Enterprise server JSP pages or the Web service XML API.
	Key CSR and administrator reporting features and functions: All raw data available by user and by date. Authorized CSRs can override or review scoring. Modifiable logging level by user, partner (for multi-bank implementations), aggregate, connector or system-wide. Ability to reset the download token for a specific user. Billing report. Extensive and configurable logging and reporting.
	Built on the CustomerCentral Enterprise server, which provides key infrastructure for the application, including: Hardware Security Module (HSM) for FIPS 140 level 3 encryption support, the same as ATM PINs. Flexible integration methods, including an XML interface or JSP pages, with every page being an entry point into the application. Consolidated administrative interface with extensive logging and reporting. An optional and extensive data warehouse as a stand-in data source or middleware. Service-bureau capable for multi-FSP support from a single software installation.