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Heritage Bank of Commerce Unveils New Fraud Protection Solutions

Heritage Bank of Commerce has launched a new fraud prevention tool Direct ACH Debit Block and Filtering, which will be available either separately or in conjunction with Positive Pay Check Fraud Protection.

The new solution detects suspicious activity and blocks transactions in real-time. It will prevent electronic payments fraud with high-volume, real-time, cross channel transaction monitoring, alerting, filtering and blocking

ACH Debit Block protects companies from the costly possibility of paying unauthorized ACH debit transactions. It enables businesses to specify which companies are authorized to post ACH debits to their respective accounts. Businesses have the ability to block all ACH debits from posting, or only those that exceed a set dollar amount.

ACH Filtering allows businesses to review and confirm ACH debit and credit transactions that post to their accounts on a case by case basis. Through the Heritage Direct Online Banking system, businesses can determine if the transaction is authorized and return any transactions that are not.

Moreover, each ACH transaction can be filtered and reviewed by any combination of debits and credits, dollar amount range, originating company and transaction types. ACH Filtering is complimentary to the ACH Debit Block to review transactions not blocked with this service.

Chris Gust, senior vice president of cash management manger at Heritage Bank of Commerce, said: “Heritage Bank of Commerce pro-actively partnered with Centrix Solutions, located in Lincoln, Nebraska, to launch an ACH solution that helps our business clients address the increased fraud exposure involving electronic funds transfers.

“At the same time, experts project that ACH fraud will continue to be a growing threat as the movement towards electronic payments gains momentum.”

Heritage Bank of Commerce is the operating subsidiary of California-based Heritage Commerce, a bank holding company.