Fundtech, a provider of transaction banking solutions, has launched PAYplus Data Monitoring Module, a fraud prevention system integrated into PAYplus USA that can identify and stop suspicious payment activity before the transaction is sent.
Fundtech said that PAYplus Data Monitoring Module is a rules-based system and enables banks to customize triggers that fit each corporate customer’s usage patterns, to minimize the errors and false positives.
According to Fundtech, PAYplus Data Monitoring Module enables the clients to develop rules-based triggers based on data models associated with each customer’s behavior and infrastructure (such as origination source of the transaction). When unusual activity is detected, the module triggers an alert and holds the payment until a decision is made on the course of action to take.
Anthony Salamone, vice president of US payments for Fundtech, said: “As a result, we developed the PAYplus Data Monitoring Module so that our payments clients are better able to stop, identify and analyze suspicious activity prior to the transaction being sent.”