KeyBank has launched enhanced version of its Key Business Online tool that is claimed to combine check and Automated Clearing House fraud prevention capabilities designed for small and medium-sized enterprises.

In its new version Key Business Online tool, KeyBank has added a new feature to help small and medium-sized enterprises (SMEs) recover funds on deposited items returned for non-sufficient funds. Key Business Online was launched in April 2008.

The new fraud prevention features enable businesses to review the previous day’s posted check and Automated Clearing House (ACH) items and reverse those that appear to be fraudulent or unauthorized.

Eric Girard, vice president of business internet services at KeyBank, said: While online services that help prevent check and ACH fraud have been available separately to larger businesses for some time, this is the first time a bank has offered both of these services in a combined view to small and medium-sized companies.