In response to the growing threat of check fraud across the U.S., CSI, a leading provider of end-to-end financial software and technology, has introduced a cutting-edge check fraud detection solution tailored for NuPoint® customers. Powered by Mitek Systems, this innovative tool equips bank tellers with real-time fraud detection capabilities while ensuring that alternative deposit channels undergo comprehensive overnight evaluation.
“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 Northeast Kansas. “We’re leveraging intelligent products like CSI’s check fraud detection solution to enhance our tellers’ vigilance without relying solely on manual reviews. CSI’s technology provides a customizable system that adapts to our customers and continually learns about their banking habits—helping us scale our fraud detection efforts effectively.”
With check fraud incidents rising dramatically, reports indicate a 90% increase in check fraud-related suspicious activity from 2021 to 2023, with cases persisting into 2024. CSI’s advanced fraud detection solution is designed to combat these threats by harnessing insights from Mitek’s extensive network of financial institutions. This collective intelligence enhances fraud detection accuracy and accelerates review processes. The system utilizes high-resolution image analysis across 24 scorable check attributes, allowing community banks to swiftly identify and halt potentially fraudulent transactions at the teller line.
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“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 system continuously evolves through consortium-based data sharing, offering adaptable fraud prevention strategies to predict emerging threats. Analysts can assess multiple check attributes against securely stored profiles in a cloud-hosted environment that employs end-to-end encryption and adheres to ISO 27001-certified security protocols, providing enhanced security for 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.”
With this latest advancement, CSI reaffirms its commitment to delivering innovative, technology-driven security solutions that empower financial institutions to stay one step ahead of fraudsters while safeguarding customer assets.