Check Fraud Detection - Sereno

Sereno is Orbograph’s check fraud detection solution for financial institutions and service bureaus. Sereno integrates image-based detection with transactional history to provide the lowest false positives rates (targeting 0.2 - 0.5%, site dependent) and the most accurate fraud detection in the industry for identifying counterfeits, forgeries and alterations of checks.

Sereno operates 35 image analysis and recognition technologies merged with parameter driven application logic to optimize performance and benefit to the financial institution. When transaction data is available, all results are merged together using Multi-Source Correlation Modeling™. Key system technologies include:

• Image analyzers: check stock validation, automated signature verification, amount recognition, CAR style comparison, payee matching, automated layout recognition, MICR OCR recognition, PAD detection, IRD recognition, and serial number matching
• Account level driven, customer profile database which allows for automated building of profiles from check images ingested from existing data sources
• Orbograph IQUA to filter out image defects from the fraud workflow

Sereno runs in-line, stand alone, or as a hosted service. Our flexible file import option called Silent Agent, imports X9.37 or Orbograph TIFF images post recognition processing. A direct application programming interface (API) interface is also available. Either interface can help support one of the following workflows:

• Day 2: Centralized processing
• Day 1: Same day fraud detection in POD processing or inter-bank image exchange, Red Flags
• Day 0: Real-time teller fraud prevention

Sereno is built on G6 Enterprise Recognition Technology, a Services Oriented Architecture (SOA) platform. By using G6, Sereno is accessible across the enterprise of check processing and becomes a callable service for any application.

In addition to fraud prevention, Sereno can assist in the area of compliance and/or security. The 2009 ABA Deposit Fraud Survey indicates that identify theft is one of the leading contributors of check fraud. Additionally, Red Flag rules, mandatory in 2010, can incorporate Sereno.

Orbograph Press Release Quote:

Chip Kohlweiler, Fraud Countermeasure Manager for SunTrust stated, “We had a focused objective; find fraud our legacy systems was not detecting without adding additional personnel. We were able to accomplish this objective and continue to see improvements in the system. The complementing aspects of Sereno to our transaction fraud system are very effective, providing another layer of protection for our retail and business customers.”