Posts Tagged ‘ Check

Teletrack Launches RevealCheck, a Data-Centric Solution That Improves Check Risk Evaluation and Fraud Detection



Norcross, Ga. (Vocus) October 22, 2009

Teletrack, an industry-leading provider of risk management solutions, today introduced RevealCheck , a tool for check cashers that provides quick, easy and affordable access to check cashing history and identity risk information.

The check cashing industry has been experiencing increased fraudulent and bad check activity due to economic conditions and limited access to cost-effective, relevant data sources and tools. After much research, Teletrack developed a solution to help check cashers make better decisions to cash checks without eroding profits.

“The requirements of check cashing companies are changing rapidly because of evolving banking relationships and current economic conditions,” said Dale Williams, president of Teletrack. “RevealCheck provides a single point of access to check cashing history, bank validation and phone look-up to verify presenter and maker status. This important information helps businesses cash all types of checks, not just payroll or government issued checks.”

For less than a dollar per transaction, RevealCheck provides automated bank validation , maker and presenter phone look-up, as well as industry-specific check cashing history for both the maker and the presenter. The service offers Social Security number validation and other fraud identification tools to assist check cashers with presenter identity verification.

An Office of Foreign Assets Control (OFAC) Activity Report is also included, making it easy to comply with OFAC regulations. Plus, Teletrack leverages its vast source of demographic records to provide even more in-depth information to assess risk.

Using RevealCheck is simple and requires minimal training time. After the check casher scans a check and keys in the maker, presenter and check information provided at the point-of-sale (POS), an easy-to-read RevealCheck report appears on screen within seconds. The report highlights key information at a glance, calling attention to items that may require further review before a check is cashed.

Check cashers can easily determine the level of risk associated with the bank account represented on the check; identify possible issues as to the maker’s previous check cashing activity; verify that the phone numbers given are accurate and detect differences between the presenter information submitted and the information already in the RevealCheck database for identify verification.

“Check cashing employees no longer need to make confirming phone calls or check several sources for identity verification, bank validation or phone confirmation,” said Williams. “This helps improve service quality and time, leading to satisfied, repeat customers while helping to reduce losses, increase revenue and evaluate risk.”

The information provided in the RevealCheck report also helps check cashers deploy more systematic and data driven fraud prevention and risk evaluation strategies to complement the skills of their employees, thereby greatly reducing check fraud due to errors when following longer manual processes and procedures.

Teletrack is currently working with early adopters to develop the RevealCheck database and test the product. They are also helping early adopters integrate RevealCheck into their current POS system through an Extensible Markup Language (XML) interface, revise company policies/procedures and train employees.

Those interested in learning more about RevealCheck are encouraged to visit www.RevealCheck.com and call Teletrack at 1-800-729-6981 to schedule a product demonstration.

About Teletrack, Inc.

Founded in 1989, Teletrack, a wholly-owned subsidiary of First Advantage Corporation (NASDAQ: FADV), provides lenders and businesses with the actionable intelligence they need to make smart decisions. Businesses across the country access Teletrack’s consumer data for risk mitigation, identity verification, fraud detection and skip tracing. When businesses use Teletrack, they gain the right information at the right time to help them make the right decisions for the right reasons. Teletrack’s databases access information from a variety of sources and contain unique, non-traditional consumer information that is not available from other sources. As a FCRA compliant consumer reporting agency, Teletrack gathers records from businesses across the country that cater to non-traditional credit consumers. For additional information, please visit the company’s Web site at www.teletrack.com.

First Advantage Corporation provides innovative products and services that mitigate risk by helping businesses, non-profit organizations and government agencies make more informed decisions. Headquartered in Poway, Calif., the company has employees in 13 countries that support over 90,000 clients globally. More information about First Advantage is available at www.FADV.com.

Contact:

Katie Bryson

Marketing Director

Teletrack, Inc.

678.229.5206

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Related Skip Tracing Press Releases

Business Owners Can Now Put the Squeeze on Bad Check Writers with Latest Bill Collector In A Box Software Upgrade



Indian Wells, Calif. (Vocus) October 25, 2007

Bill Collector In A Box, the only PC software that puts expert bill collection strategies and techniques at the fingertips of businesses and entrepreneurs, now includes the ability for businesses of all sizes to report a writer of bad checks to the same central bureau used by major retailers, giving that person a major incentive to settle past-due invoices. The SCAN (Shared Check Authorization Network) report feature built into the latest version of Bill Collector In A Box means that a business owner can exert significant control over a customer that has written an NSF check (non-sufficient funds) or other type of returned check, and is unwilling to pay the amount owed plus bank fees. This is one of the many collection features included with the software.

SCAN is used by banking institutions and thousands of major retailers, including Home Depot, Nordstrom, Sears, Target and Wal-Mart, to screen out writers of bad checks. When a person who has been reported to SCAN presents a check or tries to open a bank account at over 71,000 locations, he or she is handed a denial card and asked to contact SCAN. SCAN then directs the customer to the merchant that reported the bad check, who can collect the payment and, with one click in the new Bill Collector In A Box software package, remove the customer from the SCAN database.

Bill Collector In A Box centralizes the management of past-due accounts, from initial contact to resolution of the outstanding invoice. The latest version, now available at Fry’s Electronics, Office Depot, and Micro Center, includes other new features to make the task of tracking past-due invoices and collections less time-consuming and more effective:

    Automatic printing of professional-quality legal letters that provide a debtor with warning about impending legal action. The software also includes a wide variety of debt-collection letters that comply with state and federal laws.
    Court information recording that provides an easy way to store details of litigation or small-claims actions.

Other features built into the software enable business owners to easily perform and manage all of the typical phases of debt collection:

    Credit bureau reporting. Reporting a bad debt to a credit bureau is an effective way to convince debtors that they need to quickly settle their invoices. With one click, Bill Collector In A Box reports a bad debt to the major credit bureaus for up to 7 years.
    Skip Tracing. If a debtor has left town with no forwarding address and has disconnected phones, one click instructs Bill Collector In A Box to engage a professional investigator who will track down the debtor. 25 basic skip traces and 1 advanced skip trace are included with the software.
    Processing of credit card and ACH transactions (through PPI Inc.) to enable fast settlement of invoices.
    Comprehensive report generation as well as importing and exporting of .CSV files to/from popular accounting software programs.

Bill Collector In A Box runs on Windows PCs and complements popular accounting and personal-finance software such as Quicken®, QuickBooks®, Microsoft® Money and Microsoft® Accounting Professional.

“Small business owners frequently deal with chronic late payment and bad debt issues, and this costs their business time and money,” said Ryon Gambill, president and CEO of Marauder Corp. and a collections professional. “We designed Bill Collector In A Box so that small-business owners can take the right steps to resolve past-due accounts, and turn debts into revenue.”

Bill Collector In A Box lists for and is available at Amazon.com, Fry’s Electronics, J&R Electronics, Micro Center, OfficeDepot.com, PCnation.com, and Shopblt.com. Unlimited technical support, including an initial familiarization walk-through of the software, is included.

Note to editors

Contact Tim Cox (tim @ zingpr.com) for review copies, box photos/images and screen shots.

About Marauder

Marauder Corporation designed and developed Bill Collector In A Box for small to medium-sized businesses. Marauder is one of the nation’s leading collections agencies and specializes in small and medium-sized businesses. Its management team has more than 50 years of combined experience and services the collection needs of thousands and companies, coast to coast. For more information, visit www.billcollectorinabox.com or call 1-800-650-5118.

Media contact: Tim Cox, Zing Public Relations, +1650-369-7784, tim @ zingpr.com

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