Posts Tagged ‘ Detection

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

GTESS to Provide New Strategic Outsourcing Services to Healthcare Industry, Duplicate Claims Detection added to existing business process outsourcing services

Richardson, TX (PRWEB) June 14, 2004

GTESS Corporation, a leading provider of business process outsourcing services for the healthcare industry, today announced the addition of Duplicate Claims Detection to its front-end claim-processing service suite.

GTESS offers strategic outsourcing services to managed care organizations and benefit administrators. The company’s claims management services enable the healthcare industry to gain quality and service improvements while focusing on strategic initiatives and positively impacting their bottom line.

Duplicate Claims Detection, available to GTESS clients in the fall of 2004, will offer healthcare payers the ability – in the pre-adjudication process – to identify duplicate claims before payment. GTESS is the first outsourcing provider to offer such a program.

“GTESS clients will be among the first to move this process up front — before claims are paid — offering considerable savings in both the total cost of claim payments and improving the service to members and providers,” said John McGahey, VP of Sales & Account Management for GTESS.

Historically, payers used duplicate claim detection software applications post-adjudication. This is after costly duplicate payments have already been made. Duplicate Claims Detection will allow GTESS to offer higher quality and faster turnaround for claims management.

“Our Duplicate Claims Detection is significantly more comprehensive than that available in other claims systems,” noted McGahey. “Clients reported duplicate claim detection as one of their top priorities at our 2003 Partners’ Forum, so this service suite expansion is in response to their requests.”

Duplicate claims processing costs are estimated at – per claim, and apply to 7-10% of total claim volume. Even more costly to the healthcare industry is the labor connected with the manual review of up to 25% of all claims received.

“Duplicate claims are a costly administrative problem in the healthcare industry,” observed President and CEO of GTESS, Deborah M. Gage.

“Identifying and managing these duplicates will allow our clients to reduce costs and improve the quality of service they offer to employers, members and providers.”

VP of Research & Development, Vincent Borodziewicz, Ph.D. remarked that Duplicate Claims Detection allows GTESS to offer the best strategic outsourcing services to its clients.

“We have leveraged our deep healthcare expertise and statistical modeling capabilities to define the optimum logic for identifying duplicate claims, as well as predictive methods for determining the duplicate claims detection percentage based on the manual resources clients currently spend reviewing potential duplicate claims.”

The claims management services at GTESS replace error-prone human processes with automation. The GTESS Virtual Front End Suite of services includes outsourcing claim receipts (paper and EDI claims), claim edits and verification, membership and provider validation, re-pricing facilitation, claim routing and tracking, document management, and ‘clean-claim’ EDI delivery.

About GTESS:

GTESS provides business process outsourcing services to managed care organizations and benefit administrators. The company leverages proprietary technology to provide pre-adjudication claims processing, replacing error-prone human processes with automation. The GTESS Virtual Front End suite of services includes outsourcing claim receipt (paper and EDI claims), duplicate claim detection, claim edits and verification, membership and provider validation, PPO Connect™ enhanced repricing facilitation, claim routing and tracking, document management, and ‘clean-claim’ EDI delivery. GTESS has a growing list of more than 20 trading partners, including most regional and national PPO and network providers. Click on business process outsourcing services from GTESS, for more information.

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