FraudScreener

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TCI's Fraudscreener is a browser-based software solution that helps commercial banks screen business loan applicants for potential fraud and assists in searching for undisclosed information, such as, including criminal history, prior loan defaults, and dishonest statements.

INDUSTRY LEADERS BELIEVE THAT...

• Fraud, not credit quality or interest rate risk, is the industry's biggest threat today.
• Nine of 10 community banks do nothing beyond obtaining an audited financial statement and a Dun & Bradstreet report.
• Fraud rose between 1999 and 2001 at banks with less than $5 billion of assets, because criminals were aware that bigger banks had more sophisticated fraud-detection systems. Analysts say few community banks thoroughly review commercial customers' backgrounds before giving them seven-figure loan deals.

Fraudscreener benefits

• Fraudscreener performs comprehensive background checks by automating the search of multiple databases, including commercial and consumer credit reports, criminal databases, public records, and a variety of other investigative services.
• Based upon the bank's pre-set fraud screening parameters, Fraudscreener's "score card" analyzes the data and highlights suspicious application details.
• With Fraudscreener, banks achieve a high return on investment by reducing costly loan write-offs and through automation of the investigators' workflow processes.
• As an ASP, Fraudscreener is a cost-effective solution that helps banks protect the integrity of their lending operations, and meet the demands of new regulations.

WHAT CAN FRAUDSCREENER DO FOR YOUR BUSINESS?
Financial institutions can avoid costly loan write-offs when a thorough background investigation is conducted at the start of the loan review process. Bankruptcies, defaulted loans, and aliases are flags that require further investigation. Fraudscreener collects information from multiple databases and uses a score card to process this data according to the bank's screening criteria. The score aids risk managers by highlighting areas that require further review. Fraudscreener saves time by automating the manually intense process of re-keying each query into credit files or other public record databases, and examining each report for exceptions.

HOW DOES FRAUDSCREENER WORK?
Utilizing a browser, commercial loan applications from all loan officers are funneled into a queue at Fraudscreener for review by your investigations department. An application is checked for completeness before processing. All of the major consumer and commercial credit bureaus are automatically accessed, as well as pre-selected databases such as public records, and criminal records. All credit reports are processed automatically through a score card, which highlights any deviations from pre-set standards. Exceptions are flagged for further investigation. Applications are sorted according to their status: Incoming (waiting for review), Work (assigned to an investigator) and Exception (deviations from score card model). After review, all processed applications are sent to the loan officer's mailbox.

BENEFITS

Efficiency

Accelerates the loan approval process by rapidly retrieving credit bureau and public record information. Improves workflow through automation. Enables faster delivery of service to commercial loan applicants.

Return on investment

Reduces costly loan write-offs. Improves productivity. Eliminates repeated re-keying of information to access multiple databases.

Flexibility

Ability to customize screening parameters or use our pre-set model. Integrates directly into the bank's core processing system.

Quality control & compliance

Provides a storage solution that captures the complete work product - application, credit report, and investigator comments - for consistent reviews and audits. Assists in compliance with privacy requirements and monitoring regulations under the USA Patriot Act and Bank Secrecy Act, and other government mandates.

SECURITY

TCI has partnered with Verizon Business service, which is a tier-one, world class web-hosting provider. Customers receive a 98% SLA (Service Level Agreement), which assures that the website is always up and running. Security is provided through a multi-level framework, including password protection, firewall protection, and intrusion detection. Bureau subscriber codes are stored on the server in an encrypted format and are only accessible to authorized users.

See how Fraudscreener simplifies detection of potential fraud and undisclosed information, including criminal history, prior loan defaults, and dishonest statements. Experience Fraudscreener for yourself and contact TCI for a free demo. Email us or call us at (800) 841-9950.