Biometric Wire Verification (Bio-Wire)
Stop wire fraud in real-time, eliminate call backs, increase operational efficiencies and improve the customer experience with Bio-Wire, another patent pending innovation from ACH Alert! Convenient and completely automated, Bio-Wire’s 100% out-of-band verification process defeats wire fraud like no other solution on the market today.
Talk about layered security, Bio-Wire goes above and beyond the effective controls cited in the FFIEC guidance requirements!
How it works: ACH Alert establishes a unique 800 number for the financial institution in our interactive voice response system. Financial institutions simply enroll their customer in Bio-Wire and provide the customer with an 800 number and the information necessary to establish their unique voice print in our biometric engine. Customers store the 800 number in their phone for future use.
As wire requests (online, fax or email) come into the financial institution, Bio-Wire systematically analyzes the wire content, applying the individual rule sets established for the customer by the FI. If a rule set is violated, the customer is alerted and called to action.
The customer dials the 800 number stored in their phone and the hosted interactive voice response system begins recording, prompts the customer to enter an authorization code and repeat a random phrase to authenticate the caller. Once authenticated, the customer can verify or reject suspect wire transactions instantly.
Systems integration is supported but not required!