First Data enhances ACH fraud protection via Laru agreement

First Data signed a referral agreement with Laru Crop to provide its FundsXpress business online banking customers with enhanced automated clearing house (ACH) fraud prevention solution helping thus more easily comply with new industry requirements.

Laru creates ACH risk management, compliance and fraud detection and prevention applications for financial institutions. With the long-term, renewable agreement First Data takes to a higher level its business online banking risk management capabilities, making another layer of protection available through Laru's ACH Clarity product.

The ACH Clarity product automates ACH risk management, detects out-of-pattern anomalies, alerts financial institutions to possible problems, and guides operators through research and resolution steps. Convenient case management tools monitor open and closed cases, and flexible parameter-driven reporting tools streamline audit and regulatory compliance reporting.