Positive Pay has been recognized as possibly the best defense available against check fraud. CheckDefense - SP is a plug-and-play Positive Pay solution that directly integrates with Bottomline check printing environments to ensure check fraud prevention.
Using CheckDefense - SP, a Positive Pay report is automatically generated whenever a check run is printed. The transmitted reports provide the bank with important information such as check numbers, dates, amounts and account numbers in the format required by the bank. The bank uses this report for verification when paying checks. If the information of the check does not match the Positive Pay report, the check is not paid until the bank can get approval or denial from the company. This effortless system allows companies to prevent check fraud and save on losses incurred by fraudulent checks.
CheckDefense - SP features include:
- Accommodation of back issue file conversion for outstanding checks from accounting application data
- Manual entry and editing of check data
- Secure, manual or automated (schedule time/date) file transmission
- Reporting capabilities
- Built-in Positive Pay file back-up
- Automatic extraction of voided checks
- Built-in security log records all events and actions that have occurred in CheckDefense