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ACH Alert Reports Record Growth, Stops More Than $388 Million in Fraudulent Transactions

Electronic payments fraud prevention specialist ACH Alert has doubled its staff in response to record growth, the Tennessee-based fintech announced this week. The company partnered with more financial institutions in the past 12 months than in the last four years combined, it reported. Over the same time, ACH Alert has prevented more than $388 million in fraudulent transactions.

“Our extensive product suite, including our enterprise level check positive pay service with full back-end reconcilement and payee positive pay, have helped financial institutions prevent millions of dollars in fraudulent transactions, resulting in ACH Alert’s explosive growth and increased demand for our services,” company CEO Deborah Peace said. “As we continue to grow, we plan to use this momentum to protect a greater number of financial institutions and their account holders from payments fraud, as well as the frustration and financial loss associated with it.”

ACH Alert CEO Deborah Peace demonstrating Fraud Prevention HQ at FinovateSpring 2017.

ACH Alert demonstrated its Fraud Prevention HQ at FinovateSpring 2017. The company, which monitored more than $817 billion in transactions over the past year, partners with financial institutions to provide automated fraud detection and prevention services. ACH Alert’s technology protects a variety of payment types against fraud including incoming and outgoing ACH, wire transfers, and checks. The company’s solutions enable banks and credit unions to send actionable alerts to account holders when suspicious activity is detected, giving account holders the opportunity to stop the transaction before it occurs. This combination of automated fraud prevention and “shifting control to the account holder” is a key differentiator in ACH Alert’s ability to help FIs and their customers combat fraud.

Headquartered in Ooltewah, Tennessee and founded in 2007, ACH Alert won the 2016 BankNews Innovative Solutions Award for its Fraud Prevention HQ solution. Earlier this year, the company introduced new anti-fraud solutions for real-time payments and ACH credits. Trustmark National Bank, Venture Bank, and Hancock Whitney Bank are among ACH Alert’s customers. Read our profile of the company from last fall featuring a Q&A with CEO Peace.