[May 18, 2012] Fiserv launches new automated dual verification solution Tweet May 18, 2012 (Datamonitor via COMTEX) -- Fiserv, Inc, a provider of financial services technology solutions, has launched an enhanced version of PEP+ Dual Verification, an automated solution that ensures that proper controls to mitigate error and fraud in ACH processing are in place, and offers tracking tools to document these controls. PEP+ from Fiserv is a mainframe, real-time system that enables the origination and receipt of electronic payments through the automated clearing house (ACH). PEP+ Dual Verification enhances the security and risk management capability of the PEP+ application by providing dual verification protocols for specific online request codes, the company said. "Financial institutions are facing intense scrutiny to reduce the risk of error and fraud in the ACH payments channel," said Bert Harkins, senior vice president of sales, Global Payments Solutions, Fiserv. "Financial institutions must prove to the regulators that proper controls are in place. This changing security climate places mounting pressure on institutions to ensure that effective and robust controls, such as PEP+: Dual Verification, are in place and being utilized." PEP+ Dual Verification also offers systematic automated tracking, and provides a credible audit trail of the secondary review thereby reducing the gaps in risk mitigation associated with manual reviews while increasing operational efficiency. This added layer of security reduces the risk of errors and fraud for financial institutions and their customers, the company added. http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon [ Back To TMCnet.com's Homepage ]