Reverse Positive Pay (using Bank Reconciliation)

Are you a Credit Union, thrift or other financial institution that has been asked to provide 'Positive Pay' services to a customer, but do not currently have the IT infrastructure to do so?

Rather than investing in $10,000 (or more) of additional core banking software, provide the same anti-fraud service as your competitors with a client based positive pay system for $995.00

or

Are you a client of a bank that does not offer Positive Pay?

Reverse Positive Pay may be the best anti-fraud service for you.

Traditional Positive Pay vs. Reverse Positive Pay

How it works

As the client issues checks, they will import their check register into Reverse-Positive-Pay™ (a feature of our Bank Reconciliation module). As each check register is imported into Reverse-Positive-Pay™, the system is populating a history-to-date cumulative listing of all check activity.

In addition - on a daily basis - the bank will be sending a list of presented items to the client. The client will also import this presentment list into Reverse-Positive-Pay. The system will then perform a high speed Automated Transaction Matching (ATM) between the two sets of data and report back on any exceptions.

The client will then notify the Bank of any 'Bank' (presented) items which were not matched.

How does Reverse-Positive-Pay™ differ from the standard Bank Reconciliation product?

Reverse-Positive-Pay is a subset of the Bank Reconciliation product and does not include the following:

--Reconciliation Report

--Access to high speed matching rules, other than Check to Check and Void to Issue