Kentucky-based Citizens Union Bank has selected fraud prevention technology provider ACH Alert to provide customers with automated wire fraud protection.
The technology vendor said that its Bio-Wire solution will allow real-time elimination of wire fraud, which is often carried out through business email compromise scams.
The Bio-Wire solution analyses wire transfers and sends alerts to customers if a rule breach is detected. Customers can respond through a phone call to an automated system and are authenticated using voice biometrics. ACH says that this eliminates call backs and reduces wire fraud risk.
Citizens Union Bank treasury services manager Kim Dodson said: “Bio-Wire addressed our concerns about wire fraud and encourages our customers to be involved in protecting their account from cybercriminals.
“The service has also improved the customer experience, as account holders no longer have to call each time they send a wire transfer, so this saves our customers time while offering them a higher level of security.”