Chexar Networks Inc. today announced it is launching a new service that will allow industry partners such as banks, check cashers, mobile wallet and prepaid providers, to better control the risks of either cashing a check, or accepting a check for deposit, that has already been accepted by another provider.
According to a press release, Dupex will give industry participants an advance warning of activity on a check prior to their making the decision to accept a check, including information about inquiries on the check prior to the first deposit.
"Dupex is designed for those other clients that run their own risk management solutions and gives them an advanced warning of prior activity on a check before they make their decisions," said Drew W. Edwards, Chexar founder and CEO.
Chexar is now enrolling its current channel partners and plans to open enrollment to the market in January 2012. Endpoints would include brick and mortar check cashers, bank teller lines, ATMs and mobile banking applications. Clients will access the solution through a variety of interfaces including a Web-based portal and full integrations with mobile application providers, banking platforms and industry point of sale solutions.
For more information on this topic, visit our Check 21/deposits research center.
