News

Early Warning, NCR partner on bank-to-bank good funds network

The project will allow consumers to enjoy safe, secure, and fast transactions across every touch point for their banking or purchases, NCR says.

April 23, 2015

Early Warning, a fraud prevention and risk management company, will use the Authentic software solution from NCR Corp. to build a bank-to-bank good funds network to support faster availability of funds.

Authentic enables payment authorization and transaction routing; the software will be integrated with the Early Warning Deposit Chek service, an NCR press release said.

The resulting Early Warning good funds network will facilitate communication among financial institutions, giving participating FIs a real-time guarantee for check and ACH transactions in credit push and debit models.

For the end customer, this means faster availability of funds on deposited items, as well as instant notification of items presented for deposit — all based on real-time activity.

"The combination of our tools, the resources provided by the paying bank and NCR's capabilities produce a dynamic decisioning capability that mirrors the sophistication that a paying bank would rely on if the item was presented at its own institution," said Lou Anne Alexander, chief market development officer of payment solutions at Early Warning. "Integrating the good funds network into our Deposit Chek Service is our response to the desired outcomes of leading financial institutions and regulatory guidance for fast, secure transactions."

"By combining our Authentic software with Early Warning's Deposit Chek Service, we will deliver innovative services to the banking and payments industry," said Steve Nogalo, vice president and general manager of payments solutions at NCR. "Together, we will drive value for our financial services customers and enable consumers to enjoy safe, secure, and fast transactions across every touch point for their banking or purchases."