PR Newswire
RiskScout, a modern compliance platform built for financial institutions, is proud to announce a major expansion in its fraud detection capabilities offering an integrated suite of tools that bring real-time alerts, image-based fraud analysis, and direct customer communication into a single, unified experience. Designed by BSA professionals and former bank examiners, RiskScout’s latest features enable community banks and credit unions to identify and stop fraud faster, without the burden of switching between tools or paying for every extra rule.
As part of this rollout, RiskScout has partnered with Mitek Systems, a global leader in digital identity verification, fraud prevention, and biometrics. The partnership brings Mitek’s advanced check fraud detection capabilities into the RiskScout platform, enabling automated analysis to identify forgeries, alterations, and counterfeits—all within a streamlined, end-to-end experience.
“This isn’t just fraud detection—it’s fraud prevention with real operational intelligence,” said Justin Fischer, CAMS, CEO & Co-Founder of RiskScout. “We’re making it easier for institutions to protect their customers and members without juggling multiple tools or incurring bloated fees. Our goal is simple: empower institutions to act fast, stay compliant, and reduce losses from fraud.”
“We’ve purpose-built our image analysis technology to help institutions detect nuanced fraud signals that legacy systems often miss,” said Michael Diamond, SVP and GM of Digital Banking at Mitek Systems. “RiskScout’s unified approach to compliance and fraud management makes it an ideal environment for this kind of embedded intelligence. Together we are equipping teams to act faster, reduce risk, and make better decisions all within the systems they already trust.”
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Key Highlights of RiskScout’s Fraud Capabilities:
- Integrated Check Fraud Detection: Thanks to our partnership with Mitek Systems, users can verify check images and flag suspicious alterations in real-time.
- Pre-Built Fraud Rules: Coverage includes ACH, wire, monetary instruments, elder abuse, and other common targets—right out of the box.
- Real-Time Alerting: With real-time data, we provide comprehensive real-time alerts. Stay on ahead of fraud instead of reacting to it.
- Secure Customer Communication: Reach customers or members instantly with encrypted messaging to investigate and respond rapidly—no need for calls or emails.
- Unified BSA/AML/Fraud Workflow: One platform, one login. RiskScout combines fraud and compliance workflows for a seamless back-office experience.
- All-Inclusive, with One Powerful Add-On: RiskScout’s fraud functionality comes standard with no hidden fees for additional features. Mitek System’s check fraud solution is fully integrated and available as a premium enhancement.
- Transaction Variance Alerts: Automatically detect anomalies in weekly transaction volume across all payment types and sources – no manual inputs required.
RiskScout is changing the way financial institutions handle fraud—from detection to resolution. Community banks and credit unions now have access to enterprise-grade tools without the enterprise headache.
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