Financial Services

SECURE WIRE TRANSFERS


As the problem of ID Theft continues to grow, many financial institutions have been hit with fraud during telephone-based wire transfers, and have incurred significant losses. Current methods of verification, such as faxed signatures, callbacks and challenge questions, are inefficient and not secure. With enhanced reporting and auditing requirements, as mandated by the Patriot Act and other legislation, enhanced verification and auditing capabilities for wire transfers are now critical.

To help fight fraud and improve efficiency in telephone-based wire transfers, Spike Server positively verifies the account holder’s identity with voice verification before the wire transfer is authorized.

Wire transfer security

RESULTS

  • The bank reduces or eliminates the need for challenge questions, faxbacks and callbacks.
  • Customers enjoy added convenience and security.
  • The transferring bank benefits by reducing its fraud exposure.