Early Warning Services Brian Dearle âWells Fargo Bank

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Credit Account Payments •Online, telephone, VRU •Customer provides RTN and account from paying FI, ODFI has no way of directly verifying ownership •“Unauthorized”returns often take 24 weeks or more beyond normal hold periods •Adequate holds can make for bad customer experience. Low $ limit = low risk but low customer satisfaction •High $ limit means loss exposure can be very high 4
Magnitude of the Problem Subset –Online/TEL Credit Card Payments SOURCES: Primary Research Secondary Research* Primary } 12 <strong>Bank</strong> Card Issuers } 43% of bank cards } Two Key Industry Associations } Two Bill Payment Providers Secondary NACHA, Nilsen. Tower Group, AITA Group, Federal Reserve, Celent, Glenbrooke Partners, OCC, Two Sparrows Consulting, IBM, Cybersource, Mastercard $800M confirmed, but likely to be higher Primary Research Loss Spectrum $800M $2B $1.7 –$2.1 B in losses Secondary Research 5
Page 1 and 2: Preventing Fraud with Identity to A
Page 3: ACH “Unauthorized”Returns The H
Page 7 and 8: Opportunity Outweighs Problem Onlin
Page 9 and 10: 1. Voided Original Check •OldFa
Page 11 and 12: 3. Restrict the Transaction •Rest
Page 13 and 14: 5. Trial Deposit •Trial Deposit
Page 15: 15 Discussion

Early Warning Services Brian Dearle âWells Fargo Bank

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Early Warning Services Brian Dearle âWells Fargo Bank