SQN Banking Systems Enhances Offering Through New Agreement With Fortress Risk Management, LLC
Combined Technologies Create Comprehensive, Effective and Affordable ERM Solution
RANCOCAS, N.J., March 4, 2013 /PRNewswire/ — SQN Banking Systems (sqnbankingsystems.com), a leading provider of integrated fraud detection and process improvement products for the financial industry, announced today an agreement to incorporate Fortress Risk Management’s Enterprise Risk Management (ERM) technology into its suite of SENTRY fraud detection solutions. The move enriches SQN’s existing fraud and risk management offering, expands the real-time transaction capabilities of its SENTRY line, and strengthens the compliance monitoring available to financial institutions.
“Fraudsters are constantly changing how they attack financial institutions, which means we must continuously strengthen the solutions that our customers rely on,” said Joe Uhland, President of SQN Banking Systems. “The powerful ERM modules offered by Fortress blend seamlessly with our SENTRY software, and give our customers another layer of protection against the ever-evolving threats they face.”
Fortress Risk Management’s ERM solution evaluates risk and monitors for potentially fraudulent activity at both the member/customer level and at the institutional level through seven modules that can work independently or in concert, depending on the needs of the institution.
“Fraud attempts continue to increase at alarming rates. Incidents of successful ACH and wire fraud are just one example of how fraudsters evolve and how they target institutions, so there is clearly a need for the kind of real-time, 24/7 monitoring that we provide,” said Kathleen Waid, President of Fortress Risk Management. “We’re proud that a leader in fraud detection like SQN is enhancing its offering with our technology. When you combine what Fortress does with what SQN does, financial institutions of all sizes will truly be able to monitor and review risk at the enterprise level.”
About Fortress Risk Management, LLC
Fortress Risk Management, LLC provides Enterprise Risk Management solutions to community banks and credit unions. The real-time solution provides true cross-channel transaction monitoring, analyzing behavior through an institution’s Core and Ancillary products. Our ERM solution is comprised of seven different customer and institution monitoring modules, which permits organizations to determine their path to a single ERM platform to prevent fraud and reduce risk.
About SQN Banking Systems
For 30 years, SQN Banking Systems has provided superior fraud detection products to the financial industry. We now offer cloud-based applications that can be deployed at your financial institution without hardware or software. The SENTRY suite includes real-time fraud analysis, exception item processing, image fraud detection, transaction analysis, automated and visual signature verification, official check verification, and safe deposit management. For more information, visit us at sqnbankingsystems.com.
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SOURCE SQN Banking Systems