Check Fraud Detection and Mitigation Product Assessment

Check fraud losses are projected to exceed $24 billion in 2024, posing a significant threat to the banking industry. This ABA Product Assessment explores how banks are tackling this growing challenge, highlighting key developments and profiling leading technology providers offering innovative check fraud prevention solutions. Learn how the banking industry is evolving to stay ahead of this escalating risk.

Vendor Profiles

Vendor	Product name	Description	Solution type
Abrigo	Abrigo Fraud Detection	AI-powered check fraud detection (currently inclearing, expanding to deposit)	Risk platform
Advanced Fraud Solutions	TrueChecks	Real-time deposit fraud detection via consortium that includes access to EWS	Consortium
ARGO	OASIS and SAND	Comprehensive check fraud detection (deposit and inclearing)	Point solution
DarkDefend, A ThreatAdvice Company	TAFraudSentry	AI-powered fraud detection with dark web monitoring	Point solution
DataVisor	DataVisor Check Fraud Solution	End-to-end AI- powered fraud detection	Risk platform
Featurespace	ARIC Risk Hub	Enterprise financial crime prevention platform with check fraud capabilities	Risk platform
FIS	DirectLink Risk Review	Integrated check fraud detection	Core banking processor
Fiserv	Multiple solutions, including ARGO OASIS, TrueChecks, EWS	Suite of check fraud detection solutions	Core banking processor
Infosys	Infosys Check Fraud Detection Solution	AI-powered check fraud detection	Point solution
Mitek	Check Fraud Defender	AI and computer vision-based fraud detection	Image analysis and forensics platform
Nasdaq Verafin	Check Fraud Detection and Mitigation	Consortium-based fraud detection	Risk platform
OrboGraph	OrboAnywhere suite includes Anywhere On-Us and Anywhere Deposit Fraud	Comprehensive check fraud detection (deposit and inclearing)	Image analysis and forensics platform
Q2	Q2 Centrix Exact/TMS (TMS)	Check and ACH positive pay solution	Point solution
Unit21	Unit21 for Check Fraud	AI-driven flexible fraud detection platform	Risk platform

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About ABA Product Assessments

Banks face increased pressure to satisfy changing market and customer needs. To improve your competitive position and continue to serve your communities, adopting technology products and services is critical. ABA Product Assessments support members in solving operational challenges and preparing for the future.

The assessments will focus on vendors, products and services in critical market segments for the banking industry. For each market segment, ABA, with the support of a banker-led advisory board and an independent consultant, will research and evaluate a selection of available products and develop resources to guide member banks’ vendor and product decisions. ABA does not receive any remuneration from providers for inclusion in these assessments and is publishing them solely for the benefit of member banks. The assessments are included as an ABA membership benefit.

Find answers to commonly asked questions about ABA Product Assessments.