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Focus on Fraud - Softpro's User Group Meeting sets milestones in Check Fraud Prevention and Detection

10-12-2007 05:48 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: SOFTPRO

Alain Sarraf, Head of Product Management and Marketing - Host of SOFTPRO's User Group Meeting

Alain Sarraf, Head of Product Management and Marketing - Host of SOFTPRO's User Group Meeting

Record attendance at SOFTPRO's 3rd annual User Group meeting by the world's leading financial institutions confirms the event as a de-facto industry platform for combatting fraud in the banking sector. For the third time in a row, Softpro hosted its user group meeting in Las Vegas, Nevada. Industry leaders and innovators from the United States, Trinidad and Tobago and Jamaica gathered to exchange information and ideas about the latest trends in fraud and prevention technologies, as well as discussing the business aspects of check processing and paperless documents. At the 2007 event, Softpro was proud to welcome in participants from Bank of America, JP Morgan Chase, Citigroup, Key Bank, Metavante, National Commercial Bank of Jamaica, Republic Bank of Trinidad, Synovus and Wachovia as well as Softpro's partner in the Carribean - MBM(Ansa McAl).

"All the facts - without any marketing nonsense, concentration on what really matters and how to resolve issues facing this industry" that was the motto for all sessions, presentations and discussion of this unique expert platform that Softpro is offering its clients and prospects. The discussions with the Softpro user group are the source for some of the most impressive innovations that the banking industry has seen in the last years. Customers attending the event confirmed that they see this platform as the unnofficial industry forum where the real issues get discussed and real solutions are driven.

Alain Sarraf, Head of Product Management and Marketing: "It is our aim to give our customers access to expert knowledge in order to enhance their daily business and to build long-lasting, sustainable partnerships based on maximum customer commitment from everyone at Softpro. This is would clearly be a challenge if we were to concentrate on only being a leading-edge technology provider. The open and frank communication with our customers allows us to take our products and services a step further and enhance our product suite to mathc real industry fraud trends." Softpro is committed to providing solutions that completely meets their customer needs by providing a holistic approach to fraud prevention for the financial industry that has become a de-facto industry standard. In 2007, the successful meeting format was further enhanced to focus on fraud trends that were identified during the 2006 period. This led to very active debate and the creation of solution scenarios that will benefit the banking industries
in the short, mid and long term.

In addition to the open dialogue between the check fraud prevention specialists and their customers, the event provided the opportunity to share ideas, listen, and learn from other user's experiences. The form of the meeting was primarily an on-going workshop that generated lots of new ideas on how to make a fraudster's life as difficult as possible and supply banks' with technology that is cost effective and reduces their losses. The Softpro's active user group meeting participants are typically the first ones to reap the benefits of innovative anti-fraud technology and indeed to participate in its inception.

In addition, SOFTPRO presented new solutions based on the 2006 user group input demonstrating their commitment to listening to their customers. SOFTPRO's upcoming new product releases are based primarily on the valuable input provided by the user group. The event provided the participating attendees an exclusive view "behind the bits and bytes". A primary topic was the automation of the front office with added security and fraud protection while capturing, storing and verifying handwritten signatures.

Softpro also presented its new revolutionary Day 1 instant verification product which gives banks an instant indication as to the risk of a payment item.

Joerg-M. Lenz
Manager PR
Wilhelmstrasse 34
71034 Boeblingen
Phone: +49 7031 6606 0
Fax: +49 7031 6606 66

The SOFTPRO Group is the worldwide leading vendor of systems for capture and verification of handwritten signatures. The company is based in Boeblingen, Germany with local subsidiaries in North America (Wilmington, Delaware), the United Kingdom, and Asia-Pacific (Singapore).

The group currently employs an international staff of over 60 people, enabling more than 200 companies worldwide to streamline their document and transaction workflows.

With its Biometric product line, SOFTPRO provides solutions for securing the authenticity and integrity of documents within electronic processes, such as those required for legal contracts. For this purpose, a unique signature technology is used to extract and evaluate both the static and dynamic (biometric) characteristics of handwritten signatures.

SOFTPRO’s "Fraud Prevention Solutions" portfolio provides a holistic approach to detecting and preventing fraud in paper-based processes (such as payment transactions), as well as increasing operational efficiency using signature management and verification solutions.

Among SOFTPRO’s customers are American Express, Bank of America, Barclays, Citigroup, Discover Financial, Ingolstadt Hospital, JPMorgan Chase, Lloyds TSB, SEB, Standard Bank of South Africa, TeleCash (First Data) and Wachovia.

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