SQN Banking Systems Enters into Seventh Consecutive Year in Partnership with Bull Ltda.
Rancocas, N.J., Jan. 13, 2010 - Rancocas, N.J.-based SQN Banking Systems , a leading provider of integrated fraud detection and process improvement products for the financial industry, announces its seventh consecutive year in partnership with Bull - Latin America, an information technology company that helps corporations and public sector bodies develop open and secure information systems.
The success of this partnership supports the joint implementation of SQN's SENTRY: SigCheck TM automated signature comparison system, allowing both institutions to provide a modern and powerful solution for the international banking community
"With the rising number of check images being processed in Brazil and the rapidly changing fraud environment, innovative fraud prevention solutions are mission critical," said Eraldo Silveira, executive director for the Financial Vertical at Bull. "For seven years our partnership with SQN has allowed us to offer the most relevant and powerful automated signature verification solution. Bull customers process hundreds of millions of negotiable items on the SigCheck platform each year, and as our clients have grown, SQN has responded by providing the most up-to-date technology available."
The SigCheck solution reviews on-us checks for signature fraud using sophisticated pattern recognition technology. It can be fully integrated into teller and account opening platform s. The technology compares daily signature images and MICR data from on-us checks with existing digital signature database, and flags items that fall out of bank set parameters as possible forgeries. A "confidence score" is assigned to each signature and, based on rules set by the bank, suspicious checks are then sent for review by bank personnel for a payment decision.
Joe Uhland, president of SQN Banking Systems said, "Whether domestically or abroad, automated signature comparison is a powerful tool to deter check fraud. SQN proudly partners with Bull to deliver our SENTRY SigCheck solution to its notable list of financial institution customers. Our primary goal is to equip our banking partners with the most robust check fraud detection systems available."
About Bull
Bull is an information technology company, dedicated to helping corporations and public sector bodies develop open and secure information systems to sustain their business strategies. The premier European-based global IT supplier, Bull has a worldwide presence in more than 100 countries, and is particularly active in the defense, finance, healthcare, manufacturing, and public and telecommunications sectors. In Brazil, Bull has a strong presence in the Banking Industry, being recognized by its expertise as one of the main providers of smart solutions for banking operations. For more information, visit: www.bull.com .
About SQN Banking Systems
For more than 25 years, SQN Banking Systems has provided integrated fraud detection and process improvement products for the financial industry, meeting the needs of financial institutions of all sizes. The SENTRY suite of products includes software for exception item processing, image fraud analysis, automated signature comparison, verification and display, transaction analysis and safe deposit operations management. More than 500 SQN customers have improved their earnings and reduced check fraud losses by as much as 84 percent with SENTRY. For more information, visit SQN's Web site at www.sqnbankingsystems.com .
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