Connect ► twitter| youtube|  Log In ► Members Only  |  Corporate One Safekeeping  |  Search

Value proposition

Since the passing of the Check 21 law in 2004, one of the leading industry solutions has been remote deposit capture (RDC), which captures digital images of items so they can be electronically processed for forward cash collection. Corporate One uses TranzCapture LLC, a credit union service organization, as the platform for all its item processing services. TranzCapture’s remote deposit capture and deposit item processing streamlines work through its web-based platform that offers consolidated administration and processing for all deposit channels (branch, business, mobile and ATM/intelligent teller machines).

Users access TranzCapture through Members Only, Corporate One’s online member portal, and conduct all deposit item work, including verifying items, viewing archives and running reports from one consolidated platform. Members can count on robust reporting, real-time duplicate item and batch detection and same-day access to images in a seven-year archive.

Branch CaptureDeposit Return ServicesImage Clear
Business CaptureAPI Solutions

 

Fraud Protection

Deposit fraud protection from Early Warning® Deposit Chek® Service

With decades of service in the industry, credit unions can rely on Deposit Chek to provide compliant, actionable intelligence to help fight fraud—reducing the risks, costs and negative member impact associated with fraudulent items being deposited. Take advantage of real-time and/or batch deposit fraud protection through Deposit Chek Service from Early Warning and realize substantial cost savings by quickly identifying fraudulent checks.

How does it work?

Deposited items are compared to financial institution-contributed data in the Early Warning National Shared Database resource to identify high-risk deposits and return items. Matches are reflected immediately (real-time service) or in reports the next business morning (batch service) to credit unions participating in Corporate One’s TranzCapture deposit capture services.

Real-time service option:

  • Enables immediate notification (at the time of deposit) on items that carry return risk, such as NSFs, stop payments, closed accounts and lost/stolen checks.
  • This notification can happen on all deposits from all sources, including ATMs, ITMs, mobile devices, and at the teller window or when opening a new account.
  • The real-time service also offers identity verification through Account Owner Authentication (AOA), which conducts identity-to-account matching, adding an extra layer of security around the transaction by ensuring the person is authorized to transact on the account.

Batch service option:

  • Provides advanced notification of high-risk deposits and return items to credit unions in the Return Notification Report at the beginning of the next business day.
  • The report identifies items that carry return risk, such as NSFs, stop payments, closed accounts and lost/stolen checks.

Both the real-time service and batch service options can be used in tandem for comprehensive security and peace of mind.

Features and Benefits

  • Risk management: Identifies high risk deposit and return items by comparing MICR lines from your credit union’s deposited items to Early Warning Services, LLC.’s National Shared Database Resource, and responds with critical decision-making information.
  • Warning code validation: Validation and explanation of approximately 60 high-risk, medium-risk and low-risk warning codes. Approximately 30 return reasons explain why items are being returned, such as insufficient funds, stop payments, missing endorsement, missing signature, counterfeit item.
  • Deposit channels: Enables one or all deposit channels through TranzCapture, Corporate One’s deposit item processing platform.
  • Administrator controls: Credit union-level control over: Individual dollar thresholds for each deposit channel and when to place member accounts on hold when a risk- notification is received.