CashEdge

Risk Management FAQ

Market Drivers

1. Is there a pressing need for banks to implement a risk monitoring service?
   Yes; As cited by the Federal Trade Commission, “An identity is stolen every 4 seconds and imposes $50 billion in unnecessary costs on the nation’s businesses every year.” To protect client information and reduce loss related to fraud, risk monitoring services are crucial for banks and financial institutions.
2. Do consumers feel that banks are responsible for preventing fraud?
   Yes; In fact, “74 percent of consumers hold their banks responsible for preventing fraud, and 50 percent will change banks if they offered stronger risk management and protection,” according to Unisys (2006).

About Risk Monitoring Service

1. What risk management capabilities come standard with CashEdge services?
   All of CashEdge’s services are supported by industry-leading risk management capabilities that leverage proprietary technology and the insights gathered from managing risk for the world’s largest financial institutions, helping institutions mitigate risk and decrease fraud exposure. CashEdge has systemic capabilities for managing risk, including customizable limits, qualification rules, and automation handling of ACH returns. These technology tools enable banks to create system boundaries that contain potential fraud.
2. Why do I need extra risk monitoring services?
   CashEdge has developed the most sophisticated risk management technology tools in the industry. These technologies create system boundaries that help contain fraud. But fraud is constantly evolving - growing ever more complex and sophisticated. That is the reason why it is very important to have human intelligence build on top of the system.
   
   CashEdge Risk Monitoring Services take risk management one step further, applying human intelligence and behavioral pattern risk models across population segments to proactively monitor, predict, and mitigate fraudulent transactions – often stopping them before they ever hit the network.

Risk Management & Security

1. How big is the CashEdge risk management team?
   CashEdge employs over 35 highly experienced and certified, in-house risk professionals. These professionals come from various industries including risk management, investigations, and law enforcement. In instances of fraud, the risk team works with institutions to determine the level and extent of fraud and, if necessary, escalates the situation to appropriate law enforcement agencies. The team also spends significant time and resources studying and watching emerging trends and the changing nature of fraud that can be incorporated into CashEdge’s risk monitoring strategy and services.
2. What exactly does CashEdge monitor and how is this critical to preventing fraud?
   CashEdge Risk Monitoring focuses on critical points in the life cycle of a customer, account and transaction from inception, to completion, and beyond.

Deployment and Integration

1. How do I buy Risk Monitoring services?
   If you are an existing client, please contact your client relations manager. If you are not yet a CashEdge client, please contact the sales department at sales@cashedge.com or call 212-478-6023 to discuss your risk management needs.
2. Can CashEdge provide risk management services even though I have developed my own in-house money movement solutions?
   Yes, CashEdge has developed sophisticated capabilities which have broad usability across the industry. Please call 212-478-6023 or email sales@cashedge.com for more information.