Market Overview

VSoft Launches OnView Positive Pay


Intuitive solution to protect financial institutions and their
business customers from fraudulent checks now available

, a global provider of information and technology
solutions for financial institutions, announced the launch of
OnView Positive Pay, which mitigates fraudulent checks and increases
operational efficiency for financial institutions.

According to the Association for Financial Professionals' 2017 Payments
Fraud and Control Survey
report, 75 percent of organizations
experienced check fraud in 2016, which is an increase from 71 percent in
2015. OnView Positive Pay can significantly enhance an institution's
cash management technology portfolio, and by offering this intuitive
application to business account holders, institutions can create a new
source of revenue while mitigating risks overall.

OnView Positive Pay's streamlined workflow automates the detection of
fraudulent items. When an issued check's account number, check number,
amount, issue date or payee is matched against posted data and fraud is
detected, customizable rules are triggered to stop the fraudulent check.
Business account holders can decide to accept or return the item in the
user-friendly Positive Pay application. If the account holder does not
act on the reported fraud, the financial institution itself can approve
or return the check through tailored item decisioning logic.

The platform's rules, restrictions and thresholds are highly
customizable, granting institutions the ability to tailor their users'
experiences. The implementation of Positive Pay allows financial
institutions to benefit from a full audit trail that captures metadata
elements for in-depth research, providing better visibility into account
holder data. Additionally, business account holders can pull reports
using a variety of comprehensive fields to access audit trail data.

When seamlessly integrated with OnView Payments Manager, Positive Pay
can catch fraud before an item is posted, decreasing a financial
institution's number of returned items. The Positive Pay application
also makes assigning user roles and restrictions easy, allowing
financial institutions and business account holders to efficiently run
operations, secure information and reduce bandwidth.

"As reported payment fraud increases year after year, fraudulent checks
continue to be a top concern for business owners," said Murthy
Veeraghanta, chairman and CEO of VSoft Corporation. "Despite this
increase in fraud and the apparent need for having controls in place,
many financial institutions do not offer a user-friendly product to
business customers that makes dealing with fraudulent checks simple."

"OnView Positive Pay solves this challenge," Veeraghanta continued.
"VSoft offers a unique, automatic solution to validate checks and
increase effectiveness in dealing with fraud, even when business owners
refrain from accepting or returning the check themselves. OnView
Positive Pay is a game-changer for business account holders as well as
financial institutions, giving them each a strong competitive advantage
when faced with fraud."

About VSoft Corporation

VSoft Corporation offers platform-based services for the banking and
financial services industry. Its core, payment and digital banking
solutions reduce cost and maximize efficiency while providing seamless,
real-time, high-volume and high-performance transactions across multiple
channels. The VSoft platform can be delivered in-house, or as an
outsourced ASP or SaaS model to best meet the needs of individual
financial institutions. VSoft's services have been trusted by financial
institutions worldwide. For more information, please call 770-225-7692,
or visit,
or follow them on Twitter @VSoft_Corp.

View Comments and Join the Discussion!