Ensenta Corp., a remote deposit capture software provider, announced that it has been issued a patent for risk mitigation software, widely employed by credit unions via the CO-OP My Deposit check imaging suite.
The Ensenta software helps protect credit unions from accepting fraudulent check images in remote deposit applications. The software evaluates the images based on 150 different qualities – too dark, too light, check number location, etc. – to ensure authenticity. The credit union member benefits by the fact that the checks they are depositing can be cleared in real-time.
Ensenta sought the patent to protect its intellectual property, provide additional client confidence in the technology and enable Ensenta to more vigorously promote product features and benefits.
“Ensenta specializes in remote deposit capture and cloud-based risk mitigation applications, with over 300 financial institutions subscribing to our services,” Ensenta CEO Ed Viera said. “The software allows financial institutions to use the web to decision and manage funds availability on checks by creating and enforcing policies, which associate risk factors with severities. Financial institutions can target specific risk management policies for the ATM, Web and mobile channels. Each channel carries its own set of risks and challenges and our patented solution uniquely addresses these.”
The Ensenta software is used in the CO-OP My Deposit remote deposit check imaging suite, which includes CO-OP My Deposit for individuals and small businesses; CO-OP My Deposit Mobile for mobile device usage and CO-OP My Deposit Branch for back office processing.