Ooltewah, Tenn., March 28, 2016 -- ACH Alert, an award-winning provider of patented, innovative fraud prevention technology for financial institutions of all sizes, announced that it has achieved record growth, experiencing more than a 350 percent increase in net income and expanding its client roster by 16 percent in 2015, resulting in a total income increase of 18 percent in 2015 while recurring revenues grew by 29 percent from 2014 to 2015.
Fighting payments fraud continues to be a challenge. While the financial industry strives to eliminate fraud, cybercriminals constantly evolve their tactics to bypass enhanced security measures. Features like firewalls, security tokens and one-time password technology have been implemented as protection strategies but these measures can be easily breached with malware.
In response, financial institutions are increasingly partnering with ACH Alert to enact stronger authentication methods, but not in the traditional sense. ACH Alert’s solutions are designed to put the customer in control of detecting fraud. No one knows their account better than the actual account holder, making them the best method to fight payments fraud. By recognizing the efficacy of account holder authentication, financial institutions can empower customers and give them complete control over their accounts, reducing the risk of fraud.
“Partnering with ACH Alert was a solid decision for us,” said Chris Styga, Sr. Vice President and Director of Corporate Treasury Services at Trustmark National Bank. “Developed by top-notch industry leaders, their solutions are reliable and proven to help eliminate fraud while automating manual, labor-intensive processes. We’ve also created a new revenue stream while improving the customer experience. It’s truly a win-win.”
ACH Alert’s founders continue to pioneer the electronic payments industry. The entrepreneurial team has been successfully bringing electronic payment solutions to market for more than 25 years. Leveraging past knowledge, ACH Alert went from concept to reality in 2007. The company’s cutting edge technology is designed to reduce cost, financial loss and reputational damage associated with ACH and wire fraud.
“After an exciting year of growth, we plan to use that momentum moving forward as we continue to develop solutions that reduce the financial costs and reputational damages stemming from ACH and wire fraud,” said Deborah Peace, AAP, chief executive officer of ACH Alert. “Protecting account holders from fraudulent ACH and wire transfers is a basic regulatory obligation of all financial institutions, but strategic-thinking financial institutions like Trustmark and many others are partnering with us to raise their security to another level. ACH Alert remains focused on increasing corporate, small business and consumer confidence in ACH and wire payments, and we look forward to another successful year for our industry.”
About ACH Alert
Founded in 2007, ACH Alert provides patented, innovative fraud detection services to financial institutions ranging from community banks to top tier financial institutions. Relying on more than 25 years of industry experience, ACH Alert assists financial institutions in mitigating the risks associated with electronic payments. ACH Alert is the 2012 recipient of the Kevin O’Brien ACH Quality Award, the highest award for quality in the ACH Network industry. For more information, visit www.achalert.com , or follow them on Twitter @ACHAlert, Facebook, or LinkedIn.
Source: Company press release.