New Cheque Fraud Protection Technology
Communications Specialist Becomes First Firm To Use Brand New Fraud Protection Technology
Core Retail, the leading supplier of pre-paid SIMs and mobile accessories, has become the first organisation to deploy a brand-new payments tool that automatically flags and rejects counterfeit, forged and fraudulently altered cheques. UCN Plus® – patents pending – was officially launched last month by The TALL Group of Companies, the UK’s leading provider of secure electronic and paper payments solutions, and DIA Europe, providers of the Kappa cheque fraud prevention platform.
The communications specialist has a long-standing relationship with Checkprint (a member of the TALL Group of Companies) to securely print, personalise, infill and mail their cheques through the Checkprint Bureau Service. As part of the updated agreement, Checkprint will now incorporate UCN Plus® as part of its service offering to Core Retail.
UCN Plus® enables the variable payment data – payee name, amount, date, etc – to be encrypted and hidden within a QR code printed on the face of all cheques issued by the TALL Group on behalf of its cheque bureau customers. Once the recipient has deposited the cheque, Kappa’s profiling and matching tool alerts the issuing bank to any mismatch, and customers can review the item before committing to pay, and still remain within the new two-day clearing cycle. This reduced clearing cycle forms part of the Image Clearing System (ICS), which was officially introduced across the UK last October. As part of ICS, cheques are now digitised at the point of deposit, and are no longer be transported during the clearing process.
Jonathan Lovell, Chief Financial Officer at Core Retail, said: “We are delighted to be working with Checkprint and the inclusion of the UCN Plus® on our cheques adds an extra level of security. We have always put innovation and serving our customers at the heart of what we do. We believe this will continue to ensure Core’s expansion well into the future. By embracing this innovative approach to cheque security, we are matching our own future ideals.”
Martin Ruda, Group Managing Director at the TALL Group of Companies, said: “As an organisation committed to the safety, security and integrity of the cheque payments system, the collaboration with Kappa has enabled us to deliver a further and critical layer of fraud prevention to the UK’s corporate cheque users. The benefits of the new Image Clearing System will underpin the continuing effectiveness of the cheque as a payment tool, and the TALL Group will strive to ensure the UK payments systems stay one step ahead of the fraudster.”
The TALL Group Launches Innovative Cheque Fraud Prevention Tool
TALL Group Partners with DIA Europe to Launch Innovative Cheque Fraud Prevention Tool – UCN Plus®
The TALL Group of Companies, the UK’s leading provider of secure electronic and paper payments solutions, has partnered with DIA Europe, providers of the Kappa cheque fraud prevention platform used by many leading banks, to create a new tool that is designed to strengthen the cheque industry’s protection against payment fraud. UCN Plus® – patents pending – will help to ensure that counterfeit, forged and fraudulently altered cheques are robustly and automatically trapped and rejected wherever possible.
UCN Plus® enables the variable payment data – payee name, amount, date, etc – to be encrypted and hidden within a QR code printed on the face of all cheques issued by the TALL Group on behalf of its cheque bureau customers. Once the recipient has deposited the cheque, Kappa’s profiling and matching tool alerts the issuing bank to any mismatch, and customers can review the item before committing to pay, and still remain within the new two-day clearing cycle.
This reduced clearing cycle forms part of the Image Clearing System (ICS), which was officially introduced across the UK last October. As part of ICS, cheques are now digitised at the point of deposit, and are no longer to be transported during the clearing process. The paper document has no legal value once imaged and that image transmitted into the infrastructure, so the integrity of the digital image becomes fundamental to its use as the ‘instrument’ to achieve the funds transfer.
This new system requires the use of Image Survivable Features (ISF), such as UCN Plus®, to protect against fraud. Overall payments fraud fell by 5% in 2017 compared to the previous year, however the total figure still stood at £731.8m. This is despite £2 in every £3 unauthorised fraud being stopped that year.
Commenting on the launch of the UCN Plus®, Martin Ruda, Group Managing Director at the TALL Group of Companies, said: “As an organisation committed to the safety, security and integrity of the cheque payments system, the collaboration with Kappa has enabled us to deliver a further and critical layer of fraud prevention to the UK’s corporate cheque users. The benefits of the new Image Clearing System will underpin the continuing effectiveness of the cheque as a payment tool, and the TALL Group will strive to ensure the UK payments systems stay one step ahead of the fraudster.”
J Parker Dutch Bulbs Modernises Cheque Management With The TALL Group
The TALL Group of Companies, the UK leader in the provision of secure paper and electronic payment solutions, has partnered with J Parker Dutch Bulbs to ensure the retailer benefits from improved control and visibility over how it manages a significant number of incoming cheques. The garden plants retailer has installed Checkprint Banking Assistant Professional Plus to increase efficiency across its finance office in Manchester.
Established in 1933, J Parker’s is one of the leading plant and bulb companies in the UK and remains a family-run business. As well as selling products via a successful website, the company secures substantial sales through various catalogue and newspaper campaigns. Many of these consumers choose to pay via cheque, with the organisation receiving in the region of 100,000 items each year.
After previously working alongside a third-party supplier, J Parker’s chose to bring its cheque processing function in-house and deployed Checkprint Banking Assistant Professional Plus in order to streamline the overall operation. The personalised cheque and cash deposit management system combines a desktop cheque scanner, to capture an image and details from the cheques, with comprehensive software functionality. It helps customers to comply with regulations, speeds up the banking and reconciliation process and generates a searchable archive of cheque data and images, which is valuable when dealing with customer enquiries.
Checkprint Banking Assistant Professional Plus works seamlessly alongside J Parker’s existing order processing system and allows payments to be made into different bank accounts. In the event of the retailer wishing to offer refunds via Bacs, the solution will also help to streamline any repayment processes.
Alex Woollard, Finance Manager at J Parker’s, said: “It is clear that a sizeable number of our valued customer base still enjoy paying for their goods using cheques. Therefore, it was important that we investigated new ways to automate and streamline cheque management to help save time and money. We have already been impressed by the proficiency of the Checkprint Banking Assistant Professional Plus solution and we are excited to reap the benefits moving forward.”
Martin Ruda, Group Managing Director at the TALL Group, said: “The cheque remains a fundamental method of receiving payment for many businesses, which is evident by the large volume of items received by J Parker’s on an annual basis. We offer an innovative portfolio of products that helps retailers and other businesses modernise how they process not only incoming cheques, but also printing and issuance of cheques, which leads to huge efficiency gains and cost savings.”
Checkprint finalists in the East Midlands Chamber of Commerce Business Awards
The Hinckley-based company has been shortlisted in the ‘Excellence in International Trade’, ‘Business Improvement Through Technology’ and ‘Small Business of the Year’ award categories ahead of the Awards Dinner on 21st September in Leicester after being nominated in the East Midlands Chamber of Commerce Leicestershire Business Awards 2018.
The three awards pay tribute to organisations that have excelled in the field of international sales growth and development; the use of science and technology to drive businesses forward; and to recognise those SME’s who have excelled through innovation, staff development and growth. Finalists have also been selected and judged on the quality of their products and services, their dedication to sales performance, innovation and the sustainability of their business.
Checkprint’s Hinckley site, whilst remaining a key print resource within the TALL Group, has also seen major investment in new IT equipment and infrastructure to support its new cheque imaging product line extension. The company has – through major contracts with several major banks – already provided over 5,000 cheque scanners into the new imaging market sector both in the UK and overseas.
Martin Ruda, Group Managing Director, the TALL Group, said: “We have always been ready to invest in the development of exciting technology. These innovative new products and services, built on the expertise of Checkprint’s existing relationships with major financial institutions, are helping to drive future growth within the Hinckley site. We are proud to have been shortlisted in these three award categories and are very much looking forward to the Awards Dinner in September.”
The nominations follow news earlier in the year that the TALL Group had been accorded the Queen’s Award for Enterprise: International Trade 2018 for its outstanding international sales growth boosted by input from Checkprint and the other TALL Group companies.
Checkprint To Supply Cheque Services To Nationwide
CHECKPRINT TO SUPPLY CHEQUE SERVICES TO NATIONWIDE BUILDING SOCIETY
Checkprint Limited, part of The TALL Group of Companies, the UK leader in the provision of secure paper and electronic payment solutions, has been awarded a contract by Nationwide for the provision of corporate cheques (branch cheques) services to Nationwide Building Society branches.
Under the terms of the agreement, Hinckley-based Checkprint will provide corporate cheques (branch cheques), letter cheque personalisation and distribution as well as telephone support services for any queries regarding corporate cheques delivery on behalf of Nationwide.
In addition, Checkprint will provide the building society with an auto replenishment stock management service. This service is a multi-location cheque and credit stock control system that automatically manages stock on behalf of Nationwide across all its locations.
Checkprint was awarded the new Nationwide deal following contractual relationships which have run consecutively for the last 15 years since Jan 2003.
Corporate Cheque Supply
Nathan Sheppard, Senior Payments Manager at Nationwide, said: “This new contract with Checkprint is a result of a long standing and excellent working relationship built up over the last decade and more. Checkprint and ourselves both value the commitment to the working relationship and the quality of the specific products and services provided.”
Emma Thornton, Business Development Director at Checkprint, said: “We are extremely proud to have secured this renewed contract with Nationwide and to support their local branches across the UK with the provision of our corporate cheque services. We ensure that any orders are fulfilled and distributed in a highly efficient manner, to ensure that each branch can meet its corporate cheque needs.”
Checkprint Secures Special Award For Volunteering Initiatives
Checkprint, part of the TALL Group of Companies, the UK leader in the provision of secure paper and electronic payment solutions, has received special recognition for the community work it delivers across schools and colleges. The organisation was named the winner in the ‘Outstanding Contribution to Education’ category at Leicestershire Cares’ annual celebration.
Leicestershire Cares is a not-for-profit organisation that helps businesses to find volunteering placements. Checkprint signed up as a member in January 2017, pledging to participate in a number of projects designed to benefit the local community. Since working with Leicestershire Cares, Checkprint staff have delivered regular lessons to Year 3 & 4 pupils from Battling Brook Primary School, helping students to improve their maths skills. They have also visited Hinckley Academy to carry out reading lessons for 11 to 14-year-olds, whilst providing school leavers with training sessions on interview techniques to help them find suitable employment opportunities.
This activity helped Checkprint to beat off stiff competition from Howes Percival, Office Depot and Melton Foods to secure the award, which was presented during a special celebration at Winstanley House in Leicester on Tuesday night (15th May).
Earlier that day, a team from Checkprint had joined local Hinckley & Rugby Building Society staff and Hinckley Academy staff and students at Hinckley East Sure Start to apply a lick of paint to fences, garden furniture and buildings at the centre in a Leicestershire Cares challenge.
The Hinckley East Sure Start centre offers pre-school age children and their families a range of services that are tailored to the needs of the local area but meet the government’s targets to improve the lives for pre-school children and their families.
Checkprint has also taken part in a number of other Leicestershire Cares initiatives over the last 17 months. Last summer, nine staff members rolled up their sleeves to take part in an eight-hour painting session as part of a project to refurbish a playground in Braunstone. In addition, team members also took part on a food bank challenge in Fairshare and an Age UK event in Leicester.
Martin Ruda, Managing Director said: “We are honoured to receive this special award which is testimony to the time and effort put in by each and every volunteer at Checkprint. We are extremely proud to work alongside Leicestershire Cares and to contribute to a number of worthwhile initiatives that make a true difference to various people across the community.”
“Every Checkprint volunteer who has participated in an activity has brought back a sense of fulfilment and positivity, which is infectious across the business. This is only our second year as a member of Leicestershire Cares but the enthusiasm from our employees has been incredible, which has only been matched by our team of directors.”
“We would encourage other local organisations to engage with Leicestershire Cares as it seeks to bring business and the community together, providing volunteering opportunities across Leicestershire. Checkprint has benefited greatly by raising staff morale, developing staff skills and building stronger teams. This has resulted in our own improved productivity and increased motivation. We have also been able to raise brand awareness and build on our reputation within the Hinckley area. Major benefits all round.”
Checkprint Brushes Revitalise Local Playground
It was paintbrushes to the ready as a Hinckley-based printing firm recently took part in a special community initiative to refurbish a playground in Braunstone. Employees from Checkprint donned their overalls for the day as part of the company’s commitment to Leicestershire Cares.
Nine staff members rolled up their sleeves to take part in an eight-hour painting session that saw the team re-stain the entire assault course. This initiative formed part of the Braunstone Adventure Playground’s Restoration Week, which sees the entire facility renovated for the summer holidays.
Checkprint, based on the Dodwells Bridge Industrial Estate, signed up as a member of the not-for-profit organisation Leicestershire Cares earlier this year, pledging to participate in a number of projects designed to benefit the local community.
Checkprint supporting Leicestershire Cares in the community
So far, team members have also delivered weekly lessons to Year 3 & 4 pupils from Battling Brook Primary School, helping students to improve their maths skills. They have also visited Hinckley Academy to carry out reading lessons for 11 to 14-year-olds, and provide training sessions on interview techniques to help school leavers prepare for work.
Mark Temple, Key Account Manager at Checkprint, said: “It was a long and tiring day but we are extremely proud to have made a significant difference to the playground. We chose to take part in this challenge because we employ a number of people from Braunstone, whilst it also brings together employees from different areas of our business who wouldn’t normally have the chance to work together. Leicestershire Cares is a brilliant initiative and it has been an extremely rewarding scheme so far.”
Joanne Hudson, Membership Coordinator at Leicestershire Cares, added: “The Checkprint team did a fantastic job helping to rejuvenate the assault course and the staff at the playground are grateful for them taking part in Restoration Week. Their hard work and dedication will make a huge difference as excited children flock to the park throughout the summer holidays.”