case study

Combating Check Fraud by Reducing False Positives with Unit21's Transaction Monitoring

Jo Davenport, SVP, Fraud Director of Third Coast Bank was in search of a new Transaction Monitoring solution. With check fraud on the rise, Third Coast Bank's fraud department was seeing an influx of alerts but struggled to review and investigate these alerts in a timely manner.

"My top priority is to reduce the number of false positives. But with check fraud on the rise, we’re seeing increased fraud such as counterfeit checks and altered payeesIt. It was taking our team a really long time to properly investigate those alerts.” 

Jo Davenport, SVP, Fraud Director of Third Coast Bank was in search of a new Transaction Monitoring solution. With check fraud on the rise, Third Coast Bank's fraud department was seeing an influx of alerts but struggled to review and investigate these alerts in a timely manner.

"My top priority is to reduce the number of false positives. But with check fraud on the rise, we’re seeing increased fraud such as counterfeit checks and altered payeesIt. It was taking our team a really long time to properly investigate those alerts.” 

Third Coast Bank's BSA and AML teams have happily partnered with Unit 21 for a year for its AML ongoing monitoring. Jo thought it only made sense to bring the Fraud team into Unit21 as well so they have one place to manage all of our fraud and AML.

"The implementation has been going very well. The Unit21 team has been very sensitive to our needs and understand our ultimate goal. In any case that they did not quite understand, they came back with additional questions to make sure that they hit our target”.

Jo Davenport
SVP, Fraud Director of Third Coast Bank

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