4/5/2017 IFS Announces Strategic Partnership with GIACT

EPIC Platform will be offered to IFS clients to strengthen risk mitigation, improve fraud prevention capabilities

Impact Financial Systems, Inc. (IFS), a leading provider of process automation solutions for financial services firms, and GIACT, the industry leader in identity and payment fraud reduction, today announced a new technology partnership and integration. Under the partnership, IFS will offer its customers the complete EPIC Platform to eliminate payments risk and identity fraud, verify customers, and stay in compliance with KYC requirements. IFS will integrate EPIC into its IFS Asset Movement Solution.

The integration of the IFS Asset Movement Solution and GIACT’s EPIC Platform allows firms to process banking transactions, such as Fed Wires and ACHs, with confidence. The joint initiative brings a multitude of other benefits to IFS customers:

  • Ability to reduce and mitigate ACH and Wire fraud
  • Improved customer experience
    • Most ACH and Wire transactions no longer require a voided check for validation
    • Quicker risk decisioning, allowing for faster processing times
  • Lowered costs
    • Reduced NSF and ACH charges
    • Reduced manual review resources due to automation
    • Prevented losses from fraud
    • Lesser fess associated with collections, and investigations
  • Supported and enhanced supervisory procedures
    • Confirm if a bank account is open, active and in good standing
    • Confirm account ownership and signers
    • Improved new and existing customer intelligence
    • Bundled OFAC and KYC intelligence

Randy Barnes, IFS Director of Product Development, commented, “Risk management is a continuous focus for our customers, and we are pleased to work with GIACT to continually innovate and bring enhanced solutions to the market. Through this relationship our customers will be able to identify possible fraud in real-time, before the transaction is generated, greatly reducing their exposure to fraudulent ACH or Fed wire transactions.”

To learn more about IFS, GIACT, or this announcement, visit their websites or contact the individuals listed at the conclusion of this release.

About IFS

IFS is the leading provider of automation solutions for Client Onboarding and Asset Movement. The company’s service request automation solutions are deployed at some of the world’s largest brokerage, wealth, banking and insurance companies. IFS’s solutions are powered by the by the IFS Automation Platform, enabling rapid creation, customization and deployment of automated service request solutions for any service delivery channel. For more information please visit us at www.ifsautomation.com or call 704.894.9331.

About GIACT
GIACT™ is on the forefront of helping companies eliminate payments risk and identity fraud, verify customers, and stay in compliance with KYC requirements. Our technology solutions are currently used by over 1,000 companies, from Fortune 500 companies to sole proprietors and spanning a diverse range of industries that rely on our customer intelligence to provide complete payment confidence and protect their customers. For more information, visit www.giact.com.

For more information, contact:

Impact Financial Systems:
Tracie Hummel, Marketing Manager
tracie.hummel@ifsautomation.com
(980) 819-4734

GIACT:
David Barnhardt, EVP Product
david.barnhardt@giact.com
(214) 644-0450