ORLANDO, Fla. (SEND2PRESS NEWSWIRE) — CONIX Systems, a leading international provider of payment processing solutions to the financial services industry and a pioneer in the creation of post-Check 21 exceptions management tools, will showcase Xcept, its Day 1 exceptions processing solutions, at the BAI Payments Connect Conference in Kissimmee, Fla., March 1-3 (booth #604).
While advancements in payments and electronic clearing methods, such as RDC and Check 21, have generated mostly positive results, the need for banks to protect customers and themselves from fraud and error has increased. CONIX Systems has developed Xcept to provide banks and processors a common exception-handling gateway that shifts Day 2 exceptions processes into the Day 1 environment, thereby intercepting exceptions and potential fraud sooner. In addition, banks and processors are able to mitigate losses by increasing the speed of collections and reducing adjustment items.
“The payments landscape has seen an explosion of innovation over the past few years, yet, in many cases, the means by which banks process payments have not evolved as quickly, leaving banks exposed to an enormous amount of risk,” said president of CONIX Systems Frank Stokes. “In the post-Check 21 environment, banks must accelerate their exceptions processing in order to meet return deadlines and recover funds within the allotted window of time.”
Xcept is architected to provide detection, automated decisioning, and routing for many types of commonly occurring exceptions, including:
* Stop payment orders,
* Closed accounts,
* Positive pay, and
* Many types of fraudulent payments.
Using criteria from existing systems, Xcept detects exceptions across various incoming payment streams such as check capture, ACH, image exchange, RDC, and others. The criteria can be based off any combination of MICR information, including dollar thresholds for account or account ranges, depositor or payment source.
About CONIX Systems:
CONIX Systems Inc. is a world leader in providing payment processing software and related services to the financial services industry. The company’s products perform key processing tasks for an estimated 100 billion paper and electronic items each year and handle virtually every aspect of payment processing – including work flow management, exception processing, early fraud detection, image exchange. CONIX software and services are used by approximately 90 percent of the largest banks in the country. Founded in 1992, the company is headquartered in Manchester, Vt., with offices throughout the United States.
More information: http://www.conixsystems.com/products/Xcept.asp .
CONIX Systems is a Microsoft Gold Certified Partner and a member of IBM’s PartnerWorld for Developers.