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MHC offers two state-of-the-art solutions designed to reduce the incidences of check fraud. Click on the links below for details on each:

Secure Seal™
Positive Pay™

At the forefront of check fraud prevention, Secure Seal provides a “fingerprint” of all check information on the check itself — unobtrusively, or as a decorative element. This fingerprint eliminates the need for positive pay, reverse positive pay, and transmission of the check data to the bank.

MHC Software, Inc. has entered into a strategic partnership with FiServ and Enseal to incorporate Bitseal Secure Seal Encoding Technology into our Document Express™ Printing Solution. J.P. Morgan Chase, Northern Trust, Bank of America and the U.S. Treasury all have embraced this state-of-the-art technology.

Secure Seal takes fraud prevention a step further by incorporating the Payee Name, Check Number and Check Amount into an encrypted "seal," which is printed directly onto the check document. All important information on the face of the check is encoded in the "seal" as well. Clients have a unique "private key"; only the financial institution is able to decode the seal and verify the key information contained.

All information is verified during the proof process, including the critical Payee Name. Most banks do not provide Payee Name verification as part of the standard positive pay process, leaving a gap in the fraud prevention process. With Secure Seal, Payee Name, Check Number and Check Amount all are incorporated within the "seal."

Benefits of Secure Seal
• Offers the latest in fraud-prevention technology, currently used by the U.S. Treasury Department on all of its documents
• Eliminates the need to transmit check paid (positive pay) files to the bank
• Provides full protection, including payee verification
• Furnishes a visible show of due diligence to prevent check fraud

Positive Pay
A fraud-prevention method offered by banks to their corporate clients, Positive Pay is designed to alert you of suspected fraudulent checks early enough so the checks can be returned within a 24-hour window. If the bank approves payment on any checks not contained in an issued file, then the bank remains liable. Positive Pay greatly reduces your firm’s risk of loss.

After each document run is printed, Positive Pay creates a file that complies with the format requested by your bank. The file is transmitted to the bank, and you only are responsible for paying documents listed in that file. Voided documents within your ERP Package may be imported into the Positive Pay Module or manually entered into Document Express. Positive pay files are generated in the appropriate format and securely transmitted to the bank using FTP with encryption, Internet or modem transfer.

Positive Pay Reporting Tools

The Positive Pay module provides a library of bank formats.

 

Benefits of Positive Pay

• Formats files to meet bank specifications
• Features easy-to-use reporting tools
• Offers void capabilities
• Provides pay history
• Consolidates multiple accounts into a single transmission, saving on bank costs
• Facilitates more convenient transmission to bank
• Keeps a library of existing bank formats
• Features file encryption to comply with SOX requirements
• Lets you send Payee Name to the bank for “Postive Pay Plus” [?]
• Offers turn-key solution testing with the bank

Service and support by MHC Software
Our commitment to superior quality and customer service comes with a 100% customer satisfaction guarantee. The turn-key system allows us to design, implement, test and enter into production within 30 days. Once implemented, our comprehensive maintenance plan ensures you of excellent support and value. The annual software maintenance plan includes changes to the software required by an ERP upgrade, software upgrades and improvements, software support, and ongoing compatibility with ERP applications. Our commitment to keeping you in sync with the ERP system is just one of the ways we exercise the motto, “Get a customer and keep ‘em forever.”

Customer Testimonial: Secure Seal National Financial Partners or PSID	Customer Testimonial: Positive Pay Truman
Related Products Document Express Payroll Document Express Accounts Payable Positive Pay	Related Topics Check printing Secure Seal Sox Compliance Fraud Prevention

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