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EmagineNET Quick Check: Check Cashing Software

What is it?

EmagineNET Quick Check TM is a software solution that provides check-cashing merchants with the first line of risk management tools. It uses leading biometric technologies to allow merchants to build a positive and negative database of their companies and customers. Each time a customer presents a check, the software mines this database to give the merchants relevant company/customer information in concise views that help them accurately evaluate the risk associated with the transaction. EmagineNET QuickCheck can also integrate with EmagineNET Network, EmagineNET Private Network or EmagineNET Decision Engine Services to provide additional risk management tools.

How does it work?

The most significant risk factor for check-cashing merchants is fraud checks. Unlike NSF checks, fraud checks are usually presented by organized groups of people who have systematically forged checks to deceive the merchants. Rarely does a "good customer" (one who has been successfully cashing a specific company's check for an extended period of time) present fraud checks. The fraud checks usually come from new customer or existing customer who present a check from a different company.

EmagineNET QuickCheck is build around this principle. It quickly identifies weather a check is from a new or existing company and/or customer. If the check is from an existing company and customer the system displays the relevant information to help determine the risk and to process the transaction. If the check is from a new company or customer the system goes through the registration wizard that allow the merchant to capture the customer's fingerprints, picture, check image and ID/DL image. In so doing, the system deters people from presenting fraud checks.

How can it help my business?

EmagineNET QuickCheck is designed for independently owned check-cashers who manage their own business. It allows merchants to reduce dependency on the employees by retaining the knowledge of good and bad companies and customers in the software. The software also allows merchants to build goodwill for their check cashing business.