Introducing the FIS Red Flag Checklist!
The November 1st compliance deadline for Fair And Accurate Credit Transaction Act (FACTA) compliance is rapidly approaching. Your institution needs a program to detect, prevent and mitigate identity theft. With more than 26 red flag guidelines, this is no easy task! To help FIS is introducing our new FIS Red Flag Checklist service that is designed to help you manage, track and demonstrate your red flag compliance program.
Part of our Red Flag Solution, the FIS Red Flag Checklist integrates into existing services from FIS including FIS QualiFile and FIS ID Verification. After completing your risk assessment and identity verification during the account opening process, the Red Flag Checklist alerts you if any red flags are found. The Red Flag Checklist prioritizes issues, delivers suggested resolution steps and allows you to pursue the necessary steps to resolve the red flag. As red flags are cleared, the Red Flag Checklist offers a real-time status of each flag and stores data in an easily searchable format for ongoing internal reviews and examiner audits.
The unique benefits of the FIS Red Flag Checklist include:
- Helps ensure FACT Act compliance with minimal changes to policies and procedure.
- Maps to the 26 Red Flags within final rules & alerts your employees if a red flag is indicated.
- Offers the ability to use in the back office or in real-time on the frontlines.
- Removes subjectivity by delivering simple visual indicators to your team.
- Prompts your employees with steps on how to resolve Red Flags
- Tracks data in an easily searchable format future analysis.
- Stores reports within the applicant’s transactional record.
- Easy to implement. Simple to train your team.
- Makes the most of your technology investment by integrating into ID Verification or QualiFile® services
Your institution can make existing technology relevant to your updated compliance strategy while still protecting against fraud and keeping service levels high.
We invite you to learn more! Contact us today with our convenient online form or call us at
1.888.933.8637 (press 1 twice). Ask us about our introductory pricing program!
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