Magazine article American Banker

Texas Commerce Offers Anti-Fraud Service for Small Business

Magazine article American Banker

Texas Commerce Offers Anti-Fraud Service for Small Business

Article excerpt

Texas Commerce Bank is offering a service meant to help small businesses using personal computers prevent check fraud.

The program, which the bank calls Checkmate, was developed by BankLink Inc., a subsidiary of Chemical Banking Corp., which is also Texas Commerce's parent company.

Approximately 20 customers have signed up and will be using the system in the next two weeks, reported Ann W. Johnson, vice president, information reporting product manager. Bank officials anticipate having 1,500 customers on the system by the end of the year, she said.

Texas Commerce's large corporate customers already send daily lists of issued checks directly from their mainframes to the bank's mainframe, said Ms. Johnson. But small customers that do not have the capability to make mainframe transmissions needed a way to send issued check information to the bank as well, which is why the product was developed, she said.

How It Works

Checkmate works by flagging potentially fraudulent checks.

Corporate customers create a Checkmate file containing the numbers and amounts of checks written that day. This information is keyed in manually, or, if the customer is using a check writing system, can be imported into Checkmate.

The files are then sent to BankLink's central computer.

BankLink merges all the files sent by businesses into one large file that Texas Commerce can upload. …

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