August 14, 2006 08:01 AM US Eastern Timezone

Center Bank Takes Offensive in Check Fraud Detection Using SQN Banking Systems' Technology; Recently Installed SENTRY Software Already Revealing Fraud

RANCOCAS, N.J.--(BUSINESS WIRE)--Aug. 14, 2006--SQN Banking Systems, a leading provider of integrated fraud detection and process improvement products for the financial industry, announces Los Angeles-based, Center Bank has implemented three SQN products to assist in their fraud prevention efforts including signature verification with SENTRY: Signature(TM), check fraud detection with SENTRY: Detect(TM) and centralized exception item processing with SENTRY: Exception(TM). Center Bank has $1.7 billion in assets, 17 branches, located mostly in Southern California, and 70,000 customers.

Center Bank is using SQN's SENTRY: Signature(TM) to display signature and photo ID images for verification at the teller station.

In the Back Office, Center Bank is using SENTRY: Detect(TM) to create customer profiles based on their check writing patterns. The system flags any checks that fall outside bank specified parameters for further review. Since implementation three months ago, the bank has been able to detect fraud seven times with the application. SENTRY: Detect has been verified by banks to detect up to 84 percent of users' on-us check fraud.

"The Detect module gives us a lot of additional information," said Jong Choi, executive vice president and chief operating officer for Center Bank. "For example, SENTRY: Detect will alert you if a check is presented out of sequence, or if the amount is out of volume range. It will also alert you if a check is presented with a duplicate serial number. The Detect module logically performs check examination and verification."

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