Mail Check Fraud (also known as postal fraud) refers to the illegal act of intercepting, altering, or stealing checks sent through the mail in order to commit fraud.
Member/Customer-centric ECM solutions use numeric ID codes generated by the banking core to consolidate multiple accounts of a single member or customer into one accessible view for content management.
Merchant Capture refers to a check processing service that allows small and medium-sized businesses (SMBs) to scan checks at their place of business and electronically transmit the images and associated data to their bank or credit union for deposit, rather than physically depositing the checks at a branch.
In banking, the phrase “missing documents” refers to documents that a bank should have in its files but does not.
Mobile banking involves the use of a smartphone, tablet, or another mobile device to view account information and transactions, transfer funds, pay bills, deposit checks, and perform related banking activities.
Money order fraud happens when a fraudster purchases a money order for a dollar then changes the amount in figure to a higher amount.
Mortgage quality control involves preparing the correct documents, obtaining signatures from the right people, providing the proper disclosures at the appropriate time, and maintaining accurate documentation.
With multi-factor authentication (MFA), an application’s users are required to provide more than one method of verification prior to use.
The phrase “multiple guarantors” is used by financial institutions when describing a loan that is guaranteed by more than one entity. A guarantor could be an individual, LLC, corporation, or another type of entity.