Company Overview and History

Founded in 1999 as BioPay, the company pioneered the use of biometric identification, specifically fingerprint scanning, to simplify consumer transactions and mitigate fraud. This early focus on robust identity verification laid the groundwork for the secure and reliable platform that AllTrust Networks is known for today. In 2008, the company rebranded as AllTrust Networks to better reflect its expanded suite of services beyond biometrics.

Over the years, AllTrust Networks has processed billions of dollars in checks for millions of consumers, building one of the largest consumer biometric databases in the United States. This extensive database is a cornerstone of their risk management capabilities, allowing for effective fraud detection and prevention across their network of merchants.

Core Business and Specialization

The core of AllTrust Networks' business revolves around providing a secure, efficient, and compliant environment for cashing checks. Their solutions are designed to automate and streamline the entire check cashing process, from customer enrollment and identity verification to transaction processing and regulatory reporting. By leveraging advanced technology, including cloud-based platforms and sophisticated algorithms, AllTrust Networks helps its clients reduce risk, increase efficiency, and enhance customer service.

A key differentiator for AllTrust Networks is its emphasis on a multi-layered approach to security. This includes not only their foundational biometric identification but also access to a national fraudster database, negative check data sharing across their network, and customizable risk management rules.

Products and Software Solutions

AllTrust Networks offers a suite of software products tailored to the specific needs of their diverse clientele. These solutions can be deployed in various environments, from single-station retailers to large, multi-lane supermarket chains.

SmartCheck

SmartCheck is AllTrust's modern, cloud-based check cashing software. It is designed for flexibility and accessibility, compatible with major web browsers like Google Chrome, Microsoft Edge, and Firefox. SmartCheck provides a comprehensive set of features, including:

• Biometric ID & Authentication: Utilizes fingerprint scanning for secure and fast customer identification, reducing the risk of identity fraud.
• National Fraudster and Negative Check Databases: Provides real-time access to extensive databases of known fraudsters and bad check writers.
• Configurable Pricing and Risk Rules: Allows businesses to customize their check cashing fees and acceptance criteria based on various factors such as check type, amount, and customer history.
• Government Compliance Reporting: Automates the generation of reports required by regulatory bodies, including Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs), to ensure adherence to the Bank Secrecy Act (BSA) and other regulations.
• Reporting & Analytics: Offers detailed reporting and analytics tools to provide insights into transaction trends, customer behavior, and overall business performance.
• Real-time Data Backup: All transaction data is securely backed up in the AllTrust cloud, ensuring data integrity and business continuity.
• Private Label Capabilities: Larger chains can brand the SmartCheck interface with their own logos and color schemes for a consistent customer experience.
• Verification Services: Includes address and cell phone verification to further strengthen identity validation.

Paycheck Secure

Paycheck Secure is a robust, Windows-based check cashing software solution. It offers many of the same powerful features as SmartCheck, including biometric authentication, access to fraud databases, and comprehensive compliance reporting. Paycheck Secure is designed for businesses that prefer an on-premise software installation and offers features such as:

• Fingerprint ID & Authentication: Provides secure and reliable customer identification.
• In-Store Voucher Program: Enables the issuance and tracking of in-store credits or vouchers.
• Automated Data Backup: Securely backs up encrypted data to AllTrust's data centers.

SmartCheck Mobile

Recognizing the growing importance of mobile solutions, AllTrust Networks developed SmartCheck Mobile. This mobile application extends the functionality of their core platform to tablets and smartphones, allowing for a more flexible and convenient check cashing experience. It is particularly beneficial for businesses looking to reduce wait times or offer services outside of a traditional counter setting.

Services Offered

In addition to their software products, AllTrust Networks provides a range of services designed to support their clients' operations and enhance their risk management capabilities.

• Review Center: This service provides a second level of review for high-risk or unusual transactions. When a transaction is flagged, it can be sent to AllTrust's team of experienced risk analysts for manual review and a decision, helping to minimize losses while maximizing approval rates.
• Check 21 Electronic Deposits: AllTrust's Check 21 service allows businesses to convert paper checks into electronic images for deposit, streamlining the settlement process and improving cash flow. This service is integrated into their software solutions, providing a seamless workflow.
• Bill Pay Solutions: To help their clients become a one-stop financial services center, AllTrust offers an integrated bill payment solution. This allows customers to pay a wide range of bills, including utilities, credit cards, and more, directly from the point of sale.
• BSA/AML/OFAC Compliance Programs: AllTrust Networks assists businesses in developing and implementing comprehensive Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC) compliance programs. This includes risk assessments, written policies and procedures, and employee training.
• Third-Party Independent Reviews: To meet regulatory requirements, AllTrust Networks can facilitate independent reviews of a business's AML program to ensure its effectiveness and compliance.
• MSB Bank Account Support: Recognizing the challenges that many MSBs face in obtaining and maintaining bank accounts, AllTrust Networks offers guidance and support in this area.
• Hardware Packages: AllTrust Networks provides turn-key hardware packages that are fully compatible with their software. This can include check readers, ID scanners, fingerprint scanners, and printers, simplifying the setup process for new clients.
• AllTrust Web Services (ATWS): For businesses with unique needs or existing point-of-sale systems, AllTrust offers a web services API. This allows for the integration of AllTrust's various services, such as customer enrollment, check decisioning, and compliance reporting, into third-party applications.