For credit unions utilizing its CU*BASE® processing system, and in response to continually growing trends of fraud and regulatory agencies urging credit unions to keep a close eye on member activity, CU*Answers offers a valuable tool that allows credit unions to better monitor high risk activity within their membership.

The 100% credit union-owned CUSO said its Abnormal Activity Monitoring dashboard, which is provided free to every credit union on the core platform, is uniquely designed to help staff more easily perform their due diligence as it pertains to fraud and monitoring special situations. The feature does so by electronically sifting through member transactions to find those that are either abnormal or high risk based on member activity trends and parameters set by the credit union.

One way in which the system allows a credit union to set parameters is to review transactions based on the transaction origin. Each credit union is then able to define ranges (number of transactions and dollar amounts) for a month’s worth of transaction activity that the credit union would consider as normal, abnormal, and high risk for the group. Credit unions utilizing this tool are able to more easily and carefully track member activity via nearly every delivery channel, trend this activity over time, and focus upon specific situations requiring greater attention in a faster, more efficient manner.