Digital Payments News

AMI Information Systems Partners with DoubleCheck Solutions to Offer Credit Unions Innovative NSF Protection

AMI Information Systems Partners with DoubleCheck Solutions to Offer Credit Unions Innovative NSF Protection
DoubleCheck’s solution allows AMI to give customers transparency and control to correct NSF transactions

AMI Information Systems is partnering with DoubleCheck Solutions to give their credit union members the ability to offer members protection from non-sufficient funds (NSF) before any payments are declined. This is the first time AMI has added non-sufficient funds services to their advanced core processing systems services, choosing DoubleCheck for its innovative, patented technology.

AMI Information Systems has delivered unique and innovative core processing technology to Credit Unions for nearly 40 years.  Their integrated features such as member document imaging, digital banking with mobile check deposit, helps their Credit Unions achieve efficiency using modern technology. With the new DoubleCheck partnership, the credit unions that AMI works with will be able to notify members in real-time when an account is overdrawn. Members will immediately see which transactions will be declined and can reprioritize which transactions get paid and which do not.

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DoubleCheck also gives the account holder the option to pay for NSF transactions and potentially overdrawn items with cash, credit card, or a third-party payment service. This control makes it easy to ensure priority payments like rent, mortgage and utilities are made first. In addition, people can report suspicious or fraudulent charges through DoubleCheck, enabling them to immediately reject the item.

With DoubleCheck, consumers have a streamlined way to avoid the ripple effect of negative consequences that result from a declined payment, including hefty fees and poor credit ratings.

“Our partnership with DoubleCheck will help our credit union clients provide even better service to their members, by offering the latest technology and the most comprehensive NSF and overdraft solution on the market,” said Jason Greenwood, president of AMI Information Systems. “At AMI, we are always looking for ways to stay on the cutting edge of technology and DoubleCheck makes this possible.”

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“The importance of NSF and overdraft protection continues to be a major issue for financial institutions and consumers. Restoring a fair marketplace is a top priority for industry regulators such as the Consumer Financial Protection Bureau. At DoubleCheck, we offer a private sector solution that brings unprecedented transparency and control to consumers in a way that not only minimizes disruption for financial institutions, but also brings them new value,” said Joel Schwartz, founder and co-CEO of DoubleCheck Solutions. “We’re extremely pleased to partner with AMI and offer them the latest technology for their customers.”

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[To share your insights with us, please write to sghosh@martechseries.com]

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