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BBVA Compass announces launch of RealTime ARP and RealTime Positive Pay

BBVA Compass has announced the launch of its industry-first BBVA Compass RealTime ARP™ and BBVA Compass RealTime Positive Pay™ products for commercial clients.

Positive Pay is a proactive fraud prevention product that alerts businesses to potential fraudulent transactions on their check or electronic payments. ARP services automate the check reconciliation process and provide reporting capability for processing account data.

These products are capable of completely changing the way back-office operations function.

“BBVA Compass has made its way to the front of the financial industry’s digital revolution on the strength of its technology and its vision, which these products represent,” said BBVA Compass Director of Multi-Channel Development Gabriel Palafox. “BBVA Compass is the first U.S. bank to offer true real-time Positive Pay fraud prevention and ARP reconciliation. These products are capable of completely changing the way back-office operations function.”

BBVA Compass RealTime Positive Pay™ verifies checks and ACH transactions as they are presented for payment, giving customers information about exceptions as they happen. Users can establish alerts to stay informed about account activity. A dashboard within the BBVA Compass net cash™ system provides an at-a-glance view of exceptions and allows customers to make pay or return decisions quickly and easily. The service also gives users up to 34 hours to make these exception decisions — a much longer window than the industry average of two hours.

BBVA Compass RealTime ARP™ provides an overview of check and electronic transaction activity as it happens in real time and automates the check reconciliation process. A customizable dashboard provides a consolidated view of items as they post to accounts. Reporting features allow users to create detailed reports using both the BBVA Compass net cash online platform and mobile app.

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