Educational Employees Credit Union Selects
Memento Security for Enterprise Fraud
Management
Accurate Analytics, Innovative Data Management, and Speed Cited as Key Factors in the Selection Process
June 15, 2010 12:12 PM Eastern Daylight Time
BURLINGTON, Mass.--(EON: Enhanced Online News)--Memento Inc., a leader in enterprise fraud management
solutions for financial institutions, today announced that Educational Employees Credit Union (EECU) has selected
Memento Security™ as its enterprise-wide platform to fight fraud and other financial crimes. After a thorough
evaluation process, EECU chose the Memento platform for its advanced analytics, ease of deployment, and ability
to detect a wide range of fraud types.
During the selection process, Memento and EECU collaborated on a successful proof of concept using actual
transaction and reference data. The evaluation demonstrated Memento’s ability to accurately detect fraud,
substantially reduce false positives relative to existing methods, and enable analysts to quickly and efficiently research
alerts and disposition potential fraud cases. EECU will use Memento Security to address a broad array of cross-
channel fraud challenges including Check Fraud (On-Us, Deposit and Kiting), Case Management, and AML/BSA
Compliance.
An Innovative Approach to Fraud Detection
“We had been searching for an advanced software solution to combat the risk of cross-channel fraud and identify
potential money laundering schemes across the enterprise. With Memento, we found a partner capable of meeting
those business objectives, and with their flexible data management platform, we envision leveraging our investment in
Memento to help manage multiple risks inherent throughout our organization,” said Dick Ashjian, SVP Risk
Management. “The proof of concept helped us discover that other processes, such as our plastic card disputes and
lending, could also eventually benefit from the flexibility and speed of the Memento solution.”
“We are excited about the opportuni