ANAHEIM, CA. - May 9, 2001, BlueGate, Inc. The spotlight of recent bank failure due to poor management of an ISO portfolio has caused reclusive BlueGate, Inc. to release a custom solution to monitor and report merchant accounts being activated by ISO groups. This function performs a major and essential fiduciary check and balance for banking officers not typically involved in this area of back office banking.
The solution allows validation of merchant addresses and mailing addresses, alerts when phone numbers are suspect cell phone numbers, duplicate checking accounts, duplicate addresses, and duplicate owner identities within the entire portfolio as entered. The software solution has reporting capabilities to enhance compliance with inside and outside auditing firms. While developed for a proprietary banking application, software developers within the company indicate this same technology could have been used in the last Presidential election to quash a myriad of similar problems.
Although the BlueGate Solution has been directed towards First Data Resources as the back end processor, this customized version is available for use with many processors. Many of the automated procedures of First Data Resources have been removed to facilitate the use regardless of the Acquirers’ terminal driver or back end processing.
Until July 1, 2001, BlueGate, Inc. is offering setup in 30 days, for $30,000 for the ISO Monitoring Module of their program. An impartial audit is included, at no additional charge, of the procedures used by the acquirer. This audit can be used to assist compliance with credit card companies with regard to their rules and regulations as well as lower the acquirers’ risk of loss exposure. The audit is normally an additional $5,000 and up depending upon the size and number of locations.
BlueGate, Inc. www.bluegate.to concentrates within the Credit Card Processing Arena, including terminal driving, Internet processing, single point of entry programs for merchant application processing, and reporting. BlueGate has partnered with Microbilt, Inc. for online credit reporting at the click of a mouse.
Many bankers have confidentially indicated that as the maturity of on-line crime increases, they need this additional resource to comply with their fiduciary responsibility.
Contact:
BlueGate, Inc.
Karen Naberhaus
702/528-7463
KAREN@BLUEGATE.TO
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