MINNEAPOLIS, MN AND CHICAGO, IL - September 17, 2014 - SWACHA Services Corporation (SSC) announced today a partnership with Minneapolis-based Argos Risk to promote online tools that assist financial institutions in mitigating fraud risk through use of reporting tools and risk analytics. Dallas-based SWACHA Services Corporation is a for-profit, wholly owned subsidiary of SWACHA, one of the largest not-for-profit electronic payments associations in the country.
“Partnering with Argos Risk allows us to offer a superior service to our clients and members that are dedicated to managing credit risk,” said Dennis Simmons, CEO of SWACHA and a Director of SWACHA Services Corporation. “In today’s economy, we believe it is essential that financial institutions take measures in assessing risks associated with any business relationship in order to prevent potential damage to the institution or as customers.”
Argos Risk offers fully-hosted software solutions that enable financial institutions to proactively manage credit risk and protect against business identity fraud. Argos Risk offers two products for businesses to utilize, Argos Risk Online and Argos Risk Defender.
Argos Risk’s flagship product, Argos Risk Online, launched in 2010 is a credit risk management software solution that allows financial institutions to monitor the financial health of business relationships in real-time. It provides information that enables subscribers to monitor customers, vendor prospects and potential business sectors in order to manage credit risk to determine the safety of the potential relationship.
In comparison, Argos Risk Defender is a business identity monitoring software that monitors critical accounts for subscribers to aid in protecting themselves against fraud. In the instance of a breach, subscribers are assigned a professional certified recovery agent that will help the business restore its finances and reputation to its pre-event status and will also provide full remediation service for up to 100,000 breached records.
“SWACHA is an Argos Risk customer utilizing their products to manage our vendor management program,” said Laura Steele, AAP, president and COO of SWACHA. “Because of the success we have shown reducing our risks with these products, we are excited that SWACHA Services Corporation has joined forces with Argos Risk to offer them to a broader audience.”
“Argos Risk is honored to be a partner of SWACHA Services,” said Lori Frank, CEO and president of Argos Risk. “Through our innovative ACH Risk Management technology solutions the financial industry will learn a new way to identify risk and better manage their payments portfolios. It’s all about training and education, and like SWACHA Services, Argos Risk will be an impactful resource.
About SWACHA Services Corporation
SWACHA Services Corporation (SSC) is a for-profit, wholly-owned subsidiary of the SWACHAThe Electronic Payments Resource®. SSC provides a wide range of professional services to community banks, credit unions and other financial intuitions in the electronic payments industry outside of those traditionally offered through SWACHA membership. For more information, visit www.swachaservices.com.
SWACHA-The Electronic Payments Resource®, is one of the largest not-for-profit regional payments associations in the country with approximately 1,000 members across the Southwest. SWACHA is the resource of choice for financial institutions and corporations in the areas of education, training, payments system risks and knowledge about electronic payments. For more information visit: Web: www.swacha.org Facebook: www.facebook.com/bringingpaymentstogether Twitter: @SWACHA
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