Positive Pay is currently the most effective tool for fraud detection. With this service:
Positive Pay Plus with Payee Verification
Positive Pay with Payee Verification builds on our basic positive pay service by adding a verification of the payee name. Payee information is included in your issue file with your other check issue information, and transmitted to the Northern Trust as checks are issued. Using OCR/ICR technology, we will "read" the payee name on the face of your checks that are presented for payment. Any item that does not match your issue information will be referred for a pay or return decision.
Scott is a Senior Vice President at Northern Trust Company and is responsible for managing Northern’s Treasury Services Consulting division. The Treasury Consulting Division provides Northern Trust clients with assistance in evaluating their existing cash management structure, support in analyzing and implementing treasury management solutions designed to optimize cash flow and streamline payment and financial operations, as well as advice regarding payment industry trends and best practices.
Scott joined Northern Trust in 2003 and has twenty-five years of banking industry experience, including more than ten years in the treasury management services field. Prior to joining Northern Trust he worked for National City Bank and predecessor organizations of J.P. Morgan Chase in several different capacities, including treasury management sales, procurement card product sales, corporate banking relationship management, asset-based lending, and asset-backed securities underwriting.
Scott has a Bachelor of Arts degree from Coe College in Cedar Rapids, Iowa and an MBA degree from DePaul University in Chicago. He is a member of the Association for Financial Professionals (AFP), and was a member of AFP’s working committee that created the first standard RFP for purchasing cards in 1998. He earned the Certified Cash Manager (CCM) designation in 2000, and currently holds AFP’s Certified Treasury Professional (CTP) designation.
Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. Incorporated with limited liability in the U.S. Products and services provided by subsidiaries of Northern Trust Corporation may vary in different markets and are offered in accordance with local regulation. For more information, read our legal and regulatory information about individual market offices.
This material is directed to professional clients only and is not intended for retail clients. For Asia-Pacific markets, it is directed to institutional investors, expert investors and professional investors only and should not be relied upon by retail investors.