Advanced Fraud Solutions

What Advanced Fraud Solutions does

Advanced Fraud Solutions (AFS) is a privately held U.S. fintech that provides real-time deposit-fraud detection software to banks and credit unions, with a particular focus on community financial institutions. Founded in 2007 in High Point, North Carolina, by a consortium of community banks, the company operates a consortium-based fraud intelligence platform drawing on account-level data contributed by over 1,200 financial institutions, assessing more than $7M in payments risk monthly. Its product suite comprises five core offerings: TrueChecks (real-time check fraud detection), TrueACH (ACH fraud prevention with account validation), TrueWire (wire transfer verification), TrueAccount (account status verification), and Positive Pay by AFS (commercial account fraud protection). All products run on a shared consortium data backbone and integrate with 50+ core, RDC, teller, and payment network platforms including Jack Henry, Fiserv, COCC, IMM, Alogent, eDOC Innovations, Conveyance, Narmi, and Phixius by Nacha.

AFS generates revenue primarily through annual subscription contracts with transaction-volume-based pricing, sold via a direct enterprise sales motion and an OEM/embedded channel through core banking and check imaging vendors. Customers are U.S. community banks and credit unions of varying sizes, and the company maintains a SOC 2 Type 2 control framework. In October 2025, AFS introduced a proprietary AI layer that analyzes real transaction data and combines fraud-investigator and risk-manager expertise to detect sophisticated fraud schemes, applied across check image and structured transaction modalities. Distribution is heavily partnership-led: the company has announced or expanded collaborations with Phixius by Nacha (4th data responder), Cook Solutions Group, eDOC Innovations, Linker Finance, Alogent, IMM, Vertifi, Fiserv, Jack Henry, COCC, Jaguar Software, and others, embedding its solutions directly into existing banking technology ecosystems. The company has appeared on the Inc. 5000 list of fastest-growing private companies multiple times, most recently as an eighth-time honoree in 2025.

Name

Advanced Fraud Solutions

Legal name

Advanced Fraud Solutions

Website

https://advancedfraudsolutions.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Fraud Detection Software for Financial Institutions

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Security Systems Services (except Locksmiths) (561621)

SIC

Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Fraud Detection & Prevention (payments fraud, account takeover, scams) (FSAGAFAE)

akta.pro secondary industries

Fraud Detection & Transaction Monitoring (FSAMALAA), Payments Fraud & Chargeback Prevention (HDADALAE)

Keywords

• Check fraud detection
• ACH fraud prevention
• Wire fraud verification
• Consortium fraud intelligence
• Positive pay services

Headquarters

HQ city

High Point

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Fraud Detection Software Subscriptions: AFS provides deposit fraud detection software to financial institutions on a subscription basis. The solutions (TrueChecks, TrueACH, TrueWire, TrueAccount, Positive Pay) are offered as SaaS with per-transaction or subscription pricing based on transaction volume and institution size.
2. Transaction-Based Pricing: Pricing is based on transaction volume, with costs varying per query or per transaction processed through the fraud detection platform. This usage-based model aligns cost with fraud protection value delivered.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels10 records

Core offering

Advanced Fraud Solutions sells a SaaS-based deposit and payments fraud detection platform for banks and credit unions, comprising five core products (TrueChecks, TrueACH, TrueWire, TrueAccount, and Positive Pay by AFS). All solutions run on a consortium intelligence engine that combines real-time account-level data contributed by 1,200+ financial institutions with proprietary AI to detect counterfeit, duplicate, NSF, ACH, wire, and business-account fraud at the point of decision. The platform integrates with 50+ core, RDC, teller, and processor systems for seamless deployment within existing FI workflows.

Product overview

Advanced Fraud Solutions offers a unified platform of fraud prevention solutions for banks and credit unions, comprising five core products: TrueChecks (real-time check fraud detection), TrueACH (ACH fraud prevention with account validation), TrueWire (wire transfer verification), TrueAccount (account status verification), and Positive Pay by AFS (business account protection). All solutions leverage consortium-powered intelligence—account-level data contributed by over 1,200 financial institutions—to detect and prevent fraud across check, ACH, and wire transactions in real time. The platform integrates with 50+ core, RDC, and processor systems, enabling seamless deployment within existing financial institution workflows.

Differentiator

Problem solved

Functional benefit

Products and services

• TrueChecks Real-time check fraud detection solution for financial institutions that flags counterfeit, duplicate, closed-account, NSF, and other fraudulent items using account-level data from a consortium of thousands of financial institutions. Designed for tellers, back-office, and operations staff to make fast decisions at the point of deposit and prevent losses before they occur.
• TrueACH ACH fraud prevention solution that validates account status and ownership before origination, backed by consortium-sourced data. Helps financial institutions stop unauthorized or misrouted ACH transactions before funds leave the institution, supporting NACHA compliance and protecting operations and account-holder trust.
• TrueWire Wire transfer verification solution that lets financial institution teams verify account status and ownership before funds move, reducing the risk of fraud, error, or misdirection. Designed for high-value wires, it empowers staff to stop risky transfers in real time with insights drawn from real-world banking data.
• Positive Pay by AFS Business account fraud protection solution that gives financial institution teams visibility to spot red flags on checks, wires, and ACH tied to commercial accounts before fraudsters cash in. Uses real-time signals built from historical consortium data to arm front-line staff with decision support.
• TrueAccount Real-time account status and ownership verification solution that gives financial institution teams actionable insights from thousands of FIs, helping prevent fraud and protect institutional reputation before funds move. Built on consortium intelligence.
• AI-Powered Fraud Detection Proprietary AI capability launched in October 2025 that analyzes real transaction data from over 1,200 financial institutions to detect and prevent sophisticated fraud schemes across check, ACH, and wire channels. Combines anomaly detection with domain expertise from fraud investigators, risk managers, and tellers to identify emerging fraud patterns using fraudsters' own tactics. Underlies AFS's TrueChecks, TrueACH, TrueWire, TrueAccount, and Positive Pay offerings.

Quantifiable outcome

• 1,200+ financial institutions protected
• +6 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

AI capability4 records

Feature7 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Phixius by NachacoreTechnology or Integration · 30 March 2026AFS joined Phixius as the fourth data responder, expanding account validation coverage for Phixius participants. This strengthens coverage within the community bank and credit union ecosystems, enabling organizations to access additional validation endpoints without added integration complexity.
• eDOC InnovationscoreTechnology or Integration · 18 March 2026Partnership embeds AFS's consortium-based deposit fraud detection into eDOC's check imaging platform for credit unions. The integration allows credit unions to identify suspicious items earlier in the process, reduce manual review, and flag counterfeits, duplicates, and altered items before losses occur.
• Cook Solutions Group (CSG)coreTechnology or Integration · 20 January 2026Partnership with CSG connects AFS's consortium-based deposit fraud detection with Conveyance, CSG's serverless cloud check imaging solution for ATM and ITM deposits. The integration helps financial institutions screen deposits against real-time fraud intelligence as checks move through automated imaging workflows.
• AlogentcoreTechnology or Integration · 21 August 2018Strategic partnership providing real-time, omnichannel fraud solution combining AFS's TrueChecks with Alogent's ImagePoint Hub. The joint solution significantly reduced check fraud losses at participating credit unions.
• IMMcoreTechnology or Integration · 11 August 2015Expanded partnership integrating AFS's TrueChecks with IMM's Teller Item Capture solution. Provides real-time notification of potential fraudulent check transactions with Regulation CC recommended holds, enhanced duplicate detection, and access to additional fraud data sources.
• Linker FinancecoreStrategic or Co-development PartnerLinker Finance, a fintech infrastructure provider, partnered with AFS to embed fraud intelligence into digital banking for community banks. AFS's fraud prevention capabilities complement Linker Finance's ecosystem engagement and modernization efforts.
• Jaguar SoftwarecoreTechnology or IntegrationPartnership enables community financial institutions to access enterprise-level fraud protection through Jaguar Software integration, leveling the playing field for smaller institutions.
• SardineminorStrategic or Co-development PartnerFraud prevention partnership highlighted at ICBA Live, combining Sardine's fraud intelligence with AFS's solutions for enhanced digital banking protection.
• Vertifi SoftwarecoreTechnology or IntegrationIntegration partnership providing digital banking solutions with AFS fraud detection for credit unions. Vertifi specializes in mobile deposit technology and electronic document management.
• FiservcoreTechnology or IntegrationIntegration with Fiserv core banking platform enables AFS fraud detection to be available to Fiserv's extensive financial institution customer base.
• Jack HenrycoreTechnology or IntegrationIntegration with Jack Henry's core banking solutions for community and regional banks and credit unions, providing AFS fraud detection through the Jack Henry ecosystem.
• COCCcoreTechnology or IntegrationIntegration partnership with COCC, a core banking provider focused on community banks and credit unions, enabling AFS fraud detection through COCC's platform.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• NICE Actimize: NICE Actimize is a large incumbent in financial crime, AML, and fraud detection for banks and credit unions. It competes with AFS in enterprise-tier fraud and AML but offers a much broader portfolio spanning transaction monitoring, case management, and regulatory compliance.
• Bottomline Technologies: Bottomline offers fraud and financial crime management, including positive pay and payment fraud solutions for banks and corporates. It overlaps with AFS in positive pay, ACH, and wire fraud prevention.
• ACI Worldwide: ACI Worldwide offers payments fraud management and enterprise fraud prevention for FIs and processors. Its PROACTIVE Risk Manager competes with AFS in real-time fraud detection across payments channels, particularly for larger institutions.
• FICO: FICO's Falcon fraud platform and scoring products serve many of the same banks and credit unions as AFS. While FICO is a broad incumbent across consumer credit, its fraud-detection suite is a meaningful overlapping competitor in the FI channel.
• Brighterion (Mastercard): Brighterion, now part of Mastercard, offers AI-based real-time fraud detection and risk scoring used by banks and processors. It is a broad incumbent in transaction fraud and competes with AFS where Mastercard customers overlap with community FI segment.
• SAS Fraud Management: SAS provides enterprise fraud detection and AML analytics used by global banks. It is a broad incumbent competitor that overlaps with AFS in real-time transaction fraud analytics, though typically at larger enterprise customers.

Direct peers

• Verafin: Verafin provides fraud detection, AML, and anti-financial-crime software specifically targeted at banks and credit unions. It is the closest direct peer to AFS given its FI-centric positioning and consortium-style data approach (now owned by LexisNexis Risk Solutions).
• Early Warning Services: Early Warning operates the Zelle network and consortium-based account and identity verification services for U.S. FIs. Its account-validation and shared-data model directly overlaps AFS's consortium intelligence and Phixius data-responder activities.

Emerging players

• Featurespace: Featurespace provides adaptive behavioral analytics for fraud and risk management, primarily in card and payments fraud. It is an emerging player with overlapping AI-driven anomaly-detection capabilities relevant to AFS's evolving roadmap.
• Quantexa: Quantexa applies entity resolution and network analytics to financial crime, fraud, and AML. It is an emerging competitor in contextual fraud detection, with growing penetration into Tier 1 banks that often overlap AFS's larger-deal customer set.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/advanced-fraud-solutions
• Xx.com/AdvancedFraud
• Facebookfacebook.com/AdvancedFraudSolutions

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Advanced Fraud Solutions