Malone's Cost Plus saves $185,000 cashing checks with AllTrust

Malone's Cost Plus, a 7-store grocery chain serving the Hispanic community in Dallas, Texas, has saved more than $185,000 since installing AllTrust.

"The system has been great for business on multiple levels. After cashing their checks, buying money orders, and paying bills, customers are staying to buy our groceries. And that's great for business! AllTrust is a win for everyone!"Loss Control Director, Malone's Cost Plus

Background

Malone's Cost Plus is a family-owned business that has been serving the Dallas, Texas area for more than 30 years.

"Our customers have come to rely and depend upon our 'the more you buy, the more you save' philosophy," said Rhonda Malone-Davis, Loss Control Director for Malone's Cost Plus. Their customers also rely heavily on Malone's financial service centers. A popular service of these centers is payroll check cashing.

Previous system

Before AllTrust, Malone's used a commercial, state-wide check verification service for check cashing. "It worked for a while, but then the bad guys learned how to beat the system and we were left holding many bad checks worth a lot of money," reported Malone.

Solution

In 2002, Malone's started using AllTrust. "The system allows us to keep one step ahead of the bad guys who try to cash fraudulent checks and helps us give our trusted customers the service they deserve," said Malone.

Power of biometrics

AllTrust uses biometrics to accurately verify a person's identity and confirm their check cashing history using a nationwide negative check maker and check writer database. If someone with a negative check cashing history presents a check, the Malone's clerk can easily decline the transaction before the check is cashed, saving money that may have been lost to fraud.

Shared database

AllTrust allows Malone's Cost Plus to share customer information with all of its affiliated stores. Malone states, "Many of our customers travel throughout the city during the day. With AllTrust, our customers can be assured that no matter which store they visit, they will be able to get the great service they've come to rely on and easily cash their check."

Impact

On business

As of August 2004, Malone's Cost Plus has saved more than $185,000 since implementing AllTrust. The chain's check cashing business has more than doubled and that has helped to drive revenue on the retail side.

On customer satisfaction

Malone's customers, especially the many without checking accounts, like the system. Customers like the system for the convenience of not having to carry their ID and the ability to establish a good check cashing history. They're so pleased, they're telling friends and neighbors about the convenience. In fact, Malone's enrolls nearly 600 new people in AllTrust every month.