ACI Worldwide Arms Financial Institutions to Fight Accelerating Fraud
Proactive Risk Manager Empowers Banks to Improve Fraud Detection Accuracy,
Reduce Losses and Customer Attrition
NAPLES, Fla. -- February 13, 2013
ACI Worldwide (NASDAQ: ACIW), a leading international provider of payment
systems, announced today the release of the newest version of ACI Proactive
Risk Manager™, the industry’s leading payments fraud detection and mitigation
solution for financial institutions, processors and merchant retailers. With
the explosive growth of transnational, organized fraud and identity theft,
Proactive Risk Manager empowers financial institutions to stay one step ahead
of financial criminals. This most recent version delivers enhanced behavioral
modeling tools and performance testing capabilities designed to strengthen
fraud detection accuracy and improve the customer experience.
In addition, Proactive Risk Manager puts more control in the hands of the
fraud manager through flexible configuration tools and a new user interface
(UI). This new interface is one of the many improvements which makes this
version both more powerful and easier to use. It also improves operational
efficiencies with a new user interface (UI) designed to reduce the learning
curve for new users while making the experience more intuitive for frequent
users. Ultimately, the solution delivers optimal customer service by reducing
false positives and helping to proactively stop fraudulent transactions.
“In order to remain a step ahead of an increasingly dangerous opponent, we
need to deliver to our customers a solution which combines accuracy and
usability,” said Mike Braatz, senior vice president, fraud products, ACI
Worldwide. “The newest version of ACI Proactive Risk Manager provides the
fraud mitigation solution the industry tells us they are seeking. It combines
precision with usability to ensure financial institutions, processors and
retailers are able address the fraud challenge with the strongest tool
available while also being easy for fraud teams to master.”
Proactive Risk Manager 8.1 offers the following new and enhanced features:
*Enhanced profiling – Financial institutions can utilize the enhanced
profiling feature to enable custom behavioral profiling for customers,
accounts, cards, terminals, merchants, employees and their peer groups
using any data element brought into the system from varying timelines.
This type of advanced behavioral profiling helps better target fraud
detection scenarios and lowers false positive ratios.
*Rule Tester – A new rule and analytics tester allows optional fraud
scenario testing prior to deployment. This gives fraud managers greater
flexibility in managing rules and analytics and provides a more
predictable outcome for new detection approaches, as well as insight into
potential customer impact.
*Screen Configuration Manager –Administrators are now able to more easily
configure the review screens for optimum efficiency. The enhanced
flexibility of the solution ensures fraud teams analyze the data in
formats most relevant and convenient for them.
*New user interface look and feel –The improved look and feel is designed
to make the UI more intuitive, thereby increasing the efficiency of
everyday users and reducing the learning curve for new and infrequent
“Financial institutions continue to face a fraud threat which is increasing in
complexity and scope,” said CEB TowerGroup research director Brian Riley. “The
best hope for all financial intuitions is to have a well-trained staff and
develop and arm them with proven industry solutions. Fraudsters will continue
to learn and evolve so it is critical that those required to manage the risk
be prepared with tools which are not only powerful and responsive, but which
also provide an ease of use which can be transferred to the next generation of
According to a recent ACI survey, card fraud is growing globally with
one-in-four respondents being victimized by fraud. Also, the nature of fraud
is changing. Of the 5100 survey participants, 56% of cardholders use cash or
an alternate form of payment instead of a debit or credit card after
experiencing fraud. In addition, post-fraud attrition rates average 21% among
cardholders in the 17 countries surveyed. This indicates that card holders
will use their card much less or perhaps stop using the card all together, and
financial institutions risk losing customers due to fraud.
About ACI Worldwide
ACI Worldwide powers electronic payments and banking for more than 1,650
financial institutions, retailers and processors around the world. ACI
software enables $12 trillion in payments each day, processing transactions
for 14 of the leading global retailers, and 24 of the world’s 25 largest
banks. Through our integrated suite of software products and hosted services,
we deliver a broad range of solutions for payments processing, card and
merchant management, online banking, mobile, branch and voice banking, fraud
detection, and trade finance. To learn more about ACI and the reasons why our
solutions are trusted globally, please visit www.aciworldwide.com. You can
also find us on www.paymentsinsights.comor on Twitter@ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2013.
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Rick Sheehy, 781-370-3643
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