Business
ACI Worldwide Protects More Than One Billion Consumers Globally from Fraud in the Era of Open Banking and Real-Time Payments
COVID 19 has accelerated global shift to real-time and digital payments, creating radically different fraud landscape ACI’s Enterprise Fraud Management
About this update from Aci Worldwide, Inc.
[{"type":"text","content":"\n\nCOVID 19 has accelerated global shift to real-time and digital payments, creating radically different fraud landscape\n\n\nACI’s Enterprise Fraud Management solution is increasingly used by financial institutions worldwide – with a 33 percent increase in consumers protected just over the last two years\n\n\n MIAMI--(BUSINESS WIRE)--\nACI Worldwide, a leading global provider of real-time digital payment software solutions, today announced that it protects more than one billion consumers globally from new and emerging threats in the era of real-time payments and open banking through its award-winning ACI Fraud Management solution.\n\nWhile the pandemic has accelerated the global shift toward real-time and digital payments, it has also accelerated the creation of digital accounts– including new accounts from the previously unbanked population. ACI saw an increase – of 33 percent – in consumer digital accounts in just over the last two years. In addition, the transactional volumes being protected by ACI have more than doubled since 2019 as financial institutions worldwide continue to battle new and emerging threats, including identity fraud, internal fraud, account takeover and a rising number of other illegal activities across all channels.\n\nACI Fraud Management delivers enterprise fraud prevention capabilities that are crucial to successfully protecting customers in today’s fraud environment. The solution offers advanced machine learning as well as behavioral biometrics capabilities, predictive analytics and expertly defined rules—helping banks identify and mitigate financial crime. It includes the ACI Model Generator, which enables business users to create and maintain their own predictive machine learning models within minutes. In addition, it offers a wide range of sophisticated capabilities in the areas of Know Your Customer (KYC) and Anti-Money Laundering (AML). ACI’s unique network intelligence approach delivers an industry, regional, and market-wide view of emerging threats.\n\n“We hit an important milestone with the protection of one billion consumers, but the key is providing our customers with the immediate protection they need and staying several steps ahead of fraudsters looking to exploit consumers in the vulnerable situation created by the pandemic. Running one cost-effective, scalable enterprise solution is th...