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ACI Worldwide (NASDAQ: ACIW) is at the helm of fraud prevention innovation with its mission-critical payment software solutions that enable financial institutions, merchants and billers to process and manage digital payments while protecting customers from risks.
ACI is driven by the mission to shape the future of global payments through proven, scalable and secure solutions. The company is lauded for its work in AI, digital banking, eCommerce, financial crime prevention and fraud management, payment hubs and real-time payments.
“We enable clients to turn fraud detection and prevention into a competitive differentiator,” says Debbie Guerra, chief product officer of ACI. “Our solutions are born with scalability, reliability and serviceability at the core to deliver mission-critical payments for today’s and tomorrow’s needs.”
Pushing the Envelope With Fraud Orchestration
ACI understands the challenge billers, merchants and banks encounter in staying ahead of growing digital fraud while offering consumers a variety of payment options and delivery channels. Customers often lack fraud expertise in multiple geographies, which negatively impacts seamless and secure payments f low. By equipping them with AIpowered technology and bespoke fraud strategies fit for growth, ACI Fraud Management removes the complexity of dealing with digital payments fraud with a guarantee to reduce false positives, keep fraud rates low and maximize revenue.
To ensure industry-leading fraud prevention, ACI offers its fraud orchestration technology that unites the entire fraud ecosystem into one fraud operations center. ACI fraud orchestration is the only layer businesses need to deliver a holistic real-time fraud prevention operation that guarantees strong conversion, growth and cost reduction.
For merchants and billers, ACI fraud orchestration boosts efficiency and flexibility, enabling them to detect multiple signals from different sources in real time, utilize a centralized decisioning engine and leverage high-performing fraud prevention strategies for uninterrupted buying experiences at every touchpoint. Fraud orchestration can be optimized when fully integrated with the payments platform via a single API. It gives businesses an end-to-end, holistic view of the entire process to unlock greater conversion, reduce fraud and friction, and increase operational efficiency.
“We make connectivity to payments and fraud orchestration modular. Clients can design their own strategy and tech requirements or work with ACI experts to design — all via single API,” says Guerra.
One of ACI’s biggest strengths is the ability to deliver a strong set of fraud KPIs to its customers.
More Data Means Fewer Places to Hide
ACI fraud and payment strategies work in sync and are complementary to each other, enabling them to build a clearer picture of customer behaviors and preferences. This allows businesses to deliver seamless and secure payment experiences to consumers.
With enterprise-wide fraud management, financial institutions, including banks, can improve operational efficiencies, remove silos and increase collaboration. It is common for banks to have multiple teams, such as AML, card fraud, online fraud, wire fraud and internal fraud, to tackle different types of fraud and maintain compliance.
More data such as geolocation, device, biometrics and frequency of transaction is key to allowing banks to better increase their knowledge of what genuine behavior looks like across the business. This enables banks to seamlessly detect signals and access data from multiple channels and fight rising APP scams. With the right AI tools in place processing the right data, this can become a true differentiator for banks and their services.
ACI’s solutions are born with scalability, reliability, and serviceability at the core to deliver mission-critical payments for today’s and tomorrow’s needs
ACI leverages a powerful combination of data analysis and profiling, biometrics and advanced self-learning machine models, with patented incremental learning technology, that adapts to new fraud methods, a dedicated global payments optimization risk team for strategy support and an intuitive UI.
A Protective Shield for Thwarting Fraud
ACI stands out for its ability to service all parts of the payments value chain for customers across a global ecosystem. With a clear focus on optimizing payments for clients, the company delivers performance-led solutions that drive significant, market-leading results.
ACI’s solutions have been instrumental in driving success for many clients. The fashion retailer Mango partnered with ACI Worldwide to protect its customers and enter new markets while combating rising fraud rates. With ACI’s fraud management solution, Mango was able to boost acceptance rates to 97 percent and support safe launch into new, high-risk eCommerce geographies while maintaining low fraud levels.
For Swedbank, a Nordic-Baltic banking group based in Stockholm, ACI was able to turn compliance into a revenue driver across the enterprise.
They partnered with ACI to achieve strong customer authentication (SCA) exemptions with transaction risk analysis, including integrating directly into their access control server.
Modernization — ACI’s Recipe for Success
ACI is focused on investments in modernization for its customers to help them accelerate the digital transformation of payments. ACI is increasing its investment in real-time payments, sophisticated global merchants and a next-generation payments platform. The company invests a significant 11 percent of its revenues in R&D and has been designing and developing new payment methods and products in partnerships with global customers, governments and regulators for almost 50 years.
Award-Winning Solutions Crafted With Deep Expertise
ACI balances its solution portfolio and roadmap with driving innovation and responding to customer priorities. The company’s solutions are built with the flexibility to enable customers to tap into new capabilities on demand. In addition, ACI’s fraud management users play a key collaborative role in exchanging knowledge to combat fraud across the globe, empowering the community to stay a step ahead of new criminal trends.
“Technology is only as good as those that build it and manage it. Similarly, innovation is only as good as the results it brings,” Guerra says. Backed by an innovative data science team, ACI has earned many awards over the last few years, including the Emerging Technology Award at the Analytics Institute of Ireland 2022, Analytics & AI Awards and Best Application of AI and Rising Fintech Star, from Irish AI Awards 2021. The company recently won the MPE award for best fraud solution by pushing the envelope of fraud management innovations, such as its patented incremental learning technology. With an expert team of payment optimization specialists, data scientists, fraud consultants and solution consultants, ACI plans to remain at the forefront of facilitating real-time payments by protecting new products and services from fraud and fostering economic growth.
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Company
ACI Worldwide
Management
Tom Warsop, President and CEO
Description
ACI Worldwide (NASDAQ: ACIW), positions itself at the helm of fraud prevention innovation with its mission-critical payments software solutions that enable companies to process and manage digital payments while managing fraud and risk.
