ACI Worldwide Launches Innovative ACI Fraud Scoring for Financial Institutions

Rhea-AI Summary

ACI Worldwide has launched an industry-first Fraud Scoring Services platform using its patented Incremental Learning Technology. This platform allows financial institutions to reduce fraud losses by up to 75%. Initially available in North America and Europe, it will expand globally. The service offers enhanced machine learning capabilities, improving operational efficiency and fraud detection while reducing costs. ACI's technology adapts continuously to changing fraud patterns, providing real-time solutions for financial institutions.

Positive

• Launch of Fraud Scoring Services potentially reduces fraud losses by up to 75%.
• Patented Incremental Learning Technology improves machine learning model efficiency 5X longer.
• Service is accessible through ACI's Public Cloud via Microsoft Azure, enhancing real-time decision-making.

Negative

• None.

• Industry-First Fraud-Scoring Platform Uses ACI’s Patented Incremental Learning Technology, Enabling Banks to Reduce Fraud Losses by up to 75 Percent
• New Service Is Available via the Public Cloud to FIs in North America and Europe

MIAMI & LONDON--(BUSINESS WIRE)-- ACI Worldwide (NASDAQ: ACIW), the global leader in mission-critical, real-time payments software, today announced the launch of Fraud Scoring Services—an industry-first fraud scoring platform delivering next-generation machine learning capabilities for financial institutions of all sizes to deliver real-time fraud detection and prevention.

Underpinned by ACI’s award-winning patented Incremental Learning technology, ACI Fraud Scoring Services (FSS) can enable banks to reduce fraud losses by up to 75 percent. The service is being rolled out in North America and Europe first, with plans to expand globally in the coming months.

“We are excited to launch Fraud Scoring Services as part of ACI’s layered approach to machine learning,” said Cleber Martins, head of Payments Intelligence and Risk Solutions, ACI Worldwide. “In today’s real-time environment, machine learning is crucial as part of an effective fraud prevention operation, but developing, managing and staying up-to-date with machine learning strategies is a challenge for most businesses. ACI’s new managed service enables financial institutions of all sizes to access state-of-the-art artificial intelligence capabilities for a fraction of the cost, making fraud prevention more inclusive and helping to combat fraud more effectively.”

Key Advantages and Benefits of ACI Fraud Scoring Services:

• Offers complex machine learning capabilities based on ACI’s incremental learning capabilities, improving operational efficiency, increasing fraud detection, and reducing costs
• Patented technology solves machine learning model degradation, retaining efficiency 5X longer than traditional models
• ACI takes on full responsibility for selecting the best model(s) for each customer need, monitoring, and retraining of models as needed, including model governance
• Off-the-shelf model library and shared intelligence available for quick on-boarding and immediate results protecting—from day one—include new payment methods, channels, segments.
• Connected through APIs and offered through ACI’s Public Cloud Environment via Microsoft Azure—minimum latency to be used for real-time decisioning

Incremental learning technology is an integral part of ACI Fraud Management, ACI’s award-winning enterprise fraud management and prevention solution. The solution offers advanced machine learning and behavioral biometrics capabilities, predictive analytics, expertly defined rules, and ACI’s Network Intelligence Technology to help banks identify and mitigate financial crime.

Incremental learning considerably enhances fraud protection for merchants and financial institutions. While traditional machine learning models need to be ‘retrained’ as fraud patterns change, models using incremental learning make small adjustments on an ongoing basis, allowing the model to adapt itself in production when new behaviors are observed.

About ACI Worldwide
ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintechs and financial disruptors to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.

© Copyright ACI Worldwide, Inc. 2022
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220309005042/en/

Media

Dan Ring

dan.ring@aciworldwide.com

Katrin Boettger

katrin.boettger@aciworldwide.com

Source: ACI Worldwide, Inc.

FAQ

What is ACI Worldwide's new Fraud Scoring Services?

ACI Worldwide's Fraud Scoring Services is an industry-first platform that uses machine learning to detect and prevent fraud in real-time, enabling banks to reduce fraud losses by up to 75%.

When will ACI's Fraud Scoring Services be available?

The service is currently rolling out in North America and Europe, with plans for global expansion in the coming months.

How does ACI's Incremental Learning Technology work?

Incremental Learning Technology allows fraud detection models to adapt continuously, improving efficiency and effectiveness without needing retraining as fraud patterns change.

What are the benefits of using ACI Fraud Scoring Services?

Benefits include reduced fraud losses, improved operational efficiency, and real-time fraud detection, all while minimizing costs for financial institutions.

In which regions is ACI's Fraud Scoring Services available?

Currently, ACI's Fraud Scoring Services is available in North America and Europe.