ACI Worldwide, the global leader in 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
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
