Global payment systems provider ACI Worldwide has rolled out its latest version of payments fraud detection and mitigation technology, Proactive Risk Manager, for financial institutions, processors and merchant retailers.
Equipped with behavioral modeling tools and performance testing capabilities, the new technology empowers financial institutions to improve fraud detection accuracy, reduce losses and customer attrition.
It has a new user interface (UI), which has been designed to lessen the learning curve for new users, improves operational efficiencies as well as reduces false positives to proactively stop fraudulent transactions.
ACI Worldwide fraud products senior vice president Mike Braatz said, "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."
Card fraud is rising globally with one-in-four respondents being victimized, a recent survey carried out by ACI revealed.
ACI Worldwide powers electronic payments and banking for more than 1,650 financial institutions, retailers and processors, while its software enables $12 trillion in payments each day.