"Many issuers and processors are finding that the constraints of their current PIN handling processes will not allow them to cut costs and mitigate the fraud risks inherent in these operations." said Patrick Regester, EVP Sales & Marketing at Aconite. "These same organizations are also facing increasing customer demand for access to PIN services using mobile and internet channels."

Aconite PIN Manager (APM) unifies the generation, distribution and authentication of PINs across multiple card management systems and over diverse channels. APM supports traditional PIN distribution via PIN mailers but importantly also enables innovative and very significant cost-savings, estimated at 25% or greater, through the elimination of traditional mail, replacing this with secure distribution via SMS, IVR, internet banking or a combination of these channels.

"APM has been architected from the ground up to meet the needs of issuers and processors for a feature-rich but flexible solution that integrates easily with both existing card management and transaction processing systems as well as new online services," added Regester. "There is a need to provide a unified solution with common standards and procedures to ensure consistent and secure handling of PINs."

APM manages PINs for both magnetic stripe and EMV chip cards, where control of Offline PIN change and reset via EMV Scripting is integrated. APM can also be used to administer other digital credentials such as biometrics across multiple smart products, including mobiles. The most recent organization to license the APM product is a leading financial services processor in Europe with more than 10 million cards issued.