Payments technology vendor ACI Worldwide has signed Setefi, the card processing business of Italian banking group Intesa, to its anti-money laundering and fraud detection software, Proactive Risk Manager.
Setefi will use the ACI system to detect credit, debit and merchant fraud across 140,000 POS terminals and four million cards.
ACI says its rules-based software, which will be used in conjunction with the processor's in-house fraud platform, will help Setefi minimise losses and exposure to risk and ensure compliance with national and international fraud reduction mandates. The system will enable earlier detection of attempted fraud by sending alerts in near-real time.
Gianfranco Botti, general manager of ACI Worldwide Italia, says Setefi is the fourth italian firm to license the Proactive Risk Manager product in the last 12 months. Italian card payments processors SSB Group and Seceti along with First Data Italia have also implemented the package.