Bancaja selects ACI's Proactive Risk Manager to detect card fraud
08 May 2003 | 3673 views | 0
Spanish savings bank Bancaja has licensed ACI's Proactive Risk Manager software to detect and monitor debit and credit card fraud.
Bancaja will integrate version 6.1 of Proactive Risk Manager with its existing processing system. The software will be used to detect fraudulent debit card transactions initiated via ATMs and POS devices and to alert personnel of any suspicious activity.
The bank will use the rules-based version of the product, which compares details of each transaction with recorded patterns of behaviour for every cardholder and assesses the risk of each transaction using a variety of parameters and accumulated statistics, which it maintains and re-calculates in real time.
The software also includes a Web-enabled graphical user interface (GUI) that allows investigators to access the system through the Internet.
Mark Vipond, president of ACI Worldwide, says the software can help banks meet new government and card association regulations while also protecting their customers.