ACI launches ATM deposit automation technology; ships card dispute management system

Source: ACI Worldwide

ACI Worldwide (Nasdaq: ACIW), a leading international provider of solutions for enterprise electronic payment systems, today announced a new solution designed to support deposit automation requirements for domestic financial institutions.

As technology at the ATM advances, and interest grows among financial institutions, consumers and small businesses for more efficient deposit and check automation processes, ACI's solution represents a timely answer. ACI's BASE24-atm self-service banking modules and BASE24-infobase solution combine to offer financial institutions the features necessary to facilitate enhanced deposit automation offerings, lowering costs while providing new revenue sources for ATM deployers.

Key industry drivers include requirements to comply with Check21, increased consumer acceptance and renewed investment in deposit automation technology. Check21 in particular has generated renewed interest in streamlining back-office processes. A recent United States Federal Reserve and Electronic Check Clearing House Organisation study found that Check21 volumes (substitute checks and image exchange) grew 726 percent in 2006.

"ACI continues to offer flexible and innovative solutions to financial institutions to allow them to optimise their ATM service offerings," said Jeffrey Hale, senior vice president of Americas marketing and business development at ACI. "This new solution allows ACI's customers to leverage their investment by providing the incremental capabilities they need to deploy new deposit automation services and strategies. This will allow them to take advantage of the latest ATM technologies, improve their customer offering and ensure they meet industry compliance requirements."

The BASE24-atm self-service banking modules offer enhanced features including support for new ATM deposit automation capabilities, such as envelope-less check and cash deposits, MICR processing support to enable check imaging, enhanced teller capabilities to assist and perform transactions on behalf of cardholders at the ATM, and more. BASE24-infobase automates the transferring and processing of check images captured at the ATM to bank image archive and retrieval systems, eliminating the costs assoccciated with managing ATM devices through multiple single-purpose systems.

Hale said, "As financial institutions develop their business cases for deposit automation and work to achieve Check21 compliance, this solution will help them implement the necessary infrastructure in a flexible, cost-effective way."

Separately, ACI Worldwide (NasdaqGS:ACIW), a leading international provider of solutions for enterprise electronic payment systems, today announced the ACI Dispute Management System.

The software is a powerful rules-based solution that automates the resolution of cardholder disputes and processing of chargebacks to help control processing costs and enhance efficiency in back-office operations. The solution enables card issuing and transaction acquiring institutions to automate tasks associated with dispute processing, guiding staff through the tasks that require human intervention to increase productivity and reduce training time while controlling exposure to losses due to write-offs and un-timely dispute handling.

Disputes and chargeback processing continue to be a labor intensive and costly exercise for most institutions in the card services arena. Despite card association initiatives to streamline and simplify the process, it remains an area encumbered by multiple, disparate systems and low productivity, and is highly error-prone. The profitability of a card portfolio is impacted by write-offs due to human error and mismanagement, and customer focus is often lost in the process, resulting in customer attrition.

As an integrated solution, the ACI Dispute Management System offers the benefits of automated workflow, task automation and rules management tailored to meet the international card association operating regulations for disputed transaction resolution. The solution provides visibility to disputes at any stage during the lifecycle and enables the identification of repetitive cardholder disputes, multiple transactions associated with a cardholder dispute, and multiple transactions associated with a specific dispute arising from a particular fraud attack.

The Dispute Management System is unique in the marketplace in its singular focus on case management. Exception and dispute processing are based on electronic folders that represent individual customer cases. Multiple disputed transactions and the associated processing can be combined in each case, providing queue management via parameterized processes.

The Dispute Management System enables customers to generate comprehensive audit trails, which is particularly important given the fact that payment disputes may be subject to governmental and internal audits. Financial adjustments are made automatically via integration with an organization's internal general ledger system. Finally, the solution stores all due dates and required customer notifications to maintain a complete historical file on each case.

"Historically many of our customers have written off a large volume of disputed transactions as it has been unprofitable to pursue them," said Jeff Hale, senior vice president Americas marketing and business development at ACI. "Existing dispute management systems often require duplication of expensive services and do not enable banks to build up customer and merchant cases for multiple transactions. In contrast, the Dispute Management System enables financial service providers to offer a better service to customers while realizing significant savings.

"In addition, industry migration to EMV in international markets and the associated liability shift has resulted in a surge of dispute and chargeback activity," said Hale. "This trend, combined with confusion in understanding the new rules and application of EMV data in the transaction, is putting further pressure on those responsible for managing customer disputes. In this type of environment, our solution can help financial institutions successfully and profitably resolve customer disputes."

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