ACI Worldwide and Infoglide team on retail returns fraud system

Source: ACI Worldwide

ACI Worldwide (NasdaqGS:ACIW), a leading international provider of software for electronic payment systems, today announced a partnership with Infoglide Software Corporation, a provider of identity resolution and analysis software, to offer enhanced returns authorization and employee screening solutions for the retail industry.

The companies have combined resources to provide enhancements around returns authorization, loss prevention intelligence, employee risk screening and "eFencing" intelligence.

ACI Retail Commerce Server offers powerful return authorization capabilities designed to reduce losses from fraudulent refund activity. The solution validates returns online by checking and tracking receipt information against sales history data and blacklists, providing protection that enables retailers to reduce losses from fraudulent or duplicate receipts.

Infoglide Software's Identity Resolution Engine (IRE) connects disparate data sources such as bad checks data, human resources records, incident management reports, and sales history and analyzes all of the attribute information relating to individuals or entities. IRE uncovers suspicious relationships and can detect patterns in the data that may indicate instances of organized retail crime. In addition, IRE can pre-emptively address risk by screening employees and potential employees for suspect behaviors and connections.

Combined, these solutions offer retailers improved returns fraud prevention and improved service for legitimate customers.

"IRE complements the returns authorization capability of Retail Commerce Server," said Mark Vipond, president of global products at ACI Worldwide. "A key benefit to the combined solution is the minimal data preparation required as the products enable retailers to address risk, fraud and audit anomalies using their existing data. Our companies have combined our resources to provide retail solutions for enhanced returns authorization, loss prevention intelligence, employee risk screening and eFencing intelligence. This functionality ultimately contributes to our customers' bottom line by reducing fraud losses."

"ACI offers proven products and a strong retail industry presence," said Douglas Wood, senior vice president of Infoglide Software. "This partnership allows a combined loss prevention offering that is unequaled in the industry."

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