The first of its kind, this easy-to-manage multiple-script management solution allows banks to automatically process card-holder change requests and unlimited parameter changes from risk, fraud and card management systems at the same time. As a result, this enables banks to increase control of credit and debit card-related risk.

Recently deployed by Aconite customers in the UK, Middle East and Europe, Release 3 was launched in response to a global customer assessment of current and future EMV requirements. Conducted over nine-months, the research revealed a clear business need for simple, consolidated EMV processes and back-end solutions to streamline and improve dynamic card control, reduce fraud and increase customer loyalty and profitability.

Previously, cost and complexity have been barriers to EMV adoption, however a recent report from Research and Markets says revenue losses through card fraud and customer churn now outweigh EMV investment. In the UK alone, banks are losing £400 million per year through card fraud and up to £1 billion per year through "interest rate wars" and retail transaction fees.

Aconite is responding to the highly competitive needs of its customers by providing a multi-pronged risk management solution, allowing banks to maximise credit lines by dynamically controlling cards and their behaviour after they have been issued. Built upon an existing solution, Release 3 provides a complete end-to-end EMV system that links card, risk and fraud management systems, back-office help desks and in branch service desks to deliver:

Enhanced performance – supporting high Transaction Per Second (TPS)requirements

Automated script management that seamlessly supports all back office systems

Multiple script trigger management

Uncomplicated design that enables easy implementation and add-on enhancement

Mike Woods, CEO at Aconite says: "More and more of our customers are recognising the need to monitor transactions through a multi-faceted EMV system, but at the same time, they want an affordable framework that delivers real return on investment.

"Aconite's new version of EMV Risk Manager affords a unique dimension for both credit and debit card issuers to better manage and control risk, providing an unprecedented level of control to fine-tune and manipulate card behaviour.

"In addition to initiating account management actions and making authorisation decisions, banks can enhance competitiveness by reducing the cost of referrals, collections and write-offs. Through risk control, credit lines can be increased and bad debt reduced, resulting in dramatic cost and revenue improvements for issuers."

Mike concludes: "Cards can also be issued to new higher risk customers, who can create new revenue potential."