With 2003 revenues of US$204 million, global headquarters in Kansas and European headquarters in Budapest, Munich and London, Euronet Worldwide operates the largest independent pan-European ATM network and the largest shared ATM network in India. Euronet also develops and markets integrated non-branch retail delivery software, including ATM, POS and card management solutions, to financial institutions in more than 60 countries.

Euronet will be selling the Fractals fraud detection solution as a complementary software solution to its substantial installed customer base and using the system to attract new customers through its offices across the US, EMEA and Asia Pacific.

"This is excellent news for Alaric," says managing director, Mike Alford. "Since our launch in 1997, we have established a significant customer base in the UK, Europe and North America, including Switzerland's Corner Banca and Swisscard, CEKAB in Sweden, SITA in Montreal and several leading UK building societies.

"In addition to providing Euronet with the next generation of fraud detection system to sell into its extensive, installed base this deal also extends and strengthens Alaric's geographic coverage for future global sales of Fractals."

"As today's leader in fraud solutions, Alaric is a natural fit with Euronet's integrated transaction solutions," said David Morgan, Executive Vice President of Software Business Development. "Euronet continually evaluates the market and solutions to provide top quality products and complementary offerings to our customers."