ACI is an electronic payment and banking solutions provider headquartered in Florida, US. With this new agreement, Three UK will enhance its online fraud management and prevention capabilities by leveraging ACI’s fraud management offering ReD Shield, which is part of ACI’s UP Payments Risk Management solution.
“The current crisis is likely to lead to a long-term behavioral change with millions of consumers opting for the convenience of shopping online instead of at brick-and-mortar shops. However, this change also presents new opportunities for fraudsters, and merchants could be hit by a tidal wave of new fraud cases if they do not act. To protect transactions in the eCommerce space, a sophisticated fraud monitoring and prevention solution is crucial,” said Andrew Quartermaine, vice president, ACI Worldwide.
ACI’s ReD Shield is expected to offer Three UK a multi-layered fraud strategy that uses a combination of consortium intelligence, profiling, machine learning and rules, to enable merchants separate legitimate customers from fraudsters.
“Our work with ACI Worldwide has enabled us to navigate the evolving and increasingly complex fraud market so we can better protect our business. We’re pleased to extend our relationship with ACI, collaboratively working to maintain the highest standards in security and fraud protection across our online platforms,” said Martyn Cokayne, head of fraud risk, Three UK.
In line with response to the accelerated fraud risks, ACI Worldwide also announced about a week ago, that ACI Proactive Risk Manager and ACI Model Generator, which are part of ACI’s Payments Risk Management solution, can now be deployed in a private or public cloud environment by all its existing customers globally. These cloud offerings are made available through ACI’s global collaboration with Microsoft Azure and the Microsoft Partner Network which was launched last year.