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How Is ACI Worldwide Combatting the APP Fraud Problem? | ACI Worldwide
Fraud prevention is evolving fast, and Authorized Push Payment (APP) scams are at the center of it. In a recent discussion, Cleber Martins, Head of Payments Intelligence and Risk Solutions at ACI Worldwide, with over 24 years of payments and fraud expertise, discusses how ACI Worldwide as an organization is committed to combating APP fraud on a global scale.
ACI Worldwide is the leading provider of real-time payments, a recognised partner to leading financial institutions as well as being a key player in the global payments ecosystem.
Regulatory compliance differs from country to country, and while artificial intelligence (AI) has been used as a tool by fraudsters, ACI Worldwide is working hard to empower global fraud intelligence exchange by using a new generation of multi-layered responsible tools embedded with AI to deliver precise and real-time decision-making, enabling users and financial institutions to identify fraud efficiently.
Investing in the right technology is essential, and collaboration is equally vital in the fight against fraudsters. The newest generation of AI is built for purpose, and addresses all data privacy concerns and enabling intelligence exchange at a machine learning level, enabling peers to learn “together” in real time and act against threats.
ACI emphasises that its approach to APP fraud is multi-layered, which includes using cutting-edge technology as well as educating both financial institutions and consumers about the financial and emotional impact of fraud and prioritizing the customer experience. This approach continues to attract financial institutions across the globe that need ACI Worldwide’s expert guidance and effective solutions to tackle APP fraud.
ACI Worldwide is already assisting banks globally in adapting to regulatory changes while leveraging data and technology and implementing cross-bank fraud detection via collaborations and partnerships.
Be sure to download the Scamscope report today to understand the trends, get the latest figures, and get tooled up.
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