ACI Worldwide, Inc. (NASDAQ: ACIW) has launched Fraud Scoring Service, an industry-first fraud scoring platform that provides financial institutions of all sizes with next-generation machine learning capabilities for real-time fraud detection and prevention. ACI assumes complete responsibility for choosing the right model for each client demand, as well as model monitoring and retraining as needed, as well as model governance.
Machine learning is critical as part of integrated fraud prevention operations in today's real-time world but developing, monitoring, and remaining current with machine learning tactics is a struggle for most firms. ACI's new managed service allows financial institutions of all sizes to gain access to innovative artificial intelligence capabilities at a fraction of the cost. It will make fraud prevention more accessible and assist in more successful fraud combat.
Furthermore, ACI Fraud Scoring Services (FSS) can help banks minimize fraud losses by up to 75% thanks to ACI's award-winning proprietary Incremental Learning technology. The service will first be available in North America and Europe, with ambitions to expand internationally in the coming months.
Additionally, ACI Fraud Management, ACI's award-winning enterprise fraud management and prevention solution, uses incremental learning technology. To assist banks in identifying and mitigating financial fraud, the solution includes advanced machine learning and behavioral biometrics capabilities, predictive analytics, professionally developed rules, and ACI's Network Intelligence Technology.