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    Launching new advanced machine learning capability to reduce payment frauds

    ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, announced the launch of its new Incremental Learning technology an innovative industry-first approach to machine learning that will enhance fraud protection for financial institutions and their customers.

    ACI has filed a patent application for its ‘Incremental Learning’ technology, which is being implemented in machine learning models within ACI’s fraud prevention solutions, including Proactive Risk Manager, which delivers enterprise fraud management capabilities for financial institutions and intermediaries.

    ACI’s ‘Incremental Learning’ technology represents a significant advancement over current machine learning models that need to be retrained as fraud patterns change. Incremental Learning models are able ‘to think for themselves’ and make small adjustments on an ongoing basis to ensure they remain relevant, even as fraudsters and genuine consumers change their behaviors.

    “Traditional machine learning models in many cases are not sufficient to stop fraudsters in their tracks. As fraudsters become more sophisticated, we need to continuously advance our models to beat them at their own game,” said Jimmy Hennessy, director of Data Science, ACI Worldwide. “Our global data science team has created a game-changing piece of machine learning technology that can be seamlessly integrated and future-proofs the precision and operational efficiency for over 5,000 institutions protected by our solutions today.”

    ACI has more than 20 years of experience in designing and implementing machine learning models, which have long been a fundamental element within Proactive Risk Manager. ACI’s machine learning models will quickly and efficiently analyze all available features and data points, which will then be turned into intelligence that can build customer profiles, spot fraud signals and combat emerging fraud threats. Any anomalies are flagged in real time and immediately actioned.

    “We are the first vendor globally to roll out the new Incremental Learning technology across the merchants, payments and financial services sectors,” commented Fabian Gloerfeld, head of Payments Intelligence, ACI Worldwide. “The new capability is a realization of ACI’s multi-year investments and will further enhance our sophisticated fraud monitoring and prevention solutions to help customers to dramatically reduce payments fraud.”

    For more information, visit www.aciworldwide.com

    ELE Times Research Deskhttps://www.eletimes.com
    ELE Times provides a comprehensive global coverage of Electronics, Technology and the Market. In addition to providing in depth articles, ELE Times attracts the industry’s largest, qualified and highly engaged audiences, who appreciate our timely, relevant content and popular formats. ELE Times helps you build awareness, drive traffic, communicate your offerings to right audience, generate leads and sell your products better.

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