 |
|
|
|
|
|
|
October 2009
Appeared in Banker Middle East, October edition 2009
Andrew Rochford, Business Solutions Consultant for the Middle East and Africa at ACI Worldwide, talks about how banks in the Middle East can use fraud-fighting technology to give their cardholders greater piece of mind.
Historically, levels of payment fraud within the Middle East have remained relatively stable, while other regions around the world have seen dramatic increases. However, recent discussions at the 10th Annual Cards Middle East conference suggested that credit card fraud in the Middle East is beginning to cause concern amongst banks in the region. Levels of skimming and counterfeiting of credit cards in particular have increased considerably.
September 2009
Appeared in Sibos Daily News, September 14, 2009
At this year’s Sibos, delegates are likely to be debating the fallout from the dramatic events that took place during last year’s event. But they’ll also be hoping for a much quieter week, writes Heather McKenzie
No prizes for guessing the main topic of debate at this year’s Sibos – the financial crisis and its ramifications will loom large over most discussions. But it has to be remembered that the credit crunch and economic slowdown were well under way last year as delegates gathered in Vienna. ‘Blue sky thinking’ was off the agenda, with financial institutions more focused on short-term solutions.
September 10, 2009
Appeared in Spectrum, September 10, 2009
Card fraud cost the UK more than £600 million in 2008 according to APACS, and the UK banking industry is actively seeking to combat the growing problem. The battle is even more vital now, as research from Datamonitor(1) reports that despite efforts to combat fraud, the global financial crisis could accelerate a wave of financial crime targeting banks. Making the right investments in fraud prevention while under pressure to cut costs and ensure maximum return on investment, however, presents a particular challenge for today’s fraud managers.
By Michelle Weatherhead, Risk Solutions Manager, ACI Worldwide
September 8, 2009
Appeared in American Banker, September 8, 2009
Its name makes it sound a bit like a game. But "man in the middle," as the swindle is known, is an example of a modern, cutting-edge form of theft that victimizes banks and their customers.
The crime begins when a bank customer enters his personal information on what appears to be his bank's Web site - but is actually a convincing copy fabricated to snare data. Having "phished" passwords and other key information, the criminals can then wire funds from the customer's checking account to their home country. Or they can use an automated clearing house transaction to send the money to the bank account of a fictitious business, and then withdraw it.
"It's all about getting in the door one way and getting the money out a second way," said David Nussenbaum, a vice president of global risk solutions at ACI Worldwide. "The individual transactions seem innocuous, but together they are a tip-off to fraud."
August 30, 2009
Appeared in The Columbus Dispatch (Ohio), August 30, 2009
At noon, you use your credit card to pay for gas at a station in Columbus. An hour later, your card has been used to buy a $1,500 computer -- at a store in Moscow.
Before the charge is approved, a sophisticated computer-monitoring system thousands of miles away raises a red flag, denies the charge and keeps you from becoming the victim of a crime -- all in a matter of seconds.
August 28, 2009
Appeared in Gulf News, August 28, 2009
Dubai: Scammers live off of the wages of honest people not just by using stolen credit cards alone. Fraudsters can go on a spending spree once they have your credit card details. No physical card is necessary.
Stealing information is no difficult task either. Fraudsters have become so brazen that they can do it offline, while you're using your card at a restaurant or shopping; and online, when you connect to the web.
August 3, 2009
Appeared in CRN, August 3, 2009
Chip technology expected to lower fraud rates over time.
A survey commissioned by ACI Worldwide has found that more than 15 percent of Australian credit and debit cardholders have been victims of bank card fraud in the past five years.
ACI Worldwide, a provider of application software for electronic payments, surveyed 2409 people globally, of which 310 responded from Australia.
July/August 2009
Appeared in Financial Sector Technology, July/August 2009
With the announcement that French banks are delaying the implementation of the Direct Debit scheme in the Single Euro Payments Area by a year, and continued uncertainty and national disagreements about the Payment Services Directive (PSD), which is supposed to provide the legal framework for SEPA, the grand European harmonisation project is hardly running like clockwork. Dave Adams investigates the troubles, how the jigsaw can be made to fit, and looks ahead to a time when European-wide payments provide far-sighted banks with economies-of-scale savings and more business.
July 2009
Published in Banking Technology, July 2009
For many years, fraud and anti-money laundering activities, where they existed, were separate functions for most banks, operating with different parameters and with little interaction.
Increasingly, though, global regulations on AML and the international nature of modern financial crime are pushing them together under one banner. In turn this is leading to calls for greater international collaboration
The widespread use of internet banking and the global travel industry mean that it is easy for the villains to skip between locations.
June 17, 2009
Published on Bank Systems & Technology, June 17, 2009
Solution runs on IBM System z platform; goal is holistic, enterprise-wide approach to managing risk.
Article by Katherine Burger
June 2009
Published in Cards and Payments, June 2009
ACI Worldwide has named a number of new executives to key positions: Louis Blatt, chief product officer (previously senior vice president of product strategy and business development at Computer Associates Inc.); David Nussenbaum, vice president of risk solutions (previously a director at TransUnion); both Bernard Delahaye, vice president of strategy planning (previously a director at First Data Corp.) and Mike Pottinger, vice president of services (previously services director for Europe at i2 Technologies Inc.), to oversee the Europe, Middle East and Africa regions; and both James Campbell-Grant, vice president of services (previously a services leader in the Asia and Pacific regions for IBM Corp.) and John Northwood, vice president of operations (previously a regional business developer for Computer Sciences Corp.), to oversee the Asia and Pacific regions.
June 2009
Appeared in International Payments, June 2009
How can financial institutions stay one step ahead of fraudsters? Michelle Weatherhead looks at the latest technologies and methods designed to stop fraudsters in their tracks.
Wednesday, May 28, 2009
Appeared on FT.com, 28 May 2009
The banking sector is waking up to a new age and many banks are reaching the conclusion that the road to future success lies in going back to basics.
This involves banks returning to their roots, which essentially means payments – indeed The Boston Consulting Group’s report “Weathering the Storm” of March this year says payments account for between a third and a half of most banks’ revenues.
Yet making money out of payments is no easy task. Revenue per transaction is decreasing while costs are increasing, primarily due to rules and regulations.
But one possible solution lies in increasing the number of payments that customers make. So how can this be achieved?
April 2009
Appeared in Electronic Payments International, April 2009
Over many decades, South Africa’s electronic payment system has evolved in tandem with those in developed economies and in many areas is equal to the best. The payments industry’s challenge is to now bring millions of cash-orientated South Africans into the electronic payments mainstream.
Thursday, April 30, 2009
Appeared on ComputerWorld, April 30, 2009
ASC X9 standards body launching encryption initiative with breached payment processor Heartland Payment Systems playing a big role
The same organization that led the development of security standards for payment-card magnetic stripe data and PIN-based transactions will soon begin work on a new specification for encrypting cardholder data while it is in transit between systems during the transaction process.
March, 2009
Appeared in Cards and Payments, March 2009
By: Kate Fitzgerald
The pressure on credit and debit card interchange builds as more alternative payment systems are introduced and lawmakers continue to eye rate regulation.
A fresh crop of alternative-payment systems seeking to bypass interchange and the prospect of renewed interchange-rate regulation could intensify the rising threat to U.S. card issuers' credit and debit card revenue.
Wednesday, March 4, 2009
Appeared in Banking Technology on March 4, 2009
First announced toward the end of Sibos 2008 in Vienna, Swift’s partnership with the reinsurance industry marks a further extension of the co-operative’s reach beyond the banking industry.
Monday, January 5, 2009
Appeared in Financial Services Technology on January 5, 2009
Nine years ago, the European Union set out a plan to create an internal market for financial services by 2010. The first steps towards turning the idea into reality included removing differences in costs of Eurozone cross-border card payments, ATM withdrawals and credit transfers to ensure that bank customers see no practical difference between domestic and cross-border transactions. As such, the concept of the Single Euro Payments Area started as a framework to benefit corporates and consumers but since those early days has morphed into an interbank framework that has been moulded primarily by the banks with little guidance from the European Central Bank, the European Commission or any other regulatory body.
By Paul Styles, business solutions manager, ACI Worldwide (EMEA) Ltd
Tuesday, December 9, 2008
Appeared on GTNews on December 9, 2008
Point of detection is a way to measure fraud that, if implemented across the board, could reduce fraudulent payments and reassure corporates and consumers.
United we stand and divided we fall. This is an ancient and oft-quoted phrase that the payment industry would do well to heed if it is to take the next step in the long, expensive and damaging war that is being fought against fraudsters. Put simply, the industry needs to not only find more ways to share information and experiences on fraud but to actually design new standards that will deliver a more cohesive frontline in the war against fraud.
By Dave Divitt, business solutions consultant, ACI Worldwide (EMEA) Ltd
Thursday, November 13, 2008
Appeared on americanbanker.com on November 13, 2008
The payment technology specialist ACI Worldwide says a transformation program initiated three years ago is paying off, as a growing number of banks are asking for help stitching together transaction systems that have long functioned independently.
The New York company is pushing the idea of a payment hub, which can handle several types of transactions, and Philip G. Heasley, its president and chief executive, said many financial companies are interested in his company's technology and advice.
ACI is transforming itself from a "product provider" to a "payments solution provider," Mr. Heasley said.
Friday, September 26, 2008
Appeared on FT.com on September 26, 2008
One year ago, the thought of a total loss of customer confidence in the stability of a major UK retail financial institution would have seemed laughable. Today, the thought of a similar collapse in trust caused by a systematic attack on a bank by highly skilled online fraudsters might seem equally risible. Yet as we have seen with Northern Rock, the unexpected can become real and to protect customer confidence, an intelligent, multi-layered approach to online security is essential.
By Jim Woodworth, head of business solutions, ACI Worldwide (EMEA) Ltd
Tuesday, September 9, 2008
Appeared in The Banker on September 9, 2008
Political intrigue and a lack of leadership might yet kill the European Commission’s vision of a Single Euro Payments Area.
The overarching goals of the Single Euro Payments Area (Sepa), the European Commission’s vision of a single European domain in which all payments are as efficient, timely and inexpensive as a traditional domestic transaction, have never been in doubt.
There is, however, a growing feeling among such parties that Sepa is becoming little more than a political initiative, driven by the needs of the EC as a power centre, not by the fiscal needs of the European single market.
Monday, September 8, 2008
Appeared in American Banker on September 8, 2008
The payments software company ACI Worldwide Inc. hopes to use a nine-month-old alliance with International Business Machines Corp. to modernize and streamline its offerings, an executive said.
For instance, ACI said last week it is now offering a version of its fraud detection system that has been optimized for the IBM Z series mainframe computer.
Tuesday, July 1, 2008
Appeared in The Banker on July 1, 2008
The UK faster payments initiative is expected to revolutionise the way consumers and companies do business, and yet it was launched in May with little fanfare. Charlie Corbett explores the impact of the new system and why the trumpets were muted.
Tuesday, April 1, 2008
Appeared in Banking Technology on April 1, 2008
Fraudsters are becoming increasingly adept at sharing invaluable knowledge and tips online that will help them steal more and more money from financial institutions and their customers. There are forums and social networking sites designed to share the information needed to undermine banks’ risk management systems. However, while fraudsters have been sharing information and growing their sizeable profits through activities such as phishing, money laundering and ultimately, in some cases, identity theft, financial institutions have failed to follow their example and take a more collaborative approach to fraud prevention and detection.
By Michelle Weatherhead, manager of risk solutions at ACI Worldwide (EMEA) Ltd
Thursday, March 27, 2008
Appeared in American Banker on March 27, 2008
The New York payment software provider ACI Worldwide Inc. said it has agreed to outsource some of its technology services to International Business Machines Corp.
IBM, of Armonk, N.Y., will supply ACI with mainframe management and other related services. ACI said the seven-year deal will save it $25 million to $30 million.
Tuesday, March 25, 2008
Appeared on GT News on March 25, 2008
The financial services industry is facing greater scrutiny from shareholders, customers and regulators as a result of the credit crunch, and the subsequent losses reported by the majority of the big financial institutions across Europe. What isn’t yet known is where the inevitable budget cuts will have the greatest impact. One area that has been under discussion in the press is banks’ investments in IT.
By Paul Styles, business solutions manager for wholesale banking, ACI Worldwide (EMEA) Ltd
Tuesday, January 1, 2008
Appeared in Bank Technology News in January 2008
IBM made an eight percent investment in transactions firm ACI Worldwide, which in turn is restructuring its payments platform to lay the groundwork for an open-systems payments solution. ACI will combine technology with IBM products, including System z mainframe, DB2 database, and Websphere middleware solutions.
|
|
|
|
|
|
|
