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Westpac New Zealand Protects against Evolving Fraud Threats with Real Time Fraud Solution

Westpac NZ turns to ACI’s UP Payments Risk Management solution for adaptive machine learning and shared intelligence capabilities

Tuesday, October 24, 2017

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Naples, FLA – October 24, 2017 – ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that Westpac New Zealand are the first financial institution to benefit from the new technical capabilities of ACI’s UP Payments Risk Management solution.

Westpac New Zealand upgraded to the latest version of ACI’s UP Payments Risk Management solution, which, through adaptive machine learning, artificial intelligence and an unrivalled approach to shared intelligence, delivers powerful real-time fraud protection for banks and financial intermediaries around the world.

The scalable, high-processing transactional throughput delivers real-time machine learning decisions, which are capable of accurately identify emerging fraud trends before they impact Westpac NZ or its customers.

“With real-time payments being adopted across the world, it means that opportunities for fraud become more frequent, and the opportunities to recover those stolen funds become much fewer,” said Dawie Olivier, CIO, Westpac New Zealand. “In a world where payments are cleared in real-time, we have to be constantly on our toes; as such artificial intelligence, machine learning and pattern matching have become critical. By upgrading to the latest version of ACI’s risk management solution, we’ve not only boosted our capabilities, but also benefited from quick go-live time due to our existing implementation of ACI’s Universal Payments solutions.”

“Payments are becoming faster, and fraudsters are becoming more sophisticated, creating a ‘perfect storm’ in the marketplace. Westpac New Zealand have demonstrated their commitment to protecting their clients from the storm,” said Andreas Suma, vice president, ACI Worldwide. “Boosted by the new technical capabilities of the UP Payments Risk Management solution, Westpac NZ has the data and transaction visibility required, and the expert support needed, to uncover fraud quickly, reduce false positives and minimize losses at the same time as strengthening relationships with customers.”

Banks are now required to support more transactions across more channels faster than ever before, and are being challenged by an influx of innovative startups and razor-thin margins. ACI’s UP Payments Risk Management solution is designed specifically to address these challenges, combining rules with predictive analytics and neural network-based behavior profiling to enable institutions to thwart known attacks, while creating a baseline of normal behaviors to track anomalies and expose new, unknown potential indicators of compromise.


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About Westpac New Zealand

Westpac has been serving New Zealanders since 1861 and is today one of the New Zealand’s largest full service banks with more than 1.3 million customers. Westpac NZ provides a full range of retail and commercial financial services including home and business lending, funds management and treasury services. Westpac NZ employs more than 4,000 staff, and is committed to improving the social, environmental and economic wellbeing of all New Zealanders.

About ACI Worldwide

ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,100 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries, as well as thousands of global merchants, rely on ACI to execute $14 trillion each day in payments and securities. In addition, myriad organizations utilize our electronic bill presentment and payment services. Through our comprehensive suite of software solutions delivered on customers’ premises or through ACI’s private cloud, we provide real-time, immediate payments capabilities and enable the industry’s most complete omni-channel payments experience. To learn more about ACI, please visit You can also find us on Twitter @ACI_Worldwide.

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