NymCard partners with ACI Worldwide to combat financial fraud
By Delisha Fernandes
ACI Worldwide, a real-time payment solutions provider, has announced that Nymcard, a card issuer in the Middle East and Africa (MENA), have joined forces to combat fraud and financial crime.
Through this collaboration, Nymcard has deployed ACI Fraud Management via ACI’s public cloud environment across several markets in MENA. It is also using ACI’s anti-money laundering module to implement strong strategies for risk management across domestic and cross-border payments, allowing the company to report and manage suspected financial crime in line with regulations and global sanctions.
“In today’s real-time environment, new emerging fraud threats are putting increasing pressure on banks and financial institutions. ACI’s award-winning enterprise fraud management and analytics solution enables all payment service providers to mitigate risks and combat fraud quickly and efficiently,” said Cleber Martins, head of payments intelligence, ACI Worldwide. “Combined with the deployment via the public cloud, this creates a unique value proposition, bringing a globally recognized fraud solution to institutions that previously did not have access to the most advanced fraud prevention and analytics solutions.”
ACI Fraud Management delivers real-time enterprise fraud management capabilities, including advanced machine learning, predictive analytics and expertly defined rules, that allow Nymcard to quickly identify and mitigate financial fraud within a single comprehensive solution. In addition, ACI’s model generator functionality facilitates Nymcard to create and maintain predictive machine learning models within minutes.
“Our ongoing strategy is to enable our clients with the best-in-class solutions and services. We do not compromise on the quality standards and are delighted to partner with ACI, whose commitment matches ours to protect our customers using one the most sophisticated fraud management solutions in the market,” said Omar Onsi, founder and CEO, Nymcard. “The deployment of the solution on the cloud offers several key advantages: It allowed us to go live in record time, can be scaled up or down depending on transaction volumes, and above all, it is secure.”
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