- ACI Worldwide (NASDAQ:ACIW) has joined forces with Swedbank, one of the leading issuing and acquiring banks in the Nordic and Baltic regions.
- The bank partnered with ACI to enhance its fraud platform with the help of ACI Fraud Management and has transitioned from a rules-based to a holistic fraud management approach.
- “Utilizing ACI Fraud Management has allowed us to move from single transaction monitoring to customer behavior monitoring, a strategy that helps us to quickly identify low-risk transactions and exempt them from SCA’s two-factor authentication requirements,” said Tonu Ots, Head of Card Issuing, Swedbank.
- “This has led to a considerable decrease in card fraud and helped to enhance the customer experience, which is crucial to business growth in light of average high checkout abandonment rates.”
- Utilizing ACI’s model generator functionality allows Swedbank to create and maintain their own predictive machine learning models within minutes.
- ACIW shares down 3.1% premarket at $36.12.