ACI Fraud Management Incremental Learning Technology Receives Full Patent Approval
21 September 2021 - 4:00PM
Business Wire
Innovative industry-first approach to machine
learning considerably enhances fraud protection for merchants and
financial institutions
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time payments and digital payment software solutions, today
announced that the patent for its incremental learning technology –
an innovative industry-first approach to machine learning – has
received full approval.
Incremental learning technology is an integral part of ACI Fraud
Management and considerably enhances fraud protection for merchants
and financial institutions. While traditional machine learning
models need to be ‘re-trained’ as fraud patterns change, models
using incremental learning make small adjustments on an ongoing
basis, allowing the model to adapt itself in production when new
behaviors are observed.
“Fraud attempts on financial institutions and merchants continue
to rise globally, while fraud patterns are evolving more rapidly
than ever,” said Debbie Guerra, head of merchant segment, ACI
Worldwide. “Incremental learning is a key development in the fight
against fraud – a technology that is highly adaptable and
responsive to emerging threats. Its full patent approval is a
recognition of the innovative approach of our dedicated data
science team.”
“As the first solution provider globally to roll out this
incremental learning technology, ACI has set itself apart in a
competitive and rapidly advancing fraud prevention market,”
commented Jimmy Hennessy, head of data science, ACI Worldwide.
“Incremental learning is a realization of our multi-year investment
and will strengthen our sophisticated fraud monitoring and
prevention solutions, helping customers to dramatically reduce
payments fraud.”
ACI Worldwide has more than 20 years’ experience in designing
and implementing machine learning models, which have long been a
fundamental element within ACI Fraud Management. Machine learning
models, combined with incremental learning technology, are capable
of analyzing large amounts of complex data to identify fraudulent
behaviors and alert future suspicious transactions, enabling
merchants and financial institutions to minimize fraud loses while
keeping revenue high.
About ACI Worldwide
ACI Worldwide is a global software company that provides
mission-critical real-time payment solutions to corporations.
Customers use our proven, scalable and secure solutions to process
and manage digital payments, enable omni-commerce payments, present
and process bill payments, and manage fraud and risk. We combine
our global footprint with local presence to drive the real-time
digital transformation of payments and commerce.
© Copyright ACI Worldwide, Inc. 2021
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and
all ACI product/solution names are trademarks or registered
trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in
the United States, other countries or both. Other parties’
trademarks referenced are the property of their respective
owners.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210920005086/en/
Media Dan Ring dan.ring@aciworldwide.com
Christopher Taine Christopher.taine@aciworldwide.com
ACI Worldwide (NASDAQ:ACIW)
Historical Stock Chart
From Apr 2024 to May 2024
ACI Worldwide (NASDAQ:ACIW)
Historical Stock Chart
From May 2023 to May 2024