Westpac New Zealand Adopts ACI Proactive Risk Manager To Detect Banking Frauds

Published: 17-Jun-2009

ACI solution helps in fraud detection and helps customers against the rapidly rising volume of fraudulent activities occurring worldwide.

ACI Worldwide, a provider of electronic payments software and solutions has announced the implementation of ACI Proactive Risk Manager for Enterprise Risk solution on IBM System z at Westpac New Zealand, one of the country's full service banks.

Terry Mortensen, Head of Fraud & Security at Westpac New Zealand, said: “Within a few days of implementing ACI’s Proactive Risk Manager, it alerted us to fraud, which we were then able to prevent. Immediately, we were confident in assuring our customers, and prospective customers, that we can provide them the risk-free service they need in the current financial climate.”

Ron Totaro, Chief Operating Officer at ACI Worldwide, said: “Fraudulent transactions are damaging many companies in the financial services industry today, and there is pressure not only from banking customers, but also the government, to control them. Innovative financial institutions, like Westpac New Zealand, are deploying Proactive Risk Manager to detect fraud early in the transaction cycle, to prevent financial loss and negative brand impact.”

June Felix, General Manager for Banking and Financial Markets at IBM, said: “Proactive Risk Manager on IBM System z servers can help provide Westpac New Zealand with the capability to take a holistic, enterprise-wide approach to managing financial crimes and operational risk.”

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