TL;DR:
- NymCard and ACI Worldwide collaborate to combat financial fraud in the MENA region.
- ACI Fraud Management and anti-money laundering module deployed via the public cloud for enhanced risk management.
- NymCard gains real-time fraud detection capabilities with advanced machine learning and predictive analytics.
- The partnership offers rapid implementation, scalability, and robust security via cloud deployment.
Main AI News:
In a strategic move to fortify its defenses against the growing threat of financial fraud, NymCard, a leading card issuer in the Middle East and Africa (MENA), has embarked on a groundbreaking collaboration with ACI Worldwide, a distinguished provider of real-time payment solutions. The partnership, rooted in a commitment to safeguarding financial integrity, is set to reshape the landscape of fraud prevention in the region.
Under the umbrella of this innovative alliance, NymCard has seamlessly integrated ACI Fraud Management into ACI’s robust public cloud environment, extending its reach across multiple markets within MENA. Furthermore, NymCard is harnessing the power of ACI’s cutting-edge anti-money laundering module to bolster its risk management strategies for both domestic and cross-border payments. This strategic move empowers NymCard to efficiently detect and manage suspected financial crimes while adhering to stringent regulatory requirements and global sanctions.
Cleber Martins, Head of Payments Intelligence at ACI Worldwide, emphasized the urgency of adapting to the evolving threat landscape, stating, “In today’s real-time environment, emerging fraud threats are exerting unprecedented pressure on banks and financial institutions. ACI’s award-winning enterprise fraud management and analytics solution equips payment service providers with the means to swiftly and effectively mitigate risks and combat fraud. The deployment via the public cloud enhances this offering, presenting a unique value proposition by making advanced fraud prevention and analytics accessible to institutions that previously lacked such capabilities.“
The ACI Fraud Management solution empowers NymCard with real-time enterprise fraud management capabilities, including advanced machine learning, predictive analytics, and meticulously crafted rules. This comprehensive solution enables NymCard to promptly identify and counter financial fraud, all within a single integrated platform. Moreover, ACI’s model generator functionality provides NymCard with the agility to create and maintain predictive machine learning models in a matter of minutes.
Omar Onsi, Founder and CEO of NymCard, expressed his enthusiasm for the partnership, stating, “Our ongoing strategy is to empower our clients with best-in-class solutions and services. We never compromise on quality standards, and we are thrilled to partner with ACI, whose dedication aligns with ours in safeguarding our customers through one of the most sophisticated fraud management solutions available. The cloud deployment of this solution offers several key advantages, including rapid implementation, scalability to accommodate transaction volumes, and, most importantly, airtight security.”
Conclusion:
The strategic partnership between NymCard and ACI Worldwide signifies a significant advancement in the fight against financial fraud in the MENA region. By harnessing cutting-edge technology and expertise, this collaboration not only bolsters NymCard’s ability to protect its customers but also sets a new industry standard for fraud prevention. It underscores the importance of proactive measures and the adoption of innovative solutions to safeguard financial institutions and their clients in an ever-evolving threat landscape.
