ACI Worldwide launches advanced ML capability to reduce payment fraud for banks and their customers

ACI Worldwide has announced the launch of its new Incremental Learning technology – an innovative industry-first approach to machine learning that will enhance fraud protection for financial institutions and their customers. ACI has filed a patent application for its ‘Incremental Learning’ technology, which is being implemented in machine learning models within ACI’s fraud prevention solutions, including Proactive Risk Manager, which delivers enterprise fraud management capabilities for financial institutions and intermediaries.

ACI’s ‘Incremental Learning’ technology represents a significant advancement over current machine learning models that need to be retrained as fraud patterns change. Incremental Learning models are able ‘to think for themselves’ and make small adjustments on an ongoing basis to ensure they remain relevant, even as fraudsters and genuine consumers change their behaviors.

“Traditional machine learning models in many cases are not sufficient to stop fraudsters in their tracks. As fraudsters become more sophisticated, we need to continuously advance our models to beat them at their own game,” said Jimmy Hennessy, director of Data Science, ACI Worldwide, adding, “Our global data science team has created a game-changing piece of machine learning technology that can be seamlessly integrated and future-proofs the precision and operational efficiency for over 5,000 institutions protected by our solutions today.”

“We are the first vendor globally to roll out the new Incremental Learning technology across the merchants, payments and financial services sectors,” commented Fabian Gloerfeld, head of Payments Intelligence, ACI Worldwide, adding, “The new capability is a realization of ACI’s multi-year investments and will further enhance our sophisticated fraud monitoring and prevention solutions to help customers to dramatically reduce payments fraud.”