The banking industry has quickly embraced web-based technology for innovative product offerings and ease of banking across retail and business banking product lines.
Along with this proliferation of online banking offerings, quickly comes the need to ensure that all transactions are processed accurately and securely.
Because two-factor authentication measures such as tokens are only one layer of protection, financial institutions can further mitigate their risk by layering monitoring transactional behavior to determine whether or not activity occurring online, such as the initiation of ACH or wire transfers, fits the profile for the genuine customer.
When high-risk activity is detected, action can be taken in real time or near-real time to stop the transfer of funds from the customer’s account. Funds can be placed on hold until fraud analysts are able to verify the legitimacy of the transaction by contacting the customer and validating the activity in question.
ACI Online Banking Fraud Management offers a powerful, secure approach to monitoring login, ACH and wire activity initiated over the online banking channel, as part of a strong foundation to any online financial crime management strategy.
The solution includes ACI Enterprise Banker and ACI Proactive Risk Manager.
ACI Enterprise Banker offers online banking capabilities with built-in security protocols including multifactor authentication, dual approval functions, browser security, velocity and limit threshold monitoring, and a full range of alerting and audit options.
When implemented with ACI Proactive Risk Manager, our powerful fraud detection and prevention solution, end-users have a strong defense against risk and a complete approach for managing it in wholesale payments.
