ACI and Infoglide Software Provide Powerful Retail Returns Fraud Solution
(New York, N.Y. – 3 March 2008) – ACI Worldwide (NASDAQ: ACIW), a leading international provider of software for electronic payment systems, today announced a partnership with Infoglide Software Corporation, a provider of identity resolution and analysis software, to offer enhanced returns authorization and employee screening solutions for the retail industry. The companies have combined resources to provide enhancements around returns authorization, loss prevention intelligence, employee risk screening and “eFencing” intelligence.
ACI Retail Commerce Server™ offers powerful return authorization capabilities designed to reduce losses from fraudulent refund activity. The solution validates returns online by checking and tracking receipt information against sales history data and blacklists, providing protection that enables retailers to reduce losses from fraudulent or duplicate receipts.
Infoglide Software’s Identity Resolution Engine™ (IRE) connects disparate data sources such as bad checks data, human resources records, incident management reports, and sales history and analyzes all of the attribute information relating to individuals or entities. IRE uncovers suspicious relationships and can detect patterns in the data that may indicate instances of organized retail crime. In addition, IRE can pre-emptively address risk by screening employees and potential employees for suspect behaviors and connections.
Combined, these solutions offer retailers improved returns fraud prevention and improved service for legitimate customers.
“IRE complements the returns authorization capability of Retail Commerce Server,” said Mark Vipond, president of global products at ACI Worldwide. “A key benefit to the combined solution is the minimal data preparation required as the products enable retailers to address risk, fraud and audit anomalies using their existing data. Our companies have combined our resources to provide retail solutions for enhanced returns authorization, loss prevention intelligence, employee risk screening and eFencing intelligence. This functionality ultimately contributes to our customers’ bottom line by reducing fraud losses.”
“ACI offers proven products and a strong retail industry presence,” said Douglas Wood, senior vice president of Infoglide Software. “This partnership allows a combined loss prevention offering that is unequaled in the industry.”
About Infoglide Software Corporation
Infoglide Software Corporation (www.infoglidesoftware.com) supplies identity resolution (also know as entity resolution and analysis) solutions to the banking, insurance, retail and government markets. The company's solutions enable organizations to detect fraud and risk by analyzing data related to individuals and/or entities within multiple data silos throughout the enterprise. The company's Identity Resolution Engine (IRE) uncovers matching identities and non-obvious relationships, applies domain specific rules and automatically integrates the resulting business intelligence into an organization's systems and processes in real time. Applications include retail returns fraud detection, banking compliance, e-fencing and organized retail crime detection, employment application screening and insurance claims fraud detection. Incorporated in 1996, Infoglide Software is a privately held company headquartered in Austin, Texas.
About ACI Worldwide
Every second of every day, ACI Worldwide solutions are at work processing electronic payments, managing risk, automating back office systems and providing application infrastructure services. ACI is a leading international provider of solutions for banking, retail and cross-industry systems. ACI serves more than 800 customers in 86 countries including many of the world's largest financial institutions, retailers and payment processors. Visit ACI Worldwide at www.aciworldwide.com.
Any statements in this press release regarding projected results are preliminary and "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, this press release may contain other forward-looking statements including statements regarding ACI Worldwide Incorporated, its subsidiaries or third parties’ expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect. The forward-looking statements in this press release are subject to a variety of risks and uncertainties. Actual results could differ materially.
For a detailed discussion of these risk factors, parties that are relying on the forward-looking statements should review the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-K filed on January 30, 2008, the Company’s Form 10-Q for the fiscal quarter ended December 31, 2006 filed on June 29, 2007, the Company’s Form 10-Q for the fiscal quarter ended March 31, 2007 filed on August 10, 2007 and the Company’s Form 10-Q for the fiscal quarter ended June 30, 2007 filed on September 20, 2007.
