ACI Worldwide Launches Advanced Machine Learning Capability to Dramatically Reduce Payment Fraud for Banks and Merchants and Their Customers
Patented Incremental Learning technology will deliver machine learning models that can adapt quickly to changing fraud patterns
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; and ACI ReD Shield, which underpins ACI’s secure eCommerce and merchant fraud management capabilities.
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. 13-month tests carried out on data from three major retail customers revealed that, while traditionally trained models began to degrade after three months, ACI’s incremental models maintained their performance over the full period of the test.
“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
ACI has more than 20 years of experience in designing and implementing machine learning models, which have long been a fundamental element within Proactive Risk Manager and ACI ReD Shield. ACI’s machine learning models will quickly and efficiently analyze all available features and data points, which will then be turned into intelligence that can build customer profiles, spot fraud signals and combat emerging fraud threats. Any anomalies are flagged in real time and immediately actioned.
“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,
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