Onfido, the global identity verification and authentication company, today announces new partnerships with Bondora, Voima Gold, and EstateGuru, to securely manage and streamline access to their financial services for local and international users. The announcement comes in the wake of Onfido’s 40% increase in global sales QoQ and $100 million funding round led by TPG Growth (early investors of Uber, Spotify and Airbnb), and rapid growth in Eastern Europe; meeting the demands of businesses and digital transformation initiatives with identity verification solutions that ensure strict Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance.

By integrating Onfido’s AI-powered ID verification service, these companies can establish secure and seamless user onboarding in a matter of seconds using just a photo of a government ID and a selfie. Onfido first checks that the government ID seems genuine, and then matches it to the user’s face drawing upon unique expertise in over 4,500 document types from 195 countries, before comparing it to the user’s face using biometrics. This ensures the person presenting the identity is its legitimate owner and is physically present.

New partnerships:

Bondora – Onfido partnered with Bondora, one of Europe’s biggest peer-to-peer lending platforms, to streamline the onboarding and KYC processes to its 125,000 investors across 37 countries. As Bondora continues to scale, it recognised the need to further secure and automate its onboarding process, improving speed and accuracy for its local and international users.

Voima Gold – Voima Gold is a Finnish fintech company that offers gold-backed digital accounts for global clients. Voima Gold’s Voima Account allows customers to securely buy, sell, and store physical gold. Onfido’s identity verification enables Voima Gold to identify their growing customer base remotely in a scalable way while mitigating fraud.

EstateGuru – The leading Pan-European marketplace for property financing and investing, EstateGuru, and Onfido have partnered to automate KYC and AML compliance processes, creating a secure, yet frictionless user experience. Onfido’s technology onboards new users swiftly and securely. EstateGuru has a growing portfolio of borrowers and over 52,000 investors from 106 countries.

“Eastern and Northern Europe is a hotbed for tech start-ups, especially fintechs, and in order to thrive in a competitive market, these companies are transforming their approach to digital identity and access. With modern identity verification, forward-thinking organisations such as Bondora, Voima Gold, and EstateGuru are automating the most rigorous compliance requirements with a simpler and faster customer experience. We’re pleased that they’ve switched to us as their partner and look forward to being able to help them scale their businesses.” - Husayn Kassai, CEO and Cofounder at Onfido.

“We want everyone to experience the benefits of investing. That means giving more people, in Europe and beyond, a simple way to grow their money. We’ve had significant growth over the last 12 months, and the only way to consistently exceed customer expectations is by utilizing automation for scalability. Through our partnership with Onfido, we can offer our customers a secure and seamless experience for identity verification.” - Matt Clannachan, VP of Product at Bondora.

“Our vision is to oversee and manage capital for generations to come. We can do this by offering secure gold-backed Voima Accounts. Our clients come from around the world, and in order to provide Voima Accounts for global clients, we need to securely identify each customer. We are glad that Onfido provides us with seamless identity verification that enables us to comply with our high security and compliance risk management standards.” - Joonas Ilmasti, Legal Counsel at Voima Gold.

“90% of EstateGuru's core processes are digitised, making the company agile and efficient. The application of AML measures and KYC principles is an unavoidable part of being a sustainable alternative financing platform, creating trust and serving clients from different parts of the world. We offer something unique that other financial institutions cannot provide - a seamless, cross-border and digital service for borrowers and investors; and with Onfido’s innovative technology, we’re able to enhance compliance and safety, ultimately bringing a great digital experience to our users.” - Mihkel Stamm, COO at EstateGuru.

Acronis, a global leader in cyber protection, today announced the acquisition of DeviceLock, Inc., a leading provider of endpoint device/port control and data leak prevention software for enterprises and government institutions around the world. As part of the agreement, DeviceLock will become a wholly-owned subsidiary of Acronis.

A clear leader in endpoint data loss prevention (DLP) protecting 4 million computers in more than 5,000 organizations worldwide, DeviceLock enjoys a global customer presence across a wide variety of business types, including banking and finance, medical, pharmaceutical, government and defense, manufacturing, and retail.

DeviceLock DLP is designed to stop data leaks at the source, as nearly two thirds of serious data leakage incidents are caused by employees, contractors or visitors – whether through unintentional mistakes or malicious intent. DeviceLock solutions provide top-class protection of valuable data from this serious insider threat. The acquisition of these new capabilities will help advance Acronis’ mission to deliver world-class cyber protection to every business.

Acronis will integrate DeviceLock’s technology into the Acronis Cyber Platform, making new services available through the Acronis Cyber Cloud Solutions portal. At the same time, Acronis will continue to work on new versions of the DeviceLock DLP complex while maintaining full technical support.

Together with DeviceLock’s full DLP suite, Acronis will offer customers and partners a simple and affordable approach to preventing data leaks from corporate Windows and Mac laptops, desktop computers, and virtualized Windows sessions and applications, covering the Five Vectors of Cyber Protection — safety, accessibility, privacy, authenticity, and security (SAPAS) of all data, applications, and systems.

“By adding DeviceLock’s solutions to our portfolio of cyber protection products and services, we’re giving our partners and customers an easy way to deliver an unprecedented level of functionality among endpoint DLP solutions in an affordable price range,” said Serguei “SB” Beloussov, Acronis' Founder and Executive Officer. “We are looking at both developing new solutions internally, as well as acquiring additional leading vendors to add even more capabilities to our existing repertoire. The world of IT security is always changing, and we are determined to continue evolving our solutions to meet the ever-changing needs of the market.”

Acronis sees the value in offering DeviceLock’s services to its community of 50,000 partners in the IT channel, enabling MSPs and service providers to better manage the data protection needs of their clients. Acronis’ ability to meet infrastructure deployment requirements by location, budget, and use case provides them with the best in control and flexibility, to deliver cyber protection with Acronis Cyber Protect. Acronis plans to continue enhancing its cyber protection offerings, and adding capabilities requested by partners and customers.

“By merging with Acronis, we can accelerate product innovation, expand our distribution channel, and leverage our existing technology to meet customer requirements,” said Ashot Oganesyan, DeviceLock CTO and Founder. “With the knowledge gained from nearly a quarter century of experience providing device control and endpoint data leak prevention solutions, we are certain that this acquisition will protect millions more users and ensure secure and reliable data protection deployments worldwide.”

Allica Bank, the business bank dedicated to empowering small and medium-sized businesses to succeed, has today announced the appointment of Brandon Hall as Senior Business Development Manager for Asset Finance.

Brandon will be working closely with Nick Baker, Head of Intermediaries, and Richard Cameron, Head of Asset Finance, to develop and deliver an industry-leading asset finance product to the broker and intermediary market. He will build on the success of Allica Bank’s commercial mortgage products, by providing small and medium-sized businesses with access to finance using modern tools, backed up by human expertise.

Brandon joins Allica Bank with 25 years’ experience in asset finance and banking, working both directly with businesses and through finance intermediaries. Allica Bank was especially interested in his broad base of knowledge, having operated across all forms of commercial and wholesale finance, lending to UK SMEs.

Most recently he was with Wesleyan Bank, where his role focused on the SME asset finance market. Brandon has also held senior leadership positions at Lombard Asset Finance – part of RBS – and Santander.

Brandon Hall, Senior Business Development Manager for Asset Finance at Allica Bank, said:

“Joining Allica Bank is a fantastic opportunity to work with a talented and fresh-thinking team to help build a bank focused on empowering small businesses to prosper. It is exciting to work within a bank that uses innovative technology, local industry experience, and human relationships to provide an exceptional service to all customers.

“I am looking forward to sharing my skillset and experience of working with the large incumbent banks to help develop the asset finance proposition here at Allica Bank. We will work to create a seamless and consistent digital journey for brokers and intermediaries, supported by human relationships and expertise.”

Mark Stephens, CEO of Allica Bank said:

“Brandon’s expertise and understanding of the banking and asset finance sectors will be a real boost for Allica Bank’s continued expansion plans. He will play a central role in helping us forge strong relationships with brokers and intermediaries around our new asset finance proposition, which are key strategic markets for us.

“I look forward to Brandon’s contribution as we continue to develop our suite of services designed to empower small and medium-sized businesses to succeed.”

The Emerging Payments Association (EPA), which celebrates collaboration and innovation across the emerging payments industry, has today launched Project Recovery to help the UK FinTech make informed decisions and equip them to survive in the post pandemic world.

Following the cross-sector existential threats imposed organisations from the COVID-19 health crisis, alongside a surge in digital and contactless payments (more than three quarters of shoppers are now using contactless payments, according to Mastercard), there has never been a more important time for the U.K to have a steady FinTech ecosystem.

Furthermore, with analysts predicting a major contraction for the market, with fintech funding in Q1 2020 already down $2 billion from Q4 2019, the COVID-19 pandemic has not only revealed a gap in funding but also a lack of resources between the large and small-scale FinTechs. Failure to address these risks the loss of many companies in the fastest-growing sector in the UK economy.

The EPA’s Project Recovery, in line with the government’s support schemes, has launched a Covid-19 Recovery Toolkit for its members and the wider industry. Payment experts from all over the industry rallied together to create a hub of resources, blogs, trainings and events. The toolkit signposts Cyber-security services, leading articles from industry professionals, payments training courses and includes advice on furloughing and returning to the office.

Tony Craddock, Director General of the Emerging Payments Association, said: “The FinTech sector has a key role to play in the UK’s economic recovery and so the aim of Project Recovery is to make sure it is not only the big players that survive but all FinTechs across the ecosystem. Our COVID-19 Recovery toolkit, free training and events, means businesses of all sizes will have access to resources that can guide them through the pandemic to a prosperous 2021.”

Mike Chambers, Director, Northey Point Limited and EPA Ambassador, said: “Whilst online payment providers and FinTechs supporting contactless payments and digital identity providers have weathered the storm well, there has been a distinct lack of funding for many organisations across the sector. Project Recovery has a voice and we plan to use it to help equip companies with the right knowledge and resources to lead them out of the pandemic.”

Alan King, Group President, Europe & Australasia, FLEETCOR and EPA Advisory Board Member, said: “As an association and an industry, we have stood tall and pulled together this year. We think it is imperative to continue to foster growth and momentum throughout the fintech industry to ensure it remains one of the strongest and most promising industries in the UK heading into 2021.”

In a recent Open Letter to the FCA, the EPA urged the FCA to unfreeze Wirecard Cards Services accounts to prevent further significant and lasting damage to the industry. The EPA cited a potential crisis in confidence amongst consumers and amongst clients of emerging payments companies, as well as the U.K.’s leadership on the world stage of financial technology.

For more information on the support and services the EPA are offering through its Covid19 Recovery Toolkit visit https://www.emergingpayments.org/resources/recovery-covid-19-toolkit/ or you can speak directly to the EPA at: info@emergingpayments.org

FlexTrade Systems (@FlexTrade), a global leader in multi-asset execution and order management systems announces direct availability of Liquidnet’s Targeted Invitations in its multi-asset trading blotter for equities.

 
The functionality provides traders with targeted natural liquidity from other Liquidnet buy-side members and selected brokers, directly into the parent order blotter. With a minimum order size of 3 x LIS for EMEA equities, 25k shares/15% ADV in Americas, and $1.5M/25% ADV in APAC, and an average execution size of about $1.8M*, this quick availability of this actionable liquidity is critical for achieving Best Execution. Traders can access the liquidity through one- or zero-clicks, with the appropriate routing strategy being defined in the targeted invitation itself, maintaining full control and further improving efficiency.

Andy Mahoney, Managing Director EMEA at FlexTrade Systems, noted: “We are very excited to offer this innovative new functionality in partnership with Liquidnet.  While highly targeted, actionable liquidity, with zero information leakage, has been available for some time in our parent order blotter, this really takes it to the next level.  Targeted Invitations contain machine-readable instructions on what strategy the trader should employ, which is key to workflow optimization.”

Tony Booth, Head of Liquidnet Dublin stated: “Working with FlexTrade has allowed Liquidnet to deliver high quality, LIS actionable Targeted Invitation liquidity, directly into the trader’s EMS for immediate execution. This is part of a broader collaboration with FlexTrade which also includes delivering leading indicators and predictive signals from Liquidnet Investment Analytics to improve our mutual customers’ decision-making processes.”

FlexTRADER is the industry’s market-leading, multi-asset execution management system (EMS) that encompasses all facets of electronic and algorithmic trading. It is trusted globally by tier-one asset managers and hedge funds trading equities, FX, derivatives and fixed income for its unparalleled performance, quantitative analysis, and worldwide connectivity to liquidity sources. Backed by a strong team of 400+ fintech developers, FlexTRADER’s open architecture is fully customizable and designed to unify your trading solution with FlexTRADER EMS at the center. For more information, visit www.flextrade.com
 

* Source: Liquidnet internal data, H1 2020.

Wolters Kluwer’s Finance, Risk & Regulatory Reporting (FRR) business has launched a Professional Services offering for ongoing software management and maintenance, specifically for the Americas market. The consultancy service is designed to help Wolters Kluwer’s clients in the region leverage private cloud environments to more efficiently scale their risk and reporting infrastructures, helping them to ensure optimal system performance. Complete with automatic updates, remote management, low maintenance and on-demand services, clients are better able to manage their data and performance demands allowing for greater focus on their core banking needs.

As part of this new service Wolters Kluwer FRR’s team of functional and technical consultants will help clients define both business requirements and technical specifications needed to move to a private cloud environment when implementing the OneSumX FRR suite of solutions. This allows business users to focus on executing day-to-day functions. Technical Consultants will be available to remotely manage and support a client’s integrated system to run optimally, utilizing a combination of software upgrades, archive management and system tuning and optimization for improved performance.

“Business today relies on complex databases to house data critical to the operation and integrity of their regulatory reporting obligations. Having consultants that are current with regulatory and technology changes across a large client base allows us to offer solutions that stay ahead of the ever-changing regulatory landscape,” commented Todd Lawrence, General Manager of Wolters Kluwer FRR, Americas. “Our consultants have extensive experience assessing whether a system helps meet performance goals for clients by providing best practice recommendations to bring systems to optimal performance. We look forward to working with client IT teams to implement new, or migrate an existing, OneSumX FRR infrastructure to a client’s private cloud. Once the solution is in production in a cloud environment, we offer hands-free remote monitoring and maintenance of the OneSumX FRR solution.”

The Professional Services offering will also allow Wolters Kluwer FRR to partner with a client’s team to navigate changing regulations and requirements to keep the business prepared and current. Quarterly support assessment and support visits from Wolters Kluwer’s consultants, alongside preparation for Federal Regulators, are among the services offered.

The new service is part of a wider portfolio of value-added services Wolters Kluwer FRR offers to clients post implementation. Other services include performance and monitoring, helping clients assess the performance of regulatory infrastructure goals in pursuit of optimal system performance. It also includes archiving, which helps businesses meet compliance retention requirements both by storing data long term and consolidating data for easy access in case of an audit, reporting or re-filing.

Wolters Kluwer FRR, which is part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, is a global market leader in the provision of integrated regulatory compliance and reporting solutions. It supports regulated financial institutions in meeting their obligations to external regulators and their own board of directors.

Wolters Kluwer FRR receives frequent independent recognition of its excellence and innovation, celebrating a record year for award wins in 2019. Risk magazine recently awarded the company its coveted Regulatory Reporting System of The Year Award for the third year running and Wolters Kluwer FRR is the #1 provider in both Regulatory Reporting and Liquidity Risk according to the RiskTech100, as compiled by Chartis Research.

Wolters Kluwer’s GRC division offers a range of expert solutions to help the financial services industry respond to the COVID-19 pandemic. Its Compliance Solutions business, for example, offers Paycheck Protection Program Supported by TSoftPlus™ to support stimulus loan applications and loan forgiveness processes under the Coronavirus Aid, Relief, and Economic Security Act or U.S. CARES Act. Wolters Kluwer Lien Solutions, meanwhile, has also recently established a technology solution specifically designed to help U.S. lenders navigate Paycheck Protection Program loan applications, and associated compliance and risk mitigation requirements, resulting from the CARES Act. The Business Entity Search for CARES Act solution conducts bulk/batch corporate identity searches to verify the business status of potential borrowers.

Cyber security specialist Foregenix has signed a strategic partnership with e-commerce hosting firm Sonassi – part of the iomart group – to provide more protection to firms planning to upgrade their website platforms to Magento 2.

The partnership will give Sonassi’s clients access to Foregenix’ FGX-Web security solution, which monitors for threats and suspicious behaviour and alerts users to attacks and possible breaches as they migrate. Higher FGX-Web plans are also available which include protection from online threats.

According to Foregenix’s research, there are more than 200,000 e-commerce companies worldwide using Magento 1 and since June 2020 they are no longer supported for upgrades such as security patches. 

The process of website migration can be challenging and disruptive, during which the cyber security status of many websites will continue to deteriorate, creating opportunities for criminals to breach e-commerce websites.

Foregenix’s research also shows the migration trend is gaining speed with the number of e-commerce firms using Magento 2 rising by 3.5% - 2,740 sites -  following a 1.7% increase - 1330 sites - in June. The number of e-commerce firms using Magento 2 has now passed 75,000.

The cost of remaining on Magento 1, which leads to a breach and card data being stolen can be high as e-commerce businesses on Magento 1 are no longer considered Payment Card Industry Data Security Standard (PCI DSS) compliant. In addition to reputational damage, card brands fine merchants for each cardholder whose data is stolen. GDPR fines can amount to 4 percent of worldwide turnover or € 20 million if security breaches are undisclosed to authorities within 72 hours.

Foregenix co-founder Benjamin Hosack says: “Magento 1 proved to be very popular for e-commerce businesses and for good reason. However, a significant portion of these businesses have not paid much attention to the security of their website.  Now, more than ever, Magento 1 sites are urged to make the simple changes to their websites to reduce the risk of being targeted. The upgrade process to Magento 2, or any other platform, takes skill and careful planning, during which time, their website may be exposed to a level of risk that the website owners may not realise. Our partnership with Sonassi will enable online businesses to benefit from both the leading Magento hosting provider and the most comprehensive website security solution available in the market to ensure a smooth transition and longer-term security.” 

Sonassi has already launched its Responsible Commerce initiative, a programme that Foregenix plays a big part in, to provide Magento 1 websites users with the skills, security and finance to enable a smooth and quick migration to Magento 2. 

Sonassi MD, Neil Christie, says: “The Magento community has been targeted by criminals for the last couple of years, causing considerable damage to many online businesses. Our partnership with Foregenix is a strategic move to bring our clients the best of the best in hosting and website security - a combination of services that will enable our clients to focus on their businesses, knowing that we have their hosting and security taken care of.”

Sonassi founder, Ben Lessani, says: “Our partnership with Foregenix brings the leading Magento hosting platform together with the leading Magento security solution with the result being a highly effective and scalable solution to support the Magento community."

As the UK eases out of lockdown and approaches the end of the furlough scheme, a survey of social and private renters* by the payment provider, PayPoint, has revealed significant concerns regarding future ability to pay on time. 25% of respondents are already at least a month behind on their rent, and a third are concerned about the impact COVID-19 has had on their long-term financial situation.

Encouragingly, 40% of social renters are confident that their long-term financial situation will improve as the UK recovers post-COVID-19, and most of those who have fallen behind have found their landlord sympathetic and flexible.

Overall, private renters are more concerned about the long-term financial impact of COVID-19, and less than a quarter (24%) are confident in their recovery post-COVID-19. Of the private renters who are behind on payments, 22% are concerned about their ability to catch up within the next 3-6 months, whereas just 10% of social renters shared these concerns.

Danny Vant, Client Services Director for PayPoint commented: “The global crisis has impacted virtually every area of our lives and the longer-term financial impact is becoming clearer. Our survey reveals real concerns over future financial stability and ability to pay rent. It is vital that both private and social landlords are sympathetic to the challenges their tenants are facing in these uncertain times. Offering payment flexibility will be important for tenants going forward, to help them navigate changes to their lifestyle and financial situation. This will ensure landlords can retain good tenants and continue to recover rent fees effectively.”

One in five of the renters surveyed said they would welcome the introduction of a digital payment platform that would remind them when payments are due and enable them to make flexible payments to help them manage their financial situation.

PayPoint’s new collection tool, PayByLink, available through its digital payment solution, MultiPay, helps landlords to engage with tenants sensitively and responsibly via SMS and email, to remind them of payment dates, make arrears collections and offer flexible payment terms. This will be particularly beneficial as the UK navigates it way through the financial impact of the COVID-19 pandemic.

Vant continued: “Late payment collection through PayByLink increases efficiency and reduces the cost of collections and write-offs. Tenants do not want to miss rent payments, but many facing significant challenges in the current climate have fallen into rent arrears. As our survey identified, many are very concerned about their ability to pay rent in the coming months, and how quickly they will recover, financially from the impact of COVID-19. 

Importantly, PayByLink provides tenants with payment flexibility, putting them in control whilst improving cashflow for landlords. The user-friendly payment options remove friction from the payment process whilst retaining security and peace of mind, increasing customer engagement and ultimately improving collections success. Working together with tenants, considering their financial challenges and providing payment flexibility, landlords can help tenants through this stressful time and may find they benefit from longer tenancies and more efficient payments in future.”

PayByLink benefits for late payment collection:

*200 private and social renters - Social Grade C2, D, E -  were surveyed using Gorkana Surveys, 2nd July 2020.

OneStream Software, LLC, a leading provider of modern Corporate Performance Management (CPM) solutions for mid-sized to large enterprises, has been named the winner of the “Office of Finance” category in Ventana Research’s 13th Annual Digital Innovation Awards. This award recognizes OneStream as a pioneering vendor and exemplar of innovation in the applications and technologies that support the office of finance.

This Digital Innovation Award, along with the consistently high praise from the company's customers, further solidifies OneStream as an industry pioneer that has successfully established its unified and extensible platform as a market-proven, intelligent alternative to legacy CPM products and cloud-based point solutions.

“Across the globe, finance teams are embracing their new responsibilities and rapidly changing business conditions as an opportunity to navigate and lead their companies through the unprecedented challenges presented by COVID-19," said Tom Shea, CEO of OneStream Software. “OneStream XF’s industry-leading Analytic Blend enables teams to quickly apply trusted financial intelligence to large volumes of operational data to detect trends and financial signals that drive informed decision-making at the speed of business.”

“Ventana Research gave OneStream Software its innovation award because of its ability to address increasingly critical requirements for the Office of Finance and do so at scale,” commented Robert Kugel, Senior Vice President and Research Director. “Its Analytic Blend capability allows users to assemble a wide spectrum of data from financial and operational sources without latency for immediate analysis, alerting and reporting. In doing so, it can expand the frontiers of visibility and enable finance departments to provide action-oriented insights to executives and managers across the enterprise.”

The Ventana Research Digital Innovation Awards recognize trailblazing vendors that contribute advancements in technology, drive change and increase value for organizations worldwide, backed by market research and analyst expertise across business and IT. Ventana Research analysts examine and score companies based on how they help organizations innovate, enhance the productivity and enhance outcomes of business or IT processes. Vendors are evaluated on not just their innovative technology approaches, but also how their solutions apply to people, processes, information and technology. Solutions are also assessed for the best practices they support, the degree of team involvement, and the technology’s business impact and value.

To learn more about OneStream Analytic Blend download this interactive e-Book.

ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that ACI Proactive Risk Manager and ACI Model Generator, part of ACI’s Payments Risk Management solution, can now be deployed in a private or public cloud environment by all existing customers globally. The move comes in response to the changing fraud landscape, which has further accelerated during the current Covid-19 pandemic, increasing pressure on financial institutions to adapt quickly, maximize operational efficiencies and mitigate increased risks.

ACI Proactive Risk Manager delivers enterprise fraud management capabilities, including advanced machine learning, predictive analytics and expertly defined rules, to help banks and intermediaries identify and mitigate financial fraud and help reduce the compliance burden in all forms. These include the likes of immediate payments, internet and mobile banking, on-boarding threats, merchant acquiring and even internal fraud—within a single comprehensive solution.

ACI Model Generator enables business users to create and maintain their own predictive machine learning models within minutes. The offering was recently enhanced with shared intelligence, empowering the financial community to collaborate and build hybrid machine learning models.

The new ‘Software as a Service’ offering is available on ACI’s private cloud or a public cloud environment through its global strategic collaboration with Microsoft Azure and the Microsoft Partner Network. Companies successfully deploying the ACI solution in the public cloud recently include Conductor, a leading Brazilian-based processor, and Banco Safra, the world’s largest privately owned bank.

“We are proud to be among the first technology providers to make such a comprehensive cloud deployment offering available globally. Delivering a complete fraud solution as a ‘SaaS’ model offers a number of advantages to financial institutions—it speeds up time to value, can be scaled up depending on transaction volumes and above all, it is secure,” said Cleber Martins, global product line manager, Payments Risk Management, ACI Worldwide. “Given the state of the global economy and the speed at which fraud attacks are increasing, these are crucial features to maximize fraud monitoring and prevention.”

“ACI is leveraging its global professional services reach to serve customers in their native language and culture. Combined with Azure’s footprint, this creates a unique value proposition at an extremely competitive total cost of ownership,” said Ciaran Chu, head of Public Cloud, ACI Worldwide. “This brings a globally recognized fraud solution and all its strengths to institutions that were previously constrained to consume only from smaller and local vendors.”

Key features and advantages of ACI’s new offering:

• Time to Market: The ACI solution can be up and running within days.
• Scalability: The solution can be scaled up and down to handle seasonality.
• Security: Customers benefit from enhanced security compared to running in an on-premise environment.
• Value-added services: Customers benefit from an increased number of value-added services as ACI’s applications and capabilities work in tandem with Microsoft’s capabilities.
• Compliance: All compliance requirements such as PCS/SLA can be automated.

*Data Sovereignty: Cloud deployment allow customers to fulfil data sovereignty requirements.