Westpac New Zealand, one of the country’s largest full service banks, has implemented ACI’s Proactive Risk Manager for enterprise risk solution on IBM System z. Westpac New Zealand chose the ACI solution to strengthen its fraud detection and prevention capabilities, in order to protect against the rising volume of fraudulent activities occurring worldwide. The bank required a cost-effective and comprehensive solution to offer the greatest protection to its customers.
Terry Mortensen, head of fraud & security at Westpac New Zealand, said: “Within a few days of implementing ACI’s Proactive Risk Manager, it alerted us to fraud, which we were then able to prevent. Immediately, we were confident in assuring our customers, and prospective customers, that we can provide them the risk-free service they need in the current financial climate.”
Westpac New Zealand implemented real-time rules to monitor potentially suspicious transactions within the authorization process, therefore identifying and preventing fraud. The configurable rules scoring engine gives the bank the agility to respond to changing fraud patterns.
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