Athens-based Innovative Solutions and Services (INSS) has chosen to use Alaric Systems’ Fractals fraud prevention solution and Authentic Payments switching technology to deliver services to financial institutions, telecommunications companies and other major corporate clients throughout Greece, Turkey and the Middle East.
Alaric was chosen because of its global track record in developing and delivering high performance payment engines and fraud prevention products. In addition, the unique flexibility of Alaric’s open technology platform ensures that it delivers a next-generation alternative to aging and outmoded legacy payment systems. Authentic Payments is a modern and highly configurable electronic funds transfer (EFT) authorisation and routing system, specifically designed for the card payments market. Fractals is a fraud detection and prevention framework which can operate in real time, close to real time and batch detection modes.
INSS founder and managing director Leonidas Patrikios said: “Against such an adverse economic backdrop banks, retailers and processors require innovative and sophisticated payment switching and fraud detection services. With a global reputation for first rate customer service combined with an in-depth knowledge of our market and class leading products, Alaric is the perfect strategic partner for INSS. It is an ideal combination that delivers real and substantive value for our customers by enabling them to manage their electronic payment systems in a secure, flexible and effective environment. As a result we are confident that demand for this combined offering will prove to be extremely strong.”
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