Designed specifically to improve and automate operational processes, this latest version features automated actions, flexible alert ordering and queuing. The additional functionality provides fraud departments greater versatility and efficiency, as well as enabling users to prevent and address the fraud more quickly.

Proactive Risk Manager enables risk operations to highlight, stop and manage fraudulent or suspicious activity, in both real-time and near real-time, through the combination of expertly defined rules and a custom-designed neural network model. This latest release includes an auto action enhancement which allows rules to automatically carry out an action such as blocking a card if the rule fires for a specific transaction. As a result, financial institutions are able to attend to the alert more quickly, reducing the cost and losses related to manual operations.

New workflow functionality provides a view to the alerts pending in queues that are assigned to individual users. As a result, any risk department benefits from greater control and flexibility to manage alerts. Instead of generating alerts pre-defined by the system, enhanced workflow allows users to determine how they want to view and prioritise alerts. The result is a more efficient process as false positives are avoided - allowing users to respond more quickly to real risk.

Jim Woodworth, director of business solutions at ACI Worldwide EMEA, said, "Organised crime schemes are hitting financial institutions harder and faster than ever before, where a single attack can wipe out an account in seconds. Today's risk departments need to work proactively to identify and stop fraud early on before significant losses are incurred. To this end, systems, processes and procedures must work in a seamless, automated and real-time manner. ACI's latest release can achieve just this, giving the financial crime unit greater flexibility and control."

Proactive Risk Manager is used to address risk management needs at 112 customer sites worldwide including Alliance and Leicester, BNP Paribas, National Australia Bank and ING Direct. More than 1,600 financial institutions receive risk management services from processors using Proactive Risk Manager.