ING Direct, the Internet and phone banking arm of Dutch banking group ING, is implementing ACI Worldwide's anti-money laundering and fraud detection software, Proactive Risk Manager, across its operations in Australia, France, Italy, Spain, Canada, US and the UK.
ACI says its automated fraud detection software will provide the direct retail bank with an enterprise-wide view of transaction monitoring. The system uses neural networks and custom risk profiles to improve the rate and speed of identifying fraudulent activity.
Richard Launder, managing director of ACI Worldwide, says: "By taking an enterprise-wide approach, organisations are able to see more in a shorter amount of time, minimise losses and help preserve their customer relationships."
As well as detecting suspicious and fraudulent activity, ACI says its software will help ING Direct comply with local and international anti-money laundering regulations.