State Bank of Mauritius Combats Card Fraud With ACI Worldwide

Wednesday 9 June 2004 16:00 CET | News

State Bank of Mauritius Limited (SBM), has licensed ACI Worldwides Proactive Risk Manager to combat card fraud across its issuing and acquiring business. SBM is deploying the solution as an extension to its present ACI BASE24 system to reduce the banks exposure to risk and improve operational efficiency. Through expertly defined rules and near real-time detection, ACI Proactive Risk Manager ensures a fast, accurate and flexible response to the evolving nature of card fraud in Mauritius. ACIs fraud detection solution is compliant with Visa and Mastercard requirements for fraud monitoring, providing cardholders with increased assurance in the event of fraudulent activity. SBM anticipates greater staff efficiency in detection and handling of fraudulent cases due to the advanced workflow tool within the system. This will increase operational efficiency and reduce the costs associated with fraudulent activity. In November 2003, SBM became the first bank in Mauritius to offer prepaid mobile top-up services at ATMs supported by ACIs BASE24 software. The service allows top-up users to request a pay-as-you-go top-up from any SBM ATM. Customers of other banks can also access this service at SBM ATMs. ACI software validates that the account holder has sufficient funds and authorises the transaction.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce