ACI Worldwide, a Real-Time Payments and Virtual Payment Software Provider, Receives Approval for its Learning Tech

ACI Worldwide (NASDAQ: ACIW), an international provider of real-time payments and virtual payment software solutions, has revealed that the patent for its incremental learning tech  – an innovative approach to machine learning – received “full” approval.

Incremental learning tech is a key part of ACI Fraud Management and significantly improves fraud protection for merchants and financial service providers. Although traditional machine learning models have to be “re-trained” as fraud patterns continue to change, models using incremental learning “make small adjustments on an ongoing basis, allowing the model to adapt itself in production when new behaviors are observed,” the announcement explained.

“Fraud attempts on financial institutions and merchants continue to rise globally, while fraud patterns are evolving more rapidly than ever,” stated Debbie Guerra, Head of Merchant Segment, ACI Worldwide.

Debbie added that incremental learning is “a key development in the fight against fraud – a technology that is highly adaptable and responsive to emerging threats. Its full patent approval is a recognition of the innovative approach of our dedicated data science team.”

Jimmy Hennessy, Head of Data Science, ACI Worldwide, remarked:

“As the first solution provider globally to roll out this incremental learning technology, ACI has set itself apart in a competitive and rapidly advancing fraud prevention market. Incremental learning is a realization of our multi-year investment and will strengthen our sophisticated fraud monitoring and prevention solutions, helping customers to dramatically reduce payments fraud.”

ACI Worldwide has over 20 years’ experience in designing and implementing machine learning models, which have long been “a fundamental element within ACI Fraud Management.”

The announcement also mentioned that machine learning models, “combined with incremental learning technology, are capable of analyzing large amounts of complex data to identify fraudulent behaviors and alert future suspicious transactions, enabling merchants and financial institutions to minimize fraud loses while keeping revenue high.”

As noted in a release, ACI Worldwide is an international software firm that offers “mission-critical real-time payment solutions to corporations.” Clients use their “proven, scalable and secure solutions to process and manage digital payments, enable omni-commerce payments, present and process bill payments, and manage fraud and risk.”

They combine their international footprint with local presence “to drive the real-time digital transformation of payments and commerce.”

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