ACI Worldwide and Spectrum to partner against fraud

SMS messages to identify and prevent fraud

ACI Worldwide, a provider of payment systems, announces a partnership with Spectrum Message Services to deliver ACI mobile alerting powered by Spectrum’s MoneyGuard product (view press release). The solution aims to use interactive SMS messages to identify and prevent fraud. Organizations utilizing ACI mobile alerting will be able to identify suspicious transactions and send an SMS message to the customer containing details of the transaction. If that transaction is fraudulent the customer can respond with a ‘BLOCK’ message and the card can be frozen.

Customers can also ask to be notified of transactions that meet pre-defined fraud prevention parameters.  These include international charges, transactions of more than a certain value or online charges. They can also use the tool and its mobile browser extensions to request balance inquiries, change credit limits, change personal alert thresholds, or receive one time passwords. Hungary’s OTP Bank has been using the MoneyGuard system for 12 years and began the service when the bank was experiencing high fraud rates. 

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