KNET, which is owned by all 11 banks in Kuwait and operates the Kuwaiti country-wide national payments switch, will utilize ACI’s market-leading ACI Proactive Risk Manager to monitor its customers’ banking activity in real-time—including acquiring channels, ATM, point of sale and eCommerce transactions, as well as domestic and international transactions across the network. Additionally, ACI will deliver ongoing fraud prevention consultancy for KNET.
KNET CEO Abdulla Al-Ajmi said: “A critical priority for the KNET member banks across Kuwait is to provide an advanced fraud prevention solution that leverages real-time technology to protect our clients and the millions of customers they serve,.”
“With the implementation of ACI Proactive Risk Manager, we are confident that we will be able to significantly enhance our current fraud monitoring capabilities and deliver an improved customer experience.”
ACI Worldwide Global Fraud and Data vice president Andreas Suma said: “KNET’s selection of Proactive Risk Manager highlights the need for sophisticated integration of fraud services to protect customers across all payment types in a consistent fashion.
“As fraud and payments are increasingly interwoven, the interoperability between ACI’s PRM fraud engine and our market-leading BASE24-eps payment engine provides universal protection for all payments in a unique multi-channel, real-time environment.”
Proactive Risk Manager is part of ACI’s UP Payments Risk Management solution, and leverages ACI’s UP Framework, a set of technologies that orchestrates all aspects of payment processing for any payment type, any channel, any currency and any network.
