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August 21, 2005

ING Direct and ACI announce fraud detection agreement

ING Group's online banking unit has said that it will implement ACI Worldwide's anti-money laundering and fraud detection software across much of its operations around the world.

By CBR Staff Writer

The direct retail bank will use ACI’s risk management kit in a bid to ensure low fraud loss rates and aid compliance with international and local anti-money laundering regulations. The software, Proactive Risk Manager, will be used in Canada, the U.S., the UK, Australia, France, Italy and Spain

According to ACI, the software provides the flexibility required for ING’s implementation within the seven countries while maintaining worldwide operational synergies via a single solution. ACI also said its software offers a user-friendly analysis and review solution with advanced levels of analytics to monitor transactions.

We are seeing a pressing industry need for an enterprise-wide risk management solution that can take a single view of the business, said Richard Launder, managing director of ACI. By taking an enterprise-wide approach, organizations are able to see more in a shorter amount of time, minimize losses and help preserve their customer relationships.

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