Payment software vendor ACI Worldwide has announced that First National Bank is extending its contract with ACI for another five years. An ACI customer in South Africa since 1997, FNB will continue to leverage ACI’s payments software to route and switch ATM and POS transactions across its network.
In addition, FNB has licensed ACI Proactive Risk Manager to detect and prevent merchant fraud. The adoption of ACI’s fraud monitoring software was necessary to comply with Visa’s fraud mandate requiring banks to implement an automated risk management solution for acquiring.
FNB’s BASE24 system is deployed in Johannesburg to provide processing for South Africa, with a separate logical node created to process transactions from FNB’s subsidiary in Botswana. In addition to compliance with Visa’s fraud mandate, FNB is using ACI Proactive Risk Manager to enhance merchant risk management, thereby further reducing the bank’s risk profile.