Aconite’s new risk management application, Risk Status Translator (RST), has been shortlisted in the EPCA/ECR Excellence in Payments Innovation Awards 2008 in the category of “Most Innovative Payments Software”.
RST helps card issuers to fully exploit the fraud and risk management benefits of EMV migration by empowering them to take control of card behaviour, post issuance. EMV card usage is controlled by parameters held on the chip; these parameters, and therefore card behaviour, can be modified after the card has been issued using EMV scripts.
RST acts as a link between fraud and risk management processes and the scripting engine, automatically converting the results of the fraud or risk analysis into a post-issuance scripting action. This allows each card in a card base to be individually managed with little or no manual intervention, enabling a bank to rapidly change a card’s behaviour and providing improved card control and reduced risk.
“We are delighted that Aconites solutions have once again been selected by the EPCA/ECR judging panel in the category of most innovative payments software. We have listened closely to our customers and developed a solution to meet their evolving needs; this award provides recognition of both our commitment to our customers and our ability to respond fast to industry changes,” says Patrick Regester, executive vice president, Sales and Marketing, Aconite.
The winner will be announced at the 7th International EPCA Conference, taking place between 31 March and 2 April in Bruxelles.