Aconite wins EPCA/ECR Excellence in Payments Innovation Awards 2008

Aconite, the leading provider of EMV and smart card software solutions and professional services, today announced that their new risk management solution, Risk Status Translator (RST), has won the category of “most innovative payments software” in the EPCA/ECR Excellence in Payments Innovation Awards 2008. The award ceremony was held on 1st April in Brussels at the EPCA Payment Conference 2008.

Aconite’s award-winning RST is designed to help card issuers exploit further the fraud and risk management benefits of EMV migration. It acts as a link between the fraud and risk management processes and the scripting engine, converting the results of the fraud and/or risk analysis into a post-issuance action to be performed.

The benefit of RST for card issuers is that it automates the decision making process regarding the sending of scripts which alter card parameters after a card has been issued. It 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 ultimately providing improved card control and reduced risk.
RST is already being deployed by Investec Private Bank South Africa to work alongside their recent deployment of Aconite’s EMV Script Processor and Transaction Enabler solutions.

Patrick Regester, EVP Sales and Marketing at Aconite said “We are delighted that Aconite’s solutions have once again been selected by the EPCA/ECR judging panel as the winner in the category of most innovative payments software. This award and the launch of RST recognises Aconite’s capability to listen and respond to market needs, and places us in a much stronger position to help banks protect their card revenues from fraud and bad debt”