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Raiffeisen International sign up to RiskNet fraud protection

Raiffeisen International Bank-Holding AG, one of the leading banking networks in Central and Eastern Europe, are stepping up its fight against card fraud by signing up to the RiskNet system, provided by The ai Corporation (aiCorp), a leading provider of card fraud detection and prevention software.

The deal was negotiated through aiCorp’s Central and Eastern European agents, The Communications Group (TCG), from their head offices in the Czech Republic. Rudolf Fontijn, CEO of TCG who is responsible for sales and first line support of RiskNet systems in Central and Eastern Europe said ‘We have worked long and hard with the team from Raiffeisen International to put this framework agreement together. This is a very positive ‘next step’ in the relationship with Raiffeisen International, which allows the current installed base of 3 countries to grow substantially. TCG is ready to roll out the RiskNet system to other Raiffeisen International branches that would like to strengthen their card fraud detection capabilities.’

Mark Carter, CEO of aiCorp, who joined TCG and Raiffeisen International at the signing of the agreement in Vienna, said ‘Raiffeisen International was already an important customer for us, the expansion of RiskNet into 15 banks in the group clearly demonstrates the strength of our fraud detecting and monitoring capabilities.’ He went on to say, ‘We have had a long and fruitful working relationship with TCG and they are ideally placed to oversee the installation of RiskNet.’

RiskNet already provides fraud protection for Raiffeisen International’s subsidiaries in Romania, Croatia and Kosovo. RiskNet comes in versions for both Acquirers and Issuers. The system monitors, detects and manages all types of card and payment fraud.