Digital payment software and solutions provider, ACI worldwide has announced that it is extending its partnership with Aegean Airlines with the aim to drive further revenue growth and fight the growing threat of online fraud.
Aegean Airlines will enhance its online fraud management and prevention efforts by leveraging ACI Secure eCommerce solution. The solution offers the airline a multi-layered fraud strategy that uses a combination of consortium intelligence, profiling, machine learning and rules – an approach that enables merchants to separate legitimate customers from fraudsters.
“The complex, multi-channel, international nature of the travel market makes it a key target for fraudsters and airlines frequently experience some of the highest fraud to turnover ratios of any industry. ACI has worked with Aegean to implement a highly customized version of its online fraud prevention solution, which continues to deliver strong, demonstrable benefits, enabling the airline to maximize revenue while protecting both Aegean and its customers from fraud.” said Andrew Quartermaine, Vice President of ACI Worldwide.
Michalis Kouveliotis, CFO, Aegean Airlines said on the announcement, “ACI has guided us through a number of difficult challenges over the years and has helped our business to flourish. The partnership with ACI has enabled us to drastically reduce our risk levels and costs while supporting the expansion of our existing and new sales channels, as well as tackling the exceptional challenges presented by Covid-19. Their risk analysts continue to guide us, providing valuable day-to-day support for our fraud teams.”
Covid-19 pandemic has hit the airline and travel companies the hardest. Aegean Airlines has also seen a decline in sales due to the same and fraudsters have been quick to test its defenses. Aegean and ACI have worked together to adapt to the airline’s fraud strategy and close down opportunities for fraud.
– AK Source – Business Wire
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