Aegean Airlines Partners with ACI Worldwide to Maximize Revenue and Combat eCommerce Payments Fraud
October 27 2020 - 3:00AM
Business Wire
Greece’s flagship carrier to utilize
award-winning ACI Secure eCommerce solution to fight growing threat
of online fraud during COVID-19 pandemic and drive revenue growth
and international expansion
ACI Worldwide (NASDAQ: ACIW), a leading global provider of
real-time digital payment software and solutions, today announced
it is extending its partnership with Aegean Airlines to drive
further revenue growth and fight the growing threat of online
fraud.
The Greek flagship carrier will enhance its online fraud
management and prevention efforts by leveraging the ACI Secure
eCommerce solution, which offers the airline a multi-layered fraud
strategy that uses a combination of consortium intelligence,
profiling, machine learning and rules—a powerful approach that
enables merchants to separate legitimate customers from
fraudsters.
Aegean Airlines is the largest airline in Greece and a Star
Alliance member. It connects Greece with 120 international
destinations in 44 countries. ACI has been a partner to Aegean
since 2014; the collaboration has enabled the airline to maximize
revenue while protecting both Aegean and its customers from fraud.
Since go-live, an average of 97 percent of all confirmed fraud has
been captured; in 2019 alone, this translated to savings of €1.4
million. The confirmed fraud rates are now averaging less than 0.06
percent.
“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,” said Andrew Quartermaine, vice president, ACI
Worldwide. “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.”
Like other airlines around the world, Aegean has seen a decline
in sales this year due to the pandemic, and fraudsters have been
quick to test its defences. Aegean and ACI have worked together, at
speed, to adapt the airline’s fraud strategy, close down
opportunities for fraud and ensure genuine customers are handled
fairly and with sensitivity.
“ACI has guided us through a number of difficult challenges over
the years and has helped our business to flourish,” commented
Michalis Kouveliotis, CFO, Aegean Airlines. “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.”
To find out more about the collaboration between ACI Worldwide
and Aegean Airlines, please read the case study, Flying Ahead of
Online Fraud with ACI Fraud Management.
About ACI Worldwide
ACI Worldwide powers digital payments for more than 6,000
organizations around the world. More than 1,000 of the largest
financial institutions and intermediaries, as well as thousands of
global merchants, rely on ACI to execute $14 trillion each day in
payments and securities. In addition, myriad organizations utilize
our bill presentment and payment services. Through our
comprehensive suite of software solutions delivered on customers’
premises, through the public cloud or through ACI’s private cloud,
we provide real-time payment capabilities and enable the industry’s
most complete omni-channel payments experience.
© Copyright ACI Worldwide, Inc. 2020
ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and
all ACI product/solution names are trademarks or registered
trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in
the United States, other countries or both. Other parties’
trademarks referenced are the property of their respective
owners.
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Dan Ring dan.ring@aciworldwide.com 781-370-3600
Katrin Boettger katrin.boettger@aciworldwide.com 0044 (0)7776
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