ACI Worldwide, a leading global provider of real-time digital payment software and solutions, announced it is extending its partnership with Aegean Airlines to drive further revenue growth and fight the growing threat of online fraud.
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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.”
