ACI Worldwide has forged an alliance with Kinexys by J.P. Morgan to address the rising menace of fraud associated with real-time payments. Under the partnership, the Kinexys Liink’s Confirm application has been integrated into the Fraud and Financial Crime platform of ACI, thereby facilitating the verification of account and payee information ahead of completion of the transaction.
With the widespread adoption of real-time payment systems around the world comes increased exposure to fraud risks. Real-time payments cannot be reversed in contrast to other means of effecting a payment. This has led to the necessity for prior account verification. The partnership seeks to facilitate the detection of fraudulent activities before the transaction takes place through the incorporation of such account verification in the payment process.
According to industry reports, APP fraud already results in billions of dollars’ worth of losses annually and this trend will only increase drastically in the coming years. The majority of such fraud cases are linked to real-time payment channels, making the prevention of such threats necessary.
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Kinexys Liink operates as a global, blockchain-based data-sharing network, allowing institutions to securely validate account ownership and related information across more than 70 countries. Its integration into ACI’s platform enables real-time confirmation that an account is valid and matches the intended recipient, all without adding friction to legitimate transactions.
“By integrating Kinexys Liink’s Confirm application directly into ACI’s fraud management platform, we’re making it easier for institutions to meet evolving account validation requirements and help protect their customers from fraud. Together, we’re supporting institutions as they adapt to a rapidly changing landscape and build greater trust in every transaction,” said Gloria Wan, General Manager of Kinexys Liink at Kinexys by J.P. Morgan.
“Instant payments change the economics and the timing of fraud,” said Marc Trepanier, director of analytics and optimization for fraud and financial crime at ACI Worldwide. “When payments settle in real time, verification must have happened prior to the transaction in real time as well. Embedding payee confirmation into the payment flow gives banks the ability to stop fraud before it happens, while supporting the scale and speed customers expect.”
The integration reflects a broader shift toward proactive, real-time fraud prevention as financial institutions adapt to the demands of modern payment ecosystems.