The ai Corporation acquires SmartCentric to create a global cloud based omni-channel (B2C and B2B) payment processing, risk management and data analytics platform
- The ai Corporation offers a unique managed service offering covering technology, outsourced fraud management and detailed data analytics.
- ai now covers over 15 million B2B active cards over 45 countries, in over 200,000 sites and 90+ product types.
The ai Corporation (ai) has acquired SmartCentric Technologies International Limited (SmartCentric) for an undisclosed sum. SmartCentric, which was established in December 2002, is a specialist solutions company, focused 100% on secure payments and transactions, particularly in the Fuel Card market.
Dublin-based SmartCentric has been delivering solutions to the fuel industry for over 15 years, across multiple countries. In the last number of years, SmartCentric has invested significantly in its product portfolio and a cloud-based SaaS card management solution, providing an online authorization system, which supports offline activity based on agreed business rules.
After working together on several projects, the ai and SmartCentric management teams concluded that bringing the businesses closer together would provide a unique and compelling offering for the market. ai’s expanded cloud-based end-to-end payments solution is already attracting attention with new contracts recently being awarded in the Middle East (large reseller with 60 banks), in the US and South Africa, for two very large globally recognized fuel card operators.
Kieran Timmins, CEO of SC, said, “The combination of the SmartCentric’s cloud-based industry leading issuance and payment processing platform for fuel cards and ai’s payment processing and fraud detection solutions, provides a compelling, integrated solution that will deliver a comprehensive solution for our customers and a deeper experience for merchants and network partners.”
Dr Mark Goldspink, CEO of ai, said, “The ai Corporation’s unique end-to-end offering is constructed to target several gaps in the market place, namely:
- Providing state of the art business rules technology that allow customers to take control
- Offering a flexible and agile solution, so new customer features can be deployed quickly
- No CAPEX with “pay as you go” business model (controllable OPEX)
“ai enables our partners to do what they do best, running their businesses using the rich features of our payment platform, with the confidence that their transactions are protected by a best-of-breed fraud prevention system.
“Although this is technically an acquisition, ai and SmartCentric have been moving closer together for many months. The addition of SmartCentric to our existing suite of payment processing and fraud detection solutions has already received an enthusiastic reception from our customers.”
About The ai Corporation Limited (ai)
State of the art” technology that allows our customers to take control and grow profitably. Founded in 1998, ai has a long track record of providing solutions to some of the world’s largest financial institutions, international merchants and other major payment service providers.
Take Control - Simply Stop Fraud - today, our unique self-service fraud detection solutions are considered by many industry “thought leaders” to be the best in the world. Founded in 1998, ai has a long and exciting heritage as one of the world’s leading companies in fraud and risk management. Our unique solutions, including our new “state of the art” machine learning/A. I, protect and enrich payments experiences for more than 100 banks, over three million multi-channel merchants and over 300 million consumer cardholders. We also monitor over 25 billion transactions and authorisations each year. Our “state of the art” machine learning/A.I. analytical solutions are re-usable assets and as well as optimise risk management, they are flexible enough to be applied to other business processes that require detailed consumer insight for marketing or pricing.
Take Control - Simply Manage Omni-Channel Payments - over the last 12 months ai has acquired a payment gateway and an issuing platform. The reason for doing this was the growing demand from our customers for a “one stop shop” – an end to end payment capability. As the payment value chain continues to converge, we are positioning ourselves to take advantage of the evolution of payments digitations, by exploiting our fraud and analytical capabilities. As well as managing the payment transactions securely through our cloud based platform, our recent FAC approval for a European Money License. This means we can act as a payment facilitator for our business partners, allowing them the luxury of rapidly launch new alternative payment types into the market place. A truly end to end offering, using state of the art machine learning and A.I.
Trusted around the Globe - ai has longstanding business partnerships all over the world, who enjoy outstanding products and services, which are based on making things simple for them – they are self-service and easy to use. This means our customers can make and implement decision immediately, unlike many of our competitor’s products. These innovative easy to use self-service/self-learning solutions have been deigned to allow our customers to take control by focusing on improving operational excellence. By doing this we constantly strive to help our business partners create superior returns on their investments with our solutions.
Find out how ai can provide innovative technology that will help you grow profitably by visiting www.aicorporation.com