NCR (Alaric) Authentic
Overview Alaric’s flagship offering is a relatively new Java-based payments platform, Authentic. The company made steady progress with this and had around 40 clients when it was acquired by NCR in December 2013. Although not as well known as some of its competitors, Alaric had built a good international user list and its system had been chosen by Ukranian Processing Center to deliver payment processing services to banks in Central and Eastern Europe. The company also has a fraud detection system, Fractals.
Strengths
• A relatively new, Java-based and object-oriented suite comprising payments engine, Authentic, and fraud detection software, Fractals.
• Stability and payments focus. • Some other productive partnerships with local companies,
including Stratus Technologies in
Mexico (which had contributed ten users by the end of 2012) and Bottomline Technologies (which integrated Authentic to its Direct Faster Payment Service (FPS) solution.
• Good delivery track-record and international mix of reference customers.
• Sales reach of NCR. NCR also has a an extensive partnership prgram to which Alaric’s partners have been added.
Corporate overview
Alaric was set up in 1997 in the UK by a number of experienced payments system professionals. It provided support services for the AST/Transact-derived UM20 system, which covered funds transfer and card processing. The development of the new system commenced in 1999. The company opened offices in the US, Australia and Malaysia, with a development centre in the latter, set up in 2007 and with 32 staff here by the end of 2010 (by this stage there were 35 staff in the UK). The split between Kuala Lumpur and London remained around 50:50. Common competitors have been ACI, Fidelity and S1. The acquisition of the latter by the former threw up some opportunities, particularly within the S1-derived Postilion base (Alaric recruited a handful of the Postilion partners). The company claimed to have increased revenues by 40 to 45 per cent in each of the last few years before it was acquired. It had a centre focused on analytics (for fraud detection) in Rome, opened in late 2012, and this built on a partnership with a university here. By early 2013, Alaric was evaluating a full-scale subsidiary in the US and an office in the Middle East (with a Dubai office subsequently listed on its website). Around 94 per cent of its revenues at this time were from outside the UK. Following the acquisition by NCR, Alaric has been fully integrated into NCR, within the CxBanking portfolio. ‘We like what we see there and we’re not about to turn it upside down and change all of it,’ said Robert Johnston, global head of marketing, enterprise software at NCR, at the time of the deal.
Mark Benjamin was named as the President and COO in September 2016. He will be responsible for Sales, Industry Solutions Management, Product Development, Services and Supply Chain Operations. Benjamin was with Automatic Data Processing (ADP) for 24 years prior to his appointment.
Payment Systems & Suppliers Report |
www.ibsintelligence.com 45 Weaknesses
• Relatively low profile. • The need to be incorporated into the much larger NCR while retaining the expertise and drive of the original company.
• Not the breadth of offerings of some other suppliers; no uptake for wholesale banking to date.
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