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
Head Office: 5, Merchant Square, London, W2 1AS, UK Tel: +44 (0)20 7593 2200 Email:
nav.kullar@ncr.com Other Offices: NCR’s worldwide network of offices Website:
www.ncr.com Twitter: @ncr Contact: Nav Kullar, marketing manager Founded: 1997 Ownership: NCR Corporation Number of staff: 10,000+ in NCR, 115+ in the Alaric team Number of clients: >40 Financials: Revenues to year end 31st March 2012 £8.6 million, EBITDA £2 million (Alaric’s last full year as an independent company). Principal partners: Mastercard, MII (Indonesia), Mistral Mobile, Oracle, Stratus, Thales, Visa Payments products: Authentic for switching, multi-channel device driving and payments services hub; Fractals for transaction profiling for fraud detection and prevention Categories: Retail payments processing, card management (credit, debit, smartcard, prepaid), fraud management
Summary history 1997
Alaric is set up by a number of former AST/S2 employees with backing from two venture capital companies, Foresight Group and NVM Private Equity (which remained in place until the arrival of NCR, the latter providing Alaric’s chairman). Two years earlier, S2 Systems, the software subsidiary of Stratus Computers, had acquired UK-based AST/Transact and its proprietary UM20 payments system running on a Stratus VOS platform. S2 decided to replace UM20 with its OpeN/2 platform. A number of ATS staff were made redundant. Alaric was set up by ex-staff to offer support to the UM20 customers, including adding Y2K compliance. Alaric was king of the Visigoths and the name was apparently chosen as the new company wanted to ‘sack the S2 empire’. S2 was later bought by ACI (2005).
1999 Aware that it was relying solely on maintenance revenue, Alaric set about building a new payments platform. Two UM20 customers were recruited as development partners/pilots: Cornèr Banca in Switzerland, the third largest bank in the country, and Yorkshire Building Society in the UK. The development was done in Java and the system was launched as Authentic.
2001
2008 2010
2013 2013
Alaric adds a Java-based fraud detection system, Fractals. Cornèr Banca signs for this. Signs partnership with Oracle.
2005 Alaric has a major breakthrough when American Express signs a global licence for Authentic. S2 and ACI were beaten at the shortlist stage. Amex has standardised on the system and is now using it to support more than 600 million transactions per month.
Offices are set up in the US and Australia, plus a development centre in Kuala Lumpur. Alaric claims to have added 15 new-name customers during the year.
2012 Recruits a number of former S1 partners, following this company’s acquisition by ACI, and opens an analytics centre in Rome.
Establishes a Middle Eastern presence with the addition of a Dubai office. December – Acquired by NCR Corporation for $84 million.
Product suite
At the heart of Alaric’s offerings is the switching system, Authentic. It is meant to support integration of new payments channels and systems, with EFT switching and authorisation for card issuers, acquirers, switches and processors, supporting
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ATM and POS networks and other payment channels. It has been described by ex-director (and ex-ACI), Steve Lomax, as equivalent in scope to ACI’s Base24. There were around 35 users by the end of 2010. The solution is touted for wrapping legacy systems. Although originally designed for EFT switching, Alaric claims
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company details
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