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Alaric Systems has become a leading global supplier of payments processing and fraud prevention solutions to financial institutions, processors and retailers worldwide.
Supplier of payments processing and fraud prevention solutions.
Alaric Systems was sold to a US subsidiary of NCR Corporation for consideration of $84m.
To become technical market leaders in the payments market.
Alaric’s ‘Authentic’ transaction processing solution and ‘Fractals’ fraud prevention detection solution allows its customers in the USA, Europe, Middle East, Australia and Asia to securely process ATM, POS, eCommerce and mobile payment or banking transactions.
NVM first supported Alaric’s Mike Alford (Managing Director) and Peter Parke (Director) in 2000, with investment at an early stage of development when it was apparent that Alaric’s solutions had significant potential. The company was developing an innovative new Java product suite based on the latest technologies to meet a growing demand for card authorisation/switching and fraud detection solutions.
NVM has cumulatively invested a total of £5m to support the development of Alaric.
The business has grown rapidly over recent years and its products are now recognised as technical market leaders. They power more than 1.6bn transactions a month across 30 countries.
Alaric was sold to a US subsidiary of NCR Corporation in 2013, representing 4.0 times money on NVM’s investment.