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It is refreshing to see an organisation at the heart of the Greek market with such a dynamic vision

Athens based INSS Ltd. (Innovative Solutions and Services Limited) has chosen to use Alaric Systems acclaimed Fractals fraud prevention solution and Authentic Payments switching technology to deliver services to financial institutions, telecommunications companies and other major corporate clients throughout Greece, Turkey and the Middle East.

Alaric was chosen, as a strategic partner, because of its global track record in developing and delivering high performance payment engines and fraud prevention products. In addition, the unique flexibility of Alaric’s open technology platform ensures that it delivers a next-generation alternative to aging and outmoded legacy payment systems. Authentic is internationally recognised as a modern and highly configurable EFT authorisation and routing system, specifically designed for the card payments market. Fractals too is established globally as a class-leading fraud detection and prevention framework which can operate in real time, close to real time and batch detection modes.

By utilising such class-leading technology coupled with a highly experienced team of high calibre payments professionals, INSS believes that it can accelerate its penetration of the Greek market. Commenting on the agreement INSS founder and Managing Director Leonidas Patrikios said, “Against such an adverse economic backdrop banks, retailers and processors require innovative and sophisticated payment switching and fraud detection services. With a global reputation for first rate customer service combined with an in-depth knowledge of our market and class leading products, Alaric is the perfect strategic partner for INSS. It is an ideal combination that delivers real and substantive value for our customers by enabling them to manage their electronic payment systems in a secure, flexible and effective environment. As a result we are confident that demand for this combined offering will prove to be extremely strong.”

For his part Alaric Director Peter Parke welcomed these comments adding, “Naturally I am delighted that INSS has chosen Alaric to deliver payment and fraud prevention systems to drive its high quality service delivery. It is refreshing to see an organisation at the heart of the Greek market with such a dynamic vision focussed on delivering innovative and high quality solutions both for now and for the future when the economic conditions have improved. We are confident that this unique approach will be extremely well received.
“INSS is one of a number of organisations globally that has now recognised the positive impact of using Alaric’s unique technology for delivering next-generation solutions. From Australia to the Far East and from Europe to the US, Alaric Systems is proving to be the payment and fraud prevention solutions company of choice for successful, forward-thinking institutions and service providers.”


About Alaric (

Headquartered in London, with international offices in Malaysia, Australia and the U.S., Alaric is a leading global supplier of advanced technology payments products and services. Alaric solutions for both enterprise wide and card fraud detection benefit from the company’s extensive experience in both SOA-based and conventional multi-channel payments integration, card authorization, switching and routing.
Alaric's products are fully platform independent and scalable to meet the needs of the largest financial institution, service provider or retailer. Used in combination, Alaric’s Fractals and payments messaging products offer ease of integration, throughput and detection performance that is unparalleled in the market.

Fractals is an intelligent fraud detection and prevention framework suitable for card issuers, acquirers and payments processors. Proprietary mathematical models enable illegal transactions to be detected and stopped before a transaction is completed. The Fractals Rules Engine enables fraud analysts to create and deploy powerful fraud detection rules within minutes, ensuring that fraud losses are substantially reduced or even eliminated. In the rapidly evolving world of electronic payments, Fractals benefits from continuous investment and R&D, ensuring that it remains at the forefront of fraud detection.

Authentic is a modern ultra high performance EFT authorisation and routing system. Unlike conventional payments processing software Authentic was designed to absorb change with ease. It combines unrivalled flexibility of deployment with efficiency of processing. Providing the payments engine for global networks and large processors, Authentic has achieved in excess of ten thousand transactions per second in recent benchmark tests.

For Further Information Please Contact:

Peter Parke
Alaric London
Tel: +44 (0) 20 7593 2200


Leigh Richards
The Right Image
Tel: +44 (0) 845 561 7586

About INSS Ltd (

INSS is a newly founded company, present in the South European market offering complete services for financial institutions, Telecommunications companies and Big Enterprises in both the Public and Private Sectors.

The personnel of the company have more than 20 years of experience and expertise in the areas of Information Technology, Output Management and Payment Systems and have had a lot of experience in managing complex, multidisciplinary and complicated projects and transactions.

The proven experience of our executives, our investments in Greece in such an adverse economic period, combined with the vision of creating an innovative service model for customers, aims at covering the needs in a market that requires direct, modern, flexible efficient services and effective solutions both time and cost-wise.

INSS collaborates with international software houses in the areas of Information Technology, Payment Systems and Digital Printings, while striving to offer the greatest level of security to their customers , which is evident via our ISO:9001, ISO:14001 and our underway Datacenter PCI-DSS certification.

For Further Information Please Contact:

Leonidas Patrikios
Tel: +30 211 10 49 920


Giannis Garifallakis
Tel: +30 211 10 49 922

This press release was distributed by ResponseSource Press Release Wire on behalf of Alaric in the following categories: Business & Finance, Retail & Fashion, Computing & Telecoms, for more information visit