BANRED transforms its payments environment while protecting its
investments in existing systems
NAPLES, Fla.--(BUSINESS WIRE)--Apr. 9, 2019--
ACI
Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic
payment and banking solutions, today announced that
BANRED, the largest interbank network in Ecuador, has selected ACI’s UP
Retail Payments to deliver a powerful digital payments experience to
banks and merchants in Ecuador.
Founded in 1994, BANRED provides technological infrastructure, a payment
network connectivity and manages the biggest ATM network in Ecuador. A
long-time customer of ACI, the company handles a high percent of
financial transactions and supports 90 percent of banks in the country.
BANRED’s decision to extend its relationship with ACI was based on its
desire to add new services and transform its payments processing
environment while maintaining business-as-usual for its clients. ACI’s
UP Retail Payments enables BANRED to unite current and next-generation
technology under the UP Framework - which allows the management and flow
of transaction volumes between systems based upon specific needs. As a
result, the company can now add more services that meet the demands of
end consumers, such as real-time interbank funds transfers (the first
step toward real-time, immediate payments). With new electronic
transactions running through BANRED’s associate members, the company now
has the flexibility to adapt to new customer demands and process
transactions efficiently.
“As the digital payments evolution continues to drive changing consumer
demands, we want to be at the forefront of that evolution,” said Pablo
Narvaez, CEO, BANRED. “We’ve worked with ACI for many years, and the
company plays a strategic role in our business by enabling us to offer
new and emerging payments solutions and services with seamless and
secure continuity. With ACI, we’re able to respond to changing customer
demands with efficiency. In fact, we have recently been recognized for
our business efficiency by Ekos Magazine, which placed us first
in the hardware and software category.”
Presented by the Ekos Corporation, Ekos de Oro Award winners represent
Ecuador’s strongest business leaders. BANRED’s “Gold” (first place)
award for business efficiency in the hardware and software category was
based on the results generated from the services using ACI’s UP Retail
Payments solution.
“As the payments network leader in Ecuador, BANRED is a key driver of
innovation in the country,” said Marco Bravo, vice president, Latin
America, ACI Worldwide. “We provide the secure foundation the company
needs to evolve its solutions for its clients. ACI’s UP Retail Payments
allows the company to balance the migration to digital systems all while
maintaining security and trust. With ACI, BANRED is advancing payments
in Ecuador into the era of fully integrated digital payments around
Latin America and the rest of the world.”
ACI’s UP Retail Payments bridges the features and functionalities of
current systems with next-generation technologies to deliver a
preeminent digital payments experience. The solution supports open API
strategies by leveraging the UP Framework’s API Manager capabilities and
provides a path for handling real-time payments. In addition,
organizations can continue business-as-usual while adding new services
and innovating in a protected environment.
About ACI Worldwide
ACI Worldwide, the Universal
Payments (UP) company, powers electronic
payments for more than 5,100 organizations around the world. More
than 1,000 of the largest financial institutions and intermediaries, as
well as thousands of global merchants, rely on ACI to execute $14
trillion each day in payments and securities. In addition, myriad
organizations utilize our electronic
bill presentment and payment services. Through our comprehensive
suite of software solutions delivered on customers’ premises or through
ACI’s private
cloud, we provide real-time, immediate
payments capabilities and enable the industry’s most complete omni-channel
payments experience. To learn more about ACI, please visit www.aciworldwide.com.
You can also find us on Twitter @ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2019
ACI, ACI Worldwide, the ACI logo, ACI Universal Payments, UP, the UP
logo and all ACI product/solution names are trademarks or registered
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is providing the following information in accordance with ACI's standard
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and enhancements are at the sole discretion of ACI and may be modified
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decision.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190409005377/en/
Source: ACI Worldwide
Dan Ring
E-mail: dan.ring@aciworldwide.com
Phone:
781-370-3600
Nidhi Alberti
Email: nidhi.alberti@aciworldwide.com
Phone:
781-370-3600
