Press Release

MIAMI, October 17, 2023 – ACI Worldwide (NASDAQ: ACIW), a global leader in mission-critical, real-time payments software, today announced that the Company has reached settlements with state money transmitter regulators and state attorneys general relating to the previously disclosed inadvertent transmission of ACH files to the ACH network during a test of the Company’s Speedpay bill payment platform in April 2021. The settlement agreements, along with ACI’s prior settlement with the Consumer Financial Protection Bureau (CFPB), resolve these state and federal regulatory investigations arising out of this error.

ACI entered into a consent order with 44 state money transmitter regulators and entered into agreements with attorneys general from 48 states, the District of Columbia and Puerto Rico, without admitting any wrongdoing, to avoid the expense and distraction of litigation. The requirements imposed by the federal and state resolutions are generally consistent with each other. Any consumer claims were previously resolved by the approval of a class action settlement. As with the CFPB consent order and the class actions settlement, ACI expects most of the costs associated with the state money transmitter regulators and state attorneys general settlements to be covered by third parties.

At all times during and after the April 2021 error, consumers’ money and personal information remained safe. Immediately after the event, ACI adopted additional controls to prevent such errors from occurring within the Speedpay environment. For additional information, review ACI’s July 27, 2023 press release about the Consumer Financial Protection Bureau consent order.

ACI is satisfied with the conclusion of this matter and is moving forward in the interest of its employees, shareholders and customers.
 

About ACI Worldwide
ACI Worldwide is a global leader in mission-critical, real-time payments software. Our proven, secure and scalable software solutions enable leading corporations, fintechs and financial disruptors to process and manage digital payments, power omni-commerce payments, present and process bill payments, and manage fraud and risk. We combine our global footprint with a local presence to drive the real-time digital transformation of payments and commerce.

© Copyright ACI Worldwide, Inc. 2023

ACI, ACI Worldwide, ACI Payments, Inc., ACI Pay, Speedpay and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.


Media Contacts:
Katrin Boettger: katrin.boettger@aciworldwide.com

Jaime Danielson: jaime.danielson@aciworldwide.com