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BMO Partners with ACI Worldwide to Drive Payments Modernization

Oct 18, 2018

NAPLES, Fla.--(BUSINESS WIRE)--Oct. 18, 2018-- ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, along with BMO Financial Group (BMO), announced today that BMO has rolled out ACI’s world-class payments hub within their business in just nine months, integrating a number of BMO’s core payment systems and driving efficiencies for customers.

A thought leader in driving innovation and improved banking experiences, BMO is involved in the modernization of national payment ecosystems in Canada and the United States. A modernized infrastructure will be critical in supporting the rapidly changing expectations of customers in Canada, the U.S. and around the world—providing access to faster and simpler payment options, the ability to leverage richer data and analytics, and allowing for new payment capabilities without compromising security.

“The launch of our payment hub is a cornerstone of our payment modernization strategy and a very exciting step forward for BMO and our clients,” said Sharon Haward-Laird, Head, North American Treasury & Payment Solutions, BMO Financial Group. “Our speed-to-market differentiates BMO and has been a significant win that has positioned us well to adapt quickly to shifting demands and enable the new payment rails we are working toward in the coming months. It’s all about delivering faster and more efficient payment experiences for clients and with the hub, we’re well positioned to do that.”

ACI’s UP Real-Time Payments solution is the only global solution that allows financial institutions to address their RTGS (Real-time Gross Settlement), SWIFT messaging, ACH and real-time payments needs with a single, universal offering. ACI enables faster time to market, better management of cash flow, improved secure payments and fraud detection capabilities, simplified connectivity to new payments types, and transparency for customers in tracking their payments.

“Leading financial institutions have relied on ACI for more than 30 years and by utilizing ACI’s world-class payments hub, BMO will be well positioned to offer new capabilities as payments evolve based on customer needs,” said Mandy Killam, Group President, ACI Worldwide. “As modern digital innovations are being introduced, ACI is at the center of facilitating this transition to open, real-time, digital banking.”

ACI will be showcasing real-time payments and open banking at Sibos, October 22-25, in Sydney. For more information, visit ACI at Sibos. ACI will also be at Money20/20, October 21-24, in Las Vegas and at AFP, November 4-7, in Chicago. For more information on these events, please click here.

About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $765 billion of July 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

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. 2018.
ACI, ACI Worldwide, ACI Payment Systems, the ACI logo, ACI Universal Payments, UP, the UP logo, ReD, PAY.ON and all ACI product 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.

Source: ACI Worldwide

ACI Worldwide
Dan Ring, 781-370-3600
dan.ring@aciworldwide.com
or
BMO Financial Group
Matthew Duffin, 416-867-3996
matthew.duffin@bmo.com