Erste Bank Hungary Readies for Immediate Payments and Open Banking Era with ACI Worldwide
-Bank will utilize ACI’s award-winning enterprise fraud management solution, Proactive Risk Manager, to satisfy PSD2 requirements and reduce fraud losses
By utilizing ACI’s UP Retail Payments solution, EBH will be able to ensure real-time balance data will be available 24/7 to all customers across all banking channels. The ability to provide such balances is a crucial compliance requirement of Hungary’s domestic instant payment scheme, which will launch in 2019.
In order to comply with PSD2 and strengthen fraud protection around instant payments, EBH will also utilize the latest version of Proactive Risk Manager (PRM) and implement real-time prevention and detection capabilities. PRM will be fully maximized, especially for transaction risk analysis and reporting requirements in regard to the new Regulatory Technical Standards (RTS) for ‘Strong Customer Authentication’ (SCA).
PSD2 requires payment service providers (PSPs) to improve the authentication of payment transactions to tackle fraud, introducing ‘Strong Customer Authentication’ as the means to do this. Under the new rules, exemptions from SCA are only allowed for those who can keep their fraud levels under specified reference fraud rates, which allows payments under certain thresholds to be secured using transaction risk analysis.
Ultimately, PRM will enhance EBH's enterprise fraud detection capabilities and empower the bank to provide a better customer experience to both consumer and corporate customers.
“EBH is one of the first banks in the region to fully future-proof its
payments infrastructure while laying the foundations for growth. ACI’s
solutions support our customers in protecting their existing businesses
and increasing their revenues, placing them in pole position in the new
open banking and real-time payments ecosystem,” said
“We are delighted to continue our partnership with
EBH, a long-standing ACI customer, is a member of
Universal Payments (UP) is at the core of ACI’s strategy to provide the broadest, most integrated suite of electronic payments solutions in the market. UP is ACI’s vision of enabling real-time, any-to-any electronic payments for financial institutions, intermediaries, merchants and billers. Its unique underlying technology framework consists of flexible, open payment services that enable organizations to innovate quickly, reduce risk and gain choice, flexibility and control over their payment strategies.
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