ACI expands leading role within global, European and U.S. faster
payments initiatives
NAPLES, Fla.--(BUSINESS WIRE)--
ACI
Worldwide (NASDAQ: ACIW), a leading global provider of electronic
payment and banking solutions, today announced its
involvement in several key boards and councils around the globe all with
a singular focus of driving industry standards for real-time and
immediate payments. Immediate
payments is a near-term initiative that banks must embrace
strategically in this age of ongoing banking and payments disruption.
ACI Universal
Payments empowers these organizations with end-to-end enterprise
payments capabilities— accelerating time to market, reducing risk,
growing revenues and controlling costs.
European Faster Payment Initiatives
The Scheme Management Board (SMB) of the European Payments Council (EPC)
has recently invited ACI's Barry Kislingbury, lead solution consultant,
to participate in the EPC Scheme Technical Forum (ESTF).
With the introduction of numerous international real-time, immediate
payments initiatives, the focus on the formats used to process such
messages has become critical—particularly within Europe. The European
Union aims to enable a cross-border, real-time capability that will span
the Eurozone from the start of instant payments, avoiding individual
domestic schemes, which could become redundant and costly.
Additionally, ACI is participating in the Euro Banking Association (EBA)
Instant Payment Forum and ISO 20022 Real Time Payments Group—with the
goal to create a compatible, interoperable environment for real-time
payments using a global standard.
"The industry is in a state of unprecedented collaboration, including
suppliers with proven experience in such working groups. ISO 20022 is
recognized as a robust message format that can increase
interoperability, improve reconcilement and increase overall transaction
processing efficiency," said Kislingbury. "The community is coming
together to harness this flexibility in a consistent manner and I am
pleased to contribute to that effort."
ACI is also actively engaged in other industry initiatives to drive
real-time payments and global payments interoperability. The central
infrastructure of the UK Faster Payments scheme—widely considered a
global model for the industry—uses ACI's UP Framework for Immediate
Payments; more than 60 percent of the current UK Faster Payments
directly connected members rely on ACI to connect to the scheme. ACI's
Jay Floyd, principal fraud consultant, serves on the UK Faster Payments
Scheme Steering Committee for AML/Sanctions.
US Federal Reserve Initiative
In the U.S., ACI has joined the Federal Reserve's payments improvement
initiative. Ian Rubin, practice lead, Retail Banking & Consumer
Payments, is a member of the Faster Payments Task Force, and Seth Ruden,
senior fraud consultant, is a member of the Security Task Force.
Asia Pacific Initiatives
"ACI is bringing our unique experience to the Federal Reserve's
development project. We have a decade of experience implementing
Faster Payments in the UK and Singapore on both system-infrastructure
and bank-connectivity levels, and we will continue to share our
unique points of reference to the Task Force as it's US efforts move
forward," said Rubin. "We're also currently deploying Australia's New
Payments Platform (NPP) scheme rules, so we have that experience to
contribute as well. While the landscape and complexity of the U.S.
banking industry is very different from that in other countries, there
are common considerations and best practices to be realized."
ACI's UP Framework for Immediate
Payments demonstrations will be featured at the SWIFT Sibos
Conference, October 12-15, in Singapore. Additionally, Ian Rubin will be
presenting at The
Faster Payments Imperative, October 6, in Chicago.
About ACI Worldwide
ACI Worldwide, the Universal
Payments company, powers electronic payments and banking for more
than 5,600 financial institutions, retailers, billers and processors
around the world. ACI software processes $13 trillion each day in
payments and securities transactions for more than 300 of the leading global
retailers, and 18 of the world's 20 largest banks. Through our
comprehensive suite of software products and hosted services, we deliver
a broad range of solutions for payment processing; card and merchant
management; online
banking; mobile, branch and voice banking; fraud
detection; trade finance; and electronic
bill presentment and payment. To learn more about ACI, please visit www.aciworldwide.com.
You can also find us on Twitter @ACI_Worldwide.
© Copyright ACI Worldwide, Inc. 2015.
ACI, ACI Payment Systems, the ACI logo 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
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owners.
Product roadmaps are for informational purposes only and may not be
incorporated into a contract or agreement. The development release and
timing of future product releases remains at ACI's sole discretion. ACI
is providing the following information in accordance with ACI's standard
product communication policies. Any resulting features, functionality,
and enhancements or timing of release of such features, functionality,
and enhancements are at the sole discretion of ACI and may be modified
without notice. All product roadmap or other similar information does
not represent a commitment to deliver any material, code, or
functionality, and should not be relied upon in making a purchasing
decision.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150928005095/en/
ACI Worldwide
Dan Ring, 781-370-3600
dan.ring@aciworldwide.com
Source: ACI Worldwide
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