UK-based bank will use ACI's aggregator service run from ACI's new
European data centre in Limerick
NAPLES, Fla. & LONDON--(BUSINESS WIRE)--
ACI
Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic
payment and banking solutions, today announced it has
partnered with Turkish Bank UK to power its Faster Payments offering.
The UK-based bank will use ACI's aggregator service to connect to the UK
Faster Payments Scheme - allowing it to process all transfers to and
from UK bank accounts instantly. The bank will use the service via ACI's
cloud-based delivery model run from its new European data centre, which
opened in Limerick last month.
Turkish Bank (UK) Ltd is a wholly owned subsidiary of Turkish Bank
Limited, founded in 1901, and has been serving the Turkish and Cypriot
community in the UK for over 40 years.
David Stewart, Managing Director, Turkish Bank UK, commented:
"We are excited about our partnership with ACI. Getting direct access
to the UK Faster Payments Scheme, working with ACI as the technical
aggregator rather than going through a correspondent bank, will enable
us to provide real-time payments services to our customers 24/7.
"ACI provided us with the trust and scalability that we were looking
for in a vendor, and the fact that the service will be run from a
state-of-the-art data centre will provide peace of mind as we leverage
this critical access to the UK Faster Payments Scheme on behalf of our
customers."
Carolyn Homberger, Group President, ACI Worldwide, commented:
"Across Europe, we have seen considerable demand for our dedicated
private cloud offerings. It is one of the reasons why we opened a new
data centre in Limerick last month.
"The data centre delivers the utmost in reliability, security and
data privacy for all of our customers across the region. We are excited
to work with innovative institutions like Turkish Bank, delivering
Universal Payments capabilities to help them effectively compete in
today's fast changing market."
Earlier this year, ACI was awarded a ‘trust mark' accreditation by FSPL,
the official recognition as one of the ‘technical aggregators' that
helps payment and financial institutions gain access to real-time Faster
Payments in a single or multi-tenant environment through the New Access
Model.* The model was introduced by the UK regulator in order to
increase competition in the financial services sector and open up the
market to new entrants.
Based on the New Access Model, ACI offers PSPs, challenger banks and
payments processors a ‘pay as you go' cloud-based solution that manages
all IT and connectivity requirements to process payments via the UK
Faster Payments scheme. For non-bank PSPs, sponsor banks would offer
clearing, settlement and liquidity services.
Available via a private cloud-based delivery model or on-premise, ACI's
UP Immediate
Payments solution is highly flexible and adaptable, enabling access
to all IP schemes globally. It has been used by existing scheme members
to access Faster Payments since launching in 2008.
ACI currently supports over 60 percent of the direct participants in the
UK Faster Payments scheme.
ACI provides world-class electronic payments, banking, and fraud
protection solutions and services to more than 4,600 financial
institutions, retailers, and billers around the world through a private
cloud, processing more than 35 million transactions per day.
Note to editors:
*The New Access
Model, first published by the Faster Payments Scheme in December 2014,
sets out proposals to enable technology vendors to offer technical
access to Payment Service Providers (PSPs) by adding to their existing
accounting platform technology, or providing a managed solution to
either a single or multiple PSPs.
The Technical Accreditation process is designed to help PSPs make an
informed choice of which technical vendor to select to obtain access to
Faster Payments, as any accredited vendor has been able to demonstrate
their technical capability.
A more detailed description of the New Access Model is available in the Faster
Payments: A Vision for a New Access Model, whitepaper: http://www.fasterpayments.org.uk/sites/default/files/FPS_Payment%20Access%20Whitepaper.pdf
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 and SaaS-based
solutions, we deliver 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.
About Faster Payments
Faster Payments is the only UK
interbank payment system available day and night, 365 days per year,
supporting the demands of personal and business customers to make
payments from mobile, Internet and telephone banking channels. In 2015,
Faster Payments processed 1.24 billion payment transactions with a value
of £1,104 billion.
Faster Payments Scheme Limited (FPSL) is an independent limited by
guarantee company established in 2011. The Scheme exists to develop,
operate and enhance payment services based upon a shared 24/7 real-time
infrastructure. FPSL is driven by the long-term needs and aspirations of
customers, businesses, government, the third sector and all types of
Payment Service Providers (PSPs) including challengers and incumbents.
The Scheme operates on a fair and equitable cost recovery basis. It does
not seek to make a financial return for its guarantors. www.fasterpayments.org.uk
About Turkish Bank (UK)
Turkish Bank has been in the UK for
over 40 years and is part of a larger group based in Turkey and Northern
Cyprus which has been serving customers for over 100 years. Turkish Bank
seeks to serve the Turkish speaking community in the UK and Group
customers with their banking needs in the UK, in line with the Group's
culture and ethical values, supported by a strong and conservative
capital and liquidity position. The opportunity to join the faster
Payments system directly will strengthen the Bank's ability to continue
to improve the services to the Bank's customers, and is one of a number
of enhancements that the Bank is putting in place over the next year and
beyond.
© Copyright ACI Worldwide, Inc. 2016.
ACI, ACI Worldwide, 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
parties' trademarks referenced are the property of their respective
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/20161102005106/en/
ACI Worldwide
Dan Ring, 781-370-3600
dan.ring@aciworldwide.com
or
Katrin
Boettger, 0044 (0)7776 147 910
katrin.boettger@aciworldwide.com
Source: ACI Worldwide
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