NAPLES, FL--(Marketwired - January 19, 2017) - ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that Rabobank, a global multinational bank, will utilize the company's UP Immediate Payments solution.
Based in the Netherlands, Rabobank is a leading, customer-focused cooperative bank. As the bank continues its growth trajectory among an increasingly crowded field, it realized the need to continue to offer innovative, real-time services to meet consumer and business demands. It is also recognized that real-time payments processing is the future of payments and a real-time payments hub is critical to its strategy. As such, Rabobank needed a system to ready itself for the evolution of instant and open banking and selected ACI's UP Immediate Payments for SEPA Instant Payments.
With the onset of new instant payments schemes across Europe, Rabobank required a flexible solution to address domestic NL instant payments processing as well as pan-European instant payments. Available via a SaaS delivery model or on-premise, ACI's UP Immediate Payments provides connectivity and processing for the local and pan-European SEPA Instant Credit Transfer schemes (SCT Inst). UP Immediate Payments is already in production at other banks as a single point of access and liquidity controls for other country immediate payments (IP) schemes. It features enhanced functionality specifically for the management and processing of real-time payments, including exceptions handling, business intelligence and monitoring dashboards.
"Real-time is the future of payments processing and we need to offer our customers superior solutions that keep us competitive with the new entrants in financial services," said Erik Kwakkel, executive vice president, Payment Services, Rabobank. "We selected ACI because of its proven real-time solution, which reliably and extensibly manages increased transaction volumes as adoption grows. Its UP Immediate Payments solution offers the high performance and availability capabilities we seek, while its multi-scheme support ensures we have the flexibility to adjust to market evolution and adopt new scheme capabilities in the future."
"We're proud to have innovative global financial institutions like Rabobank as customers, and we're excited to be an integral part of their real-time plans," said Craig Saks, COO, ACI Worldwide. "As immediate payments continue to advance globally and the industry awaits the launches of SCT Inst and US TCH real-time payments, it is critical for banks to ready themselves, which is why they're turning to ACI. With our UP Immediate Payments solution, banks can implement and start testing now within their environments, and connect to the central infrastructures as they become available."
ACI has an unmatched global customer base of financial institutions and payment service providers using its UP Immediate Payments solution. In the UK, it has been used by financial institutions to access the UK Faster Payments scheme since its launch in 2008. Currently, 9 out of the 14 direct participants of the UK's Faster Payments Scheme use ACI's solutions, and it has recently begun offering UK aggregator services out of its Limerick data center. Additionally, ACI has customers using UP Immediate Payments to access Singapore FAST and the Australian NPP (New Payments Platform). ACI serves on the ISO 20022 Real-Time Payments Group, the EPC Instant Payments Technology Group, payments and security task forces for the U.S. Federal Reserve, and chairs the IPFA rules working group.
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.
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