ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that it will offer its UP Immediate Payments solution via a hosted cloud, enabling financial institutions across Europe to share connectivity to the EBA RT1 scheme and thus reduce the costs of real-time operations and time to market.
UP Immediate Payments will help banks to manage software maintenance costs, ongoing regulatory requirements and the risk of uncertain volume projections. The solution is complemented by a testing service to ensure fast and seamless deployment.
The service will be offered via ACI’s state-of-the art data center in Limerick, Ireland, which opened last year in order to satisfy growing demand for ACI’s private cloud solutions among its European customers.
Barry Kislingbury, Director Solution Consulting, Immediate Payments, ACI Worldwide comments:
“ACI’s UP Immediate Payments is a tried and tested solution that empowers financial institutions to offer real-time services to customers in record time. A critical function of a new real-time payments system is its accessibility to financial institutions of all sizes. For smaller banks with fewer resources, the ability to rely on support from an industry leader like ACI will provide invaluable support as well as time and cost savings.”
Last year, ACI was named as ‘official service provider’ for the SEPA Instant Credit Scheme by EBA Clearing. Moreover, 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, more than half of the 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 Australian NPP (New Payments Platform) as well as customers preparing for the introduction of The Clearing House and Zelle US schemes. 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.