ACI Money Transfer System Empowers Financial Institutions to Uniquely Define and Manage Payment Processing Flows
ACI
Worldwide (NASDAQ: ACIW), a leading international provider of
payment systems, announced today the release of ACI
Money Transfer System 5.0™ the company’s leading wholesale banking
solution. The newest version of Money Transfer System offers financial
institutions the utmost flexibility in defining and managing their
payment processing flows. This most recent update was developed as the
result of a large scale collaborative effort between ACI and a number of
its customers whose design input and suggestions were included in the
final version.
“The newest version of Money Transfer System improves the payments
industry’s most robust processing solution with a greatly enhanced
services framework along with a highly tuned sanctions filter to combat
the global issue of sanctions checking,” said Jonathan Eber, Director
and Product Line Manager, Wholesale Payment Engines, ACI Worldwide.
“Money Transfer System has an extremely rich, detailed set of features.
Introducing these as services will allow a financial institution to
utilize this functionality much more broadly and consistently within its
processing environments.”
By exposing services, ACI is empowering customers with more flexibility,
choice and control of their payment systems, both to leverage the
services across their organization as well as to further tailor their
unique customer offerings. Money Transfer System is one of many ACI
products in the company’s broader payments platform to deliver on this
approach.
Money Transfer System 5.0 also provides:
-
Repair Reporting – provides the ability to explain to customers
how to correctly format transactions in order to reduce expensive
repair activity in the bank’s back-office.
-
SWIFT Network Validation Kit – performs validation on messages
received through a back-end interface to avoid negative
acknowledgements and improve straight through processing.
-
Expanded Global Clearing Channels – expanding the suite of
global clearing channels available, Money Transfer System has added:
-
Kuwait Automated Settlement System for Inter-Participant Payments
(KASSIP) using the Central Bank of Kuwait's wide area network
(CBK-Net) including Arabic character support
-
Saudi Arabian Riyal Interbank Express (SARIE) system including
Arabic character support
“I am very impressed with ACI for the manner in which they solicited
input for the new version of the Money Transfer System,” said Mary Sue
McBride, Vice President, Northern Trust Company. “We were heavily
involved in the evaluation process and our inputs and suggestions were
clearly heard and implemented. The lengths ACI went to in order to
encourage, solicit and implement the feedback of myself and a number of
my industry colleagues shows me this is a product based on end user
needs. There are not many solution providers willing to bring customers
into the design process like ACI does.”
About ACI Worldwide
ACI Worldwide powers electronic payments and banking for more than 1,650
financial institutions, retailers and processors around the world. ACI
software enables $12 trillion in payments each day, processing
transactions for 14 of the leading global retailers, and 24 of the
world’s 25 largest banks. Through our integrated suite of software
products and hosted services, we deliver a broad range of solutions for
payments processing, card and merchant management, online banking,
mobile, branch and voice banking, fraud detection, and trade finance. To
learn more about ACI and the reasons why our solutions are trusted
globally, please visit www.aciworldwide.com.
You can also find us on www.paymentsinsights.com or
on Twitter @ACI_Worldwide.
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