National ITMX, Oklahoma Wesleyan University, Plexus Worldwide and Volkswagen Payments Receive Top Honors
ACI Worldwide, a leading global provider of real-time payments and digital payment software solutions, today announced the winners of the 2021 ACI Innovation Awards. The awards recognize leading banks, financial intermediaries, merchants and billers around the world for their innovative use of ACI’s digital payments portfolio. Winners were selected by a panel of judges composed of ACI experts and industry analysts from Celent, Javelin Strategy & Research and Mercator Advisory Group.
This year’s winners include:
National ITMX—Thailand’s National Interbank Transaction Management and Exchange (ITMX) is responsible for developing and delivering Thailand’s digital payments infrastructure. ITMX modernized Thailand’s bulk payments processing system with ACI’s real-time payments solution on ISO20022, which has been successfully implemented across all 33 ITMX member banks. The next stage of growth, utilizing the real-time bulk payments network and ISO 20022 standards, will come from the merchant retail and business-to-business sectors with the introduction of more innovative overlay payment services.
Oklahoma Wesleyan University—a four-year university accredited by the Higher Learning Commission, which offers undergraduate and graduate programs to students worldwide. At the start of the pandemic, school officials wanted to move from physical to digital ID cards. They implemented ACI moBills Digital IDs for students, which has been a resounding success, with more than 80 percent uptake among students. The initiative digitized ID cards and enabled the school to continue accepting payments during the campus shutdown.
Plexus Worldwide—one of the largest direct-selling health and wellness companies in the world. Plexus was encountering high chargeback rates and low approval rates upon its expansion into Mexico. This resulted in unwanted customer friction. After implementing ACI Secure eCommerce, authentication rates improved by 45 percent and fraud rates declined by 82 percent.
Volkswagen Payments—the payments arm of the Volkswagen Group. Volkswagen Payments developed a digital marketplace, creating a new business model of direct online sales with new revenue streams for the group’s car brands. Its payments system, enabled through ACI, allowed car manufacturers to offer customers additional on-demand services and products; it also streamlined the consumer experience through in-car and “out-car” services; and it established a direct contact between car brands and their customers.
“At ACI Worldwide, innovation is at the foundation of every customer relationship. ACI Innovation Award winners have continued to advance the use of our solutions to deliver cutting-edge payment experiences that better serve their customers,” said Eve Aretakis, chief revenue officer, ACI Worldwide. “We congratulate this year’s winners on their great results, and we are proud of the long-lasting relationships we have with each of them.”
For additional information on the Innovation Awards program and winners, please visit: www.aciworldwide.com/aci-innovation-awards