ACI Worldwide to Connect U.S. Banks to Real-Time Payments Scheme

ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions,announced that it will offer its UP Immediate Payments solution via a hosted cloud, enabling financial institutions and credit unions of all sizes to access real-time payments in the U.S. Multiple institutions seeking the same solution will be able to share connectivity to The Clearing House (TCH) and Zelle networks, reducing the costs of real-time payment operations and time to market.

The solution is complemented by a testing service to ensure fast, seamless deployment. It will enable banks to bypass software maintenance costs, ongoing regulatory requirements and the risk of uncertain volume projections. The testing service will provide smaller banks an equal opportunity to offer customers innovative offerings related to real-time payments processing.

“As digital banking becomes more prevalent in the U.S., banks must meet customer expectations to remain competitive,” said WA Proctor, vice president, ACI Worldwide. “The introduction of real-time payments in the U.S. is a prime opportunity to align services with today’s consumer needs—it is also a critical capability for any financial institution to thrive in the future.”

ACI will offer cloud-based, pre-testing support to accelerate onboarding. The service will initially meet TCH Real-time Payments System specifications, utilizing the pre-integrated solution with ACI’s partner VocaLink, to help organizations replicate a live environment using their back-office test environments before entering a formal test window with TCH.

“A critical function of a new, real-time payments system is its accessibility to financial institutions of all sizes,” said Steve Ledford, SVP for product and strategy, TCH. “For smaller banks with fewer resources, the ability to rely on support from an industry leader like ACI for our real-time payments system will provide invaluable time and cost savings.”

ACI’s UP Immediate Payments solution currently supports over 60 percent of the direct participants in UK Faster Payments, as well as Singapore FAST and Australia’s New Payments Platform. The hosted cloud solution will also be available to support EBA SEPA Instant Credit Scheme in the EU.

ACI will showcase its UP Immediate Payments solution at NACHA PAYMENTS 2017 (booth #411), April 23-26 in Austin, Texas.