ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, today announced that BANRED, the largest interbank network in Ecuador, has selected ACIs UP Retail Payments to deliver a powerful digital payments experience to banks and merchants in Ecuador.
Founded in 1994, BANRED provides technological infrastructure, a payment network connectivity and manages the biggest ATM network in Ecuador. A long-time customer of ACI, the company handles a high percent of financial transactions and supports 90 percent of banks in the country. BANREDs decision to extend its relationship with ACI was based on its desire to add new services and transform its payments processing environment while maintaining business-as-usual for its clients. ACIs UP Retail Payments enables BANRED to unite current and next-generation technology under the UP Framework – which allows the management and flow of transaction volumes between systems based upon specific needs. As a result, the company can now add more services that meet the demands of end consumers, such as real-time interbank funds transfers (the first step toward real-time, immediate payments). With new electronic transactions running through BANREDs associate members, the company now has the flexibility to adapt to new customer demands and process transactions efficiently.
As the digital payments evolution continues to drive changing consumer demands, we want to be at the forefront of that evolution, said Pablo Narvaez, CEO, BANRED. Weve worked with ACI for many years, and the company plays a strategic role in our business by enabling us to offer new and emerging payments solutions and services with seamless and secure continuity. With ACI, were able to respond to changing customer demands with efficiency. In fact, we have recently been recognized for our business efficiency by Ekos Magazine, which placed us first in the hardware and software category.
Presented by the Ekos Corporation, Ekos de Oro Award winners represent Ecuadors strongest business leaders. BANREDs Gold (first place) award for business efficiency in the hardware and software category was based on the results generated from the services using ACIs UP Retail Payments solution.
As the payments network leader in Ecuador, BANRED is a key driver of innovation in the country, said Marco Bravo, vice president, Latin America, ACI Worldwide. We provide the secure foundation the company needs to evolve its solutions for its clients. ACIs UP Retail Payments allows the company to balance the migration to digital systems all while maintaining security and trust. With ACI, BANRED is advancing payments in Ecuador into the era of fully integrated digital payments around Latin America and the rest of the world.
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ACIs UP Retail Payments bridges the features and functionalities of current systems with next-generation technologies to deliver a preeminent digital payments experience. The solution supports open API strategies by leveraging the UP Frameworks API Manager capabilities and provides a path for handling real-time payments. In addition, organizations can continue business-as-usual while adding new services and innovating in a protected environment.
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 solutions delivered on customers premises or through ACIs private cloud, we provide real-time, immediate payments capabilities and enable the industrys 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.
Copyright ACI Worldwide, Inc. 2019
ACI, ACI Worldwide, the ACI logo, ACI Universal Payments, UP, the UP logo and all ACI product/solution names are trademarks or registered trademarks of ACI Worldwide, Inc., or one of its subsidiaries, in the United States, other countries or both. Other parties’ trademarks referenced are the property of their respective owners.
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