ACI Worldwide to showcase its UP Real-Time Payments solution at #TIPSapp event in Frankfurt
ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions, will showcase its UP Real-Time Payments solution at the #TIPsapp Challenge Event at the European Central Bank in Frankfurt on February 6. As financial institutions across Europe are preparing for the launch of several domestic and pan-European schemes, ACI will feature its solution supporting connection to the central infrastructures across the region.
The first pan-European scheme, SEPA Instant Credit Transfer (SCTinst), was launched in November last year and another pan-European scheme, the TARGET Instant Payment Settlement (TIPS), is set to go live in 2018. In addition, several national schemes will be launched: Belgium, Slovenia, Spain, Portugal are all set to get their own national schemes, followed by France, Holland and Hungary in 2019.
ACI Worldwide is offering all financial institutions and PSPs a multi-scheme solution based on a standard European SEPA Inst gateway that can be quickly modified to suit the requirements of any domestic or pan-European instant scheme. ACI’s UP Real-Times Payments is also positioned to seamlessly integrate with the TIPS and other pan-EU real-time payments services.
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Institutions can act now by using ACI’s solution for any local and pan-EU scheme, and securely transition to a new TIPS settlement account once TIPS goes live in November 2018. To simplify the move to real-time payments with a lower risk approach, ACI offers a pre-packaged cloud solution for the major pan-EU instant payments schemes. Advanced liquidity management services are built in to manage fragmented multi-scheme settlement accounts from day one.
Domenico Scaffidi, Principal Solution Consultant Immediate Payments, ACI Worldwide comments:
“This event will be a great opportunity for financial institutions and vendors alike to come together and discuss the opportunities and challenges of instant payments. With several schemes launching in Europe this year, financial institutions have a lot of decisions to make and their work cut out to be ready in time.
“A recent survey by ACI Worldwide shows that consumers globally increasingly expect new and innovative services from banking providers, including real-time payments. Our message is to ‘act now’ and reap the benefits of the ‘first mover advantage.’
“ACI offers payment service providers the opportunity to real time enable their payments platform now and add connectivity to any instant scheme as they become available. We not only provide our customers with a technical solution, but also payment processing functionality, guidance on compliance, fraud, scheme rules, testing and certification, as well as support throughout the complex on-boarding process. Highly available real time solutions is what ACI does, helping our clients evolve from batch based payments to 24*7*365 real time payments.”