Rabobank, a Dutch multinational banking and financial services company, will utilize ACI Worldwide’s UP Immediate Payments solution to support SEPA instant payments.
The bank realized the need to continue to offer innovative, real-time services to meet consumer and business demands. In addition, it perceived that real-time payments processing is the future of payments, and that real-time payments hub is critical to its strategy.
“Real-time is the future of payments processing and we need to offer our customers superior solutions that keep us competitive with the new entrants in financial services. We selected ACI because of its proven real-time solution, which reliably and extensibly manages increased transaction volumes as adoption grows. Its UP Immediate Payments solution offers the high performance and availability capabilities we seek, while its multi-scheme support ensures we have the flexibility to adjust to market evolution and adopt new scheme capabilities in the future,” said Erik Kwakkel, executive vice president, Payment Services, Rabobank.
Rabobank is also on the customer list of other payment software providers, including Pelican and NCR Alaric.
Features of ACI UP Immediate Payments
Available through SaaS delivery model or on-premise, ACI’s UP Immediate Payments provides connectivity and processing for the local and pan-European SEPA Instant Credit Transfer schemes (SCT Inst). UP Immediate Payments is already in production at other banks as a single point of access and liquidity controls for other country immediate payments schemes.
It features improved functionality specifically for the management and processing of real-time payments, including exceptions handling, business intelligence and monitoring dashboards.
“As immediate payments continue to advance globally and the industry awaits the launches of SCT Inst and US TCH real-time payments, it is critical for banks to ready themselves, which is why they’re turning to ACI. With our UP Immediate Payments solution, banks can implement and start testing now within their environments, and connect to the central infrastructures as they become available,” said Craig Saks, COO at ACI Worldwide.
More than 1,000 of the largest financial institutions and thousands of global merchants rely on ACI to execute $14 trillion every day in payments and securities.