Rabobank readies for real-time payments

Rabobank readies for real-time payments

Rabobank is preparing for the advent of European real-time payments with the implementation of a new payments hub from ACI Worldwide.

With the onset of new instant payment schemes across Europe imminent, the Dutch co-operative has been shopping around for a real-time payments hub capable of handling domestic NL instant payments processing as well as pan-European instant payments.

Available via a 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)The product features enhanced functionality specifically for the management and processing of real-time payments, including exceptions handling, business intelligence and monitoring dashboards.

The installation at Rabobank comes on the heels of ACI’s launch yesterday of its latest version of UP Immediate Payments, which offers a single point of access to all Immediate Payments schemes globally.

Dutch banks have committed to the introduction of domestic real-time payments by 2019, while the European Payments Council's SCT Inst programme is set for roll-out in November of this year.

Erik Kwakkel payment EVP at Rabobank bills real-time as the future of payments processing. "We need to offer our customers superior solutions that keep us competitive with the new entrants in financial services,” he says. “ACI's 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.”

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