Source: ACI Worldwide
ACI Worldwide (NASDAQ:TSAI), a leading international provider of software for electronic payment systems, today announced a series of customer agreements that demonstrate momentum in the wholesale banking business.
These include a combination of new customers, existing customers licensing capacity upgrades, and customers migrating to the newest versions of ACI software to take advantage of the latest functionality.
To date, more than 25 banks have committed to version 7.3 of ACI Enterprise Banker and five customers have already implemented the new release. Two financial institutions that today use Enterprise Banker to offer Web-based services to their corporate clients and one new bank have committed to moving their consumer banking service to the Enterprise Banker platform. This will allow the banks to consolidate online banking in a single, integrated system that can be tailored to the unique needs of customer segments and even individual corporate clients.
Three banks recently selected the ACI Money Transfer System for high value payments and switching. These include two U.S. banks, where ACI software will replace competitors' systems, and a leading financial institution in the United Kingdom. Six additional customers have recently contracted for additional capacity to process payments, reflecting their growing reliance on ACI software as their business expands. In the U.S., the Money Transfer System is used by 15 of the country's top 25 banks for high-value and bulk payments processing and as a hub for payment switching.
ACI is providing software to five UK banks to participate in the Faster Payments initiative, converging retail and wholesale payment functions into an integrated system supported by the Money Transfer System in concert with ACI's BASE24-eps software.
ACI recently added several new customers through the acquisition of Visual Web Solutions, Inc., which brings a global cash management and an end-to-end solution for trade finance that ACI is now making available worldwide. This brings the total number of customers using ACI solutions for wholesale payments to over 110 financial institutions around the world.
Separately, ACI Worldwide (NASDAQ:TSAI), a leading international provider of software for electronic payment systems, today announced its strategy for leveraging the recently acquired trade finance and cash management solutions of Visual Web Solutions, Inc. The acquisition allows ACI to expand its global cash management capabilities with multi-language and multi-currency support, while offering an end-to-end trade finance solution for both traditional and open account trading.
Visual Web's market-ready trade services are an ideal complement to ACI's robust wholesale banking and payments suite. Through the acquisition, ACI now offers a single product for end-to-end trade finance that provides back-end trade processing for bank operations as well as an integrated front-end open account trading vehicle for bank and customer use. The solution is fully compliant with the SWIFT Trade Services Utility (TSU) and supports standard purchase order formats between buyer and seller. The solution is built using a modern service-oriented architecture, offers integrated payment processing, and supports the integration of buyer/seller financing with bank accounting systems.
ACI is offering its new trade finance solution as a standalone product or bundled with its existing solutions for online banking, automated enrollment and payment processing. The products are immediately available to financial institutions worldwide.
Ralph Dangelmaier, president of the wholesale banking group at ACI, said, "We are committed to growing our wholesale banking business domestically and overseas, and the expansion of proven cash management and international trade services is an important aspect of our strategy. The acquisition of Visual Web and its prestigious client list expands our solution suite, broadens our customer base, and strengthens our staff to include more than 430 people focused exclusively on development, marketing and support of wholesale payment solutions. With support for multi-currency payment processing, multi-lingual information reporting and an outsourced hosting option, our products are ideally suited for users throughout the world."