ACI named Swift service bureau provider

Source: ACI Worldwide

ACI Worldwide, an international provider of software for electronic payment systems, today announced that it has been approved as a SWIFT Service Bureau provider.

ACI plans to initially leverage the SWIFT Service Bureau for its on demand money transfer solution. The ACI Money Transfer System is ACI's single-source solution for domestic and international payment processing. It is a market-leading multi-bank, multi-currency product that offers continuous, straight-through processing (STP) combined with state-of-the-art error elimination and recovery capabilities. Awarded the SWIFTReady Gold Label for ten consecutive years, the Money Transfer System is used worldwide by leading banks, including 15 of the top 25 U.S. banks.

The ACI On Demand solution gives financial institutions the option to access the Money Transfer System through a hosted services environment. As an approved SWIFT Service Bureau provider, ACI will provide On Demand clients with a single direct gateway to SWIFT, eliminating any separate SWIFT interfaces and bank-managed translation systems. ACI maintains and manages the communication and hardware for SWIFT-related transactions, allowing financial institutions to focus on their customers and spend less time and resources managing their SWIFT infrastructure.

"We are thrilled to offer financial institutions of all sizes yet another avenue for global payments processing," said Ralph Dangelmaier, president of ACI Worldwide Americas. "With the addition of SWIFT Service Bureau status for our On Demand platform, even the smallest financial institutions can capitalize on the Money Transfer System's rich functionality to achieve straight-through processing of global payments through a single system, without the burden of maintaining a separate interface to SWIFT or a correspondent bank. We are pleased to have earned such a significant designation from SWIFT, and we hope to leverage our Service Bureau status for future business opportunities."

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